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| Jeepney by Stephanie Azarias & Alexander Olpindo (Wikipedia Takes Manila participant) - Uploaded from Wikipedia Takes Manila, CC BY-SA 3.0 |
Philippines has gone a long way since 1998 Asian Financial Crisis - the country must be a tiger economy today like Singapore if infrastructure and
poverty reduction projects were executed very well in the past. Yet even though
it is good to examine the past, it is more important to focus on the present
and hope for the future.
2016 will be a critical year for the economic development of the
Philippines - 2016 should mark the execution of more infrastructure projects
and implementation (not only creation) of more laws. Many Filipinos now
days are seeing their rights - and many Filipinos are well informed about
problems of the society that needs solution. The key solution to problems of
mega cities is to create and transform. The solution to traffic jam is to
expand the roads and create more mass transportation; the solution to
unemployment is to create simple jobs for the mass and provide free education
and training to the poor; food security and sufficiency can be achieved by
promoting and incentivizing agriculture business; Eco-friendly centralize
industrialization can be encouraged through utilization of modern technology; Environment
can be protected through promotion of responsible extraction of natural
resources - making sure that all resources extracted would be renewed through
the use of proper regeneration processes.
Even though crime is seen to be a problem in the country, the
latter is only part of the big poverty problem, caused by lack of
access to basic resources, due to unemployment. This is to say that Filipinos
should have a security in terms of basic needs and everything else would
follow. One of the basic solutions to poverty is utilizing the government funds
– using these funds to create poverty reduction projects. Government can either
improve infrastructure to improve business in the country and in turn result to
creation of jobs or the government can provide people access to funds and teach people to create business; or the government can do both. For example, government
can build renewable power plants to increase the supply of energy – which will
result to lower electricity bill; which could be a big factor for increasing
investment.
Philippines has a lot of resources, we just need to utilize and
distribute it properly to every person in the country – in that sense, no
economic numbers could be better than that.
Philippine Economist economic growth full year 2016 forecast is
5.9%. For more details about Gross Domestic Product (GDP) data and forecast
visit this link: GDP Data.
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