One of the three factors that wouldn’t let the Philippines to revive is its poor economy. According to the National Statistical Board (NSCB), the latest poverty survey proved that the population of poor people increases since they grew from 23.8 million in 2003 to 27.6 million in 2006 and at the same time 2.7% of the average family income fell. One out of every three Filipinos is poor and there are a lot of Filipinos consider them poor. Alessandro Magnoli Bocchi, the World Bank’s senior economist for East Asian and Pacific Region, has noted that the country is experiencing a slowdown in export growth. The poor people experience poverty a lot more while the rich people continue their luxurious life since there are a lot of structural imbalances in the local economy since high population growth leads to unequal distribution of resources. According to the Philippine Institute of Development Studies, 60% of Philippines’ economic projects, including the 15 billion from overseas workers remittances’ are informal so even as the economy grows, the country’s deprived masses just get poorer.
Sources: http://www.manilatimes.net/national/2008/mar/26/yehey/metro/20080326met1.ht
http://www.tribune.net.ph/headlines/20080317hed3.html
No comments:
Post a Comment