Philippines 's Macroeconomic Perspective Of The Philippines Essay

Ruling a state, a country is really not an easy task. The head of the government should really have his organize and well-planned plan so the organization of its each concept will operate systematically. Taking care of estimated 104 million Filipinos, their lives are all in the governments hands. It is not only the people of this country who’ll be depending in the government but the whole nation, including its resources, establishments, employment and others. The fact that the actions applied by the government will reflect to its people and the whole country, the steps that people who have their powers will take, will be the representation of what will happen to the whole nation. The actions, steps and decisions of the government should be

Deciding to start a business is brave and adventurous. The first step to success is a brilliant, viable, profitable idea. Whether you have decided to do it on your own because you are tired of working for someone else, or you are laid off after many years in your organization, before you decide to invest your life savings and get buried in debt, consider the big picture, the current economy, your demographic target consumer and do your research. The idea of solar energy is one such brilliant, viable idea. True the demand is present for such energy, but before taking the leap, consider the market saturation, competition, governmental rules and regulations and other determent factor that will influence the success of your

However, it was Marcos who envisioned a “New Society” or a “Bagong Lipunan” that urged the “poor and privileged” to work as one for the country’s economic goals through “self-realization.” (5.Y) Which, as previously stated, are work and/or study ethics of the Chinese and Jewish (a strong sense of self – of hunger for knowledge). In addition, it was also during Marcos’ regime that the GNP (Gross National Product, a development indicator of a country [definition from Turning Points IV]) in 1980 became four times greater than the country’s GNP in 1972 with an average annual growth rate of 6.6%. It was also during this time

Under the new regime agriculture developed rapidly, commerce and trade soared to unprecedented levels, transportation and communication were modernized, banking and currency improved, the manufacturing industries were transformed. As compared with the Spanish era, economic progress of the Philippines during the American era forged ahead with great strides. (291)

The territorial and maritime disputes over the South China Sea (SCS) have been ongoing for decades. The disputes have been considered to be one the fiercest-contested in Asia. The South China Sea is an enclosed sea surrounded by several different states. China, the Philippines, Vietnam, Brunei, Taiwan, and Malaysia all surrounded the South China Sea. The main cause of tension in this dispute is because China claims to have “historical sovereignty” over all of the South China Sea. Associations of Southeast Asian Nations (ASEAN) have come up with different discussions and suggestions on how to end the disputes with favorable conditions for all contending states. They use the principles of the United Nation Convention of the Law of the Sea (UNCLOS) and form the Declaration on the Conduct of Parties in the South China Sea (DOC). The states surrounding the South China Sea possess 12 nautical miles territorial sea and 200 nautical miles exclusive economic zones (EEZs). Thus, the South China Sea is not only international waters, instead, it is also overlapping exclusive economic zones. According to UNCLOS, disputes over exclusive economic zones must be resolved through negotiations by the contending states. Many of these contending Southeast Asian states have negotiated their maritime boundaries, however, China fails to comply. China claims that it owns all of the South China Sea, and therefore, has no need to

The Philippine economy is progressively increasing according to the World Bank Org. According to the date compiled by CNN Money, the Philippines is projected to be the fourth fastest in the world, that has a GDP at 6.7%. It is projected that the Philippines economy is higher than Bangladesh 6.3%.The agriculture is one of the factors that affects the economy of the Philippines. It contributes the GDP and labor force in the Philippines.

Until 1997, Indonesia (as a member state to the IMF) had most of its foreign exchange reserves retained, no serious macroeconomic imbalances- its current account deficit(CAD) was half that of Thailand. It also had in place, most of its policy makers who for 30 Years oversaw the rapid growth of the economy. Grenville, S (May,2004. Pp4).

The Philippines is one of the developing countries presently. It is poised to become an industrialized country within 5-10 years. The main economic drivers are the Overseas Filipino Workers (OFWs) who usually remit on average $25 Billion a year (www.bsp.gov.ph/Statistics/keystat/ofw.htm). Next to this are the Business Process Outsourcing (BPO) which is popularly known as call center business which churns about $18 Billion a year (www.asiabriefing.com/news/2015/02/oursourcing-bpo). You could see skyscrapers in major metropolitan areas sprouting unceasingly signalling that the economy is robust and poised to take off. Or is it really? This paper will attempt to analyze the travails and missteps of this beautiful country endowed with rich natural resources with 7,107 islands called an archipelago with seas and oceans surrounding these islands. The naturally hospitable, friendly and smiley people lends a strong backdrop to this country with about 107 million population (http://itsmorefuninthephilippines.com/). It has a good English-speaking population which is why the biggest bank of the US, JP Morgan Chase has call centers and direct hired telephone bankers, officers, and specialists, celebrating its 10th year of presence in the Philippines. Wells Fargo, the no. 4 bank also has extensive call centers and back office support in the Philippines. These foreign parties-driven businesses coming from the OFWs and BPOs are the main drivers of the economy.

Unemployment is almost a mainstream issue ever since, and until now there is no noteworthy improvement that is done by the current administration about it. Until now, eleven percent (11%) of Filipino workers are categorized as “extremely poor” with only fifty-five peso (Php. 55) daily salary (Bauzon & Lazo, 2014). What is shocking is that it is not only that seven out of a hundred Filipinos have no jobs, but a lot of employed are underemployed or mismatched in their jobs with respect to their skills and educational attainment.

The problem of poverty is a social phenomenon found in many regions in Indonesia. Hence, various efforts have been made by Indonesian government to overcome poverty and construct strong economic growth through health, education, and infrastructures. The policy to cut down poverty actually has been started for more than four decades by focusing on industry, agricultural, administration, and rural infrastructures. “During 1976 – 1996 the overall number of the poor in Indonesia sharply decreased from 54.2 million people (40.08% to total population) to 22.5 million people (11.34%)” (Soemitro & Tjiptoherijanto 2001). However, in 1997 Indonesia was struck by a monetary crisis and experienced high volatility in poverty rates worse than before. Since then many developed countries give efforts to address the causes and effects of poverty in Indonesia, which these efforts are known as poverty reduction programmes. The Indonesian government was then managed these programmes, one of them was known as “The National Program for Community Empowerment or PNPM”, which enacted in 2007.

The Philippines is one of eight countries that comprise Southeast Asia. A mass of thousands of islands, the country has been struggling to obtain true democracy and freedom for its citizens. After a review of the political history and demographics of the country, an in-depth analysis of the economic condition of the Philippines will be explored. Appendix A contains a map of the Philippines by different cultural regions. Economic topics will include Fiscal and Monetary policies, as well as a review of the peso. Next, significant economic indicators will be discussed, including unemployment, interest

In terms acceleration of economic growth is based on the measurement of GDP, MALAYSIA HAS recorded a growth of 5.1% last year. Although it is lower than 7.2% in 2010, but it was so roaring in the context of a difficult global economic environment and uncertainty. In contrast, global economic growth has dropped from 5.2% in 2010 to 3.8% in 2011 while the economy of the developed countries like USA, Germany, UK, France and Japan also recorded weak growth of respectively 1.5%, 2.7%, 1.1 %, 1.7% and -0.5% in the same year; far lower than Malaysia's achievements. Following a satisfactory GDP growth was assisted by the Federal government revenue increased by RM13.2 billion in 2011 through increased collection of IRB estimate of RM109.7 billion compared with RM96.5 billion the government has managed to reduce its fiscal deficit to 5.0% compared projection of 5.4%. This means that the GOVERNMENT has successfully steered the nation's economy as well as the control and management of public funds wisely in the past 3 years in a row when managed to bring down the fiscal deficit from 7.0% in 2009 to 5.6% (2010) and 5.0% in the past year in a expanding economy.

The Philippines has been lagging behind its neighboring countries such as the People’s Republic of China, Indonesia, Thailand and Vietnam both economically and in public education for the past four decades. With its economy being characterized by boom-bust cycles and episodes of moderate economic growth little has helped to alleviate the poverty. Poverty among households has increased from 24.4% to 26.9% between the years of 2003 and 2006. With the increase in poor families

At present the Philippines is in a depressed albeit not grim state. It remains firmly enmeshed in the World Banks lower middle income category of nations with a GDP per capita of $1,050 (U.S. 1998 Atlas method). 38% of the Philippines population is below the national poverty

To meet this challenge, the Philippine Government has formulated a macroeconomic program for stability and growth with equity. At the core of this program is a poverty reduction agenda anchored on redistributing economic opportunities, protecting the vulnerable, and enhancing the capabilities of the poor to participate in decision-making.