Scribd
Upload
42 views2 pages

Ma. Melanie Alyssa P. Mabalot A1C The Reality of PH Economy in 2018

The document summarizes the challenges facing the Philippine economy in 2018 according to the author. It discusses 5 main points: 1) Inflation spiked due to the government's actions and TRAIN law, increasing costs. 2) Rice mismanagement through imports hurt farmers and caused supply issues. 3) The "build, build, build" program had slow implementation while the large budget went underutilized. 4) Further Chinese economic control of the Philippines should be avoided given issues between the countries. 5) Unemployment increased while more jobs went to Chinese nationals rather than Filipinos.

Uploaded by

Alyssa Mabalot
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
42 views2 pages

Ma. Melanie Alyssa P. Mabalot A1C The Reality of PH Economy in 2018

The document summarizes the challenges facing the Philippine economy in 2018 according to the author. It discusses 5 main points: 1) Inflation spiked due to the government's actions and TRAIN law, increasing costs. 2) Rice mismanagement through imports hurt farmers and caused supply issues. 3) The "build, build, build" program had slow implementation while the large budget went underutilized. 4) Further Chinese economic control of the Philippines should be avoided given issues between the countries. 5) Unemployment increased while more jobs went to Chinese nationals rather than Filipinos.

Uploaded by

Alyssa Mabalot
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Ma. Melanie Alyssa P.

Mabalot
A1C
The reality of PH Economy in 2018

Sadly, I do agree on the content of the article that I have just read. For the past year, news
on televisions and social media always talks about how the prices of goods and gasoline
increased as a result of inflation, how big the impact of Train Law, and much more. Although I am
not a working individual yet, merely a student, I can also feel the changes that happened from
last year. I tend to be observant with my surroundings, especially when I am commuting from my
home to school since the travel time was long. At some point, I pondered upon the petroleum
prices saying, “Wow, the price of diesel in the past years were just a little more than 20 pesos and
now its price is comparable to the prices of unleaded gasoline in the past.” Moreover, I also notice
the effect of the TRAIN Law whenever we go to the grocery store. I noticed that the prices of the
goods at the present time increased rapidly compared to the past years, especially those TRAIN
Law and the higher taxes on fuel, automobiles and other commodities like sugary and alcoholic
beverages, tobacco etcThe budget of 1500 that is a reasonable amount for a week of grocery is
now insufficient and can just afford a minimal amount of products. With this observations coped
up with the content that I have read in the article, what was really the cause as to why we
experience this, why do our economy is bearing this needless hardships?

Firstly, Punongbayan said that one of the reasons why the economy of the Philippines had
a difficult time was because of the government’s action, letting the inflation rate spike as high as
possible. The Philippine Peso is now weak against other foreign currency, and as I have
mentioned earlier, the upsurge of inflation was really felt due to the sudden increase of goods
because of the newly implemented TRAIN Law. Even though this law’s objective is to reduce
certain taxes like personal income, donor’s tax, estate tax, and value-added tax, in my opinion,
the results are still the same as the amount that was reduced is recoup on the prices of goods as
of the moment and worse, mas malaki pa yung naging epekto nito sa budget at pwedeng maging
savings ng isang individual, lalo na sa lower sector of the population.

Second, the rice mismanagement due to the clumsy rice policy implemented by the
government also brought damage towards the Philippine economy. Come to think of it, Philippines
is considered as an agricultural country but how come that we import tons of rice from other
countries? Isn’t it ironic? The sadder part about this is that most of the farmers do not own the
land of rice that they harvest and the middleman is the one who will benefit from this, thus, creating
a monopoly of rice that cause the depletion of the supply. In my opinion, I think that it is possible
for Philippines not to import rice as much as we do because we are a rich agricultural country and
if we buy directly from our farmers, they could make the price of rice cheaper. This could be done
if the government would incline their attention on giving more attention and assistance towards
the farmers rather than giving more importance to importing of rice.

Third, the build, build, build program of the Duterte Administration also provides a large
hole towards our economy. Among the 75 approved projects, only 10 projects is taking place
although the budget of 8-trillion is already out for this program. The slowed down implementation
of this program is also bringing the economy of the Philippines down. The money spent to build
this infrastructures is large and to think that most of the approved projects is not yet implemented,
where is the budget now? Nakakapanghinayang dahil imbes na iallocate na lang sana itong
budget na ito sa ibang programs like job creations or other programs sa ibang department,
nagiging stagnant yung budget dito and nasasayang yung resources na sana naacquire na during
this period.

Fourth, I do agree that the government should stop allowing the Chinese to have further
control in our economy, especially with all of the issues of our country with them. Moreover, we
also know in the recent news that there are many Chinese nationals that are coming in here to
the Philippines to work. Not to discriminate them but I do not agree why our government is doing
this. Our unemployment rate keeps on increasing but we still give more opportunities to them?
Later on, I would not be surprised if we would just be slaves to China.

Lastly,

You might also like