THE PRESENT PHILIPPINE ECONOMY IS NOT GOOD

By Bayawanon

The president would claim that the Philippine economy is doing good but why is it that the dollar is getting stronger over the peso? The economic managers of the president would tell us that the economy is getting better compared to the last presidency but why is it that the inflation rate in the present administration is much higher compared to to the last one? The president's followers would claim that the economy is strengthening but why is it that the present administration would raise gargantuan taxes to finance the operation of the government?

The dollar-peso rate rose from one dollar ($1.00) to forty-six (Php 46.00) rate when the new Philippine president ascended to the presidency, now it's already one dollar ($1.00) as against fifty-two pesos (Php 52.00), in short the peso weakened as against the dollar for six pesos in just a matter of twenty (20) months. Does it mean that the Philippine economy is becoming bullish as the Philippine president and his economic managers would claim?

The investments of the European Union and the United States and their allies are getting smaller and the investments of China and Russia are getting stronger in the Philippine market, does it mean that the economic market become more competitive or does it mean that free market becomes weaker?

Many foreign investors would also shy away from investing in the Philippines because of its peace and order situation. The Marawi War and the extrajudicial killings contributed much to the non-investment of some foreign businessmen in the Philippines and because of this the income of the Philippines derived from business would be affected.

The high cost in doing business in the Philippines made many foreign investors withdraw from doing business in the Philippines as of last year, how much more that everything that needs to be taxed is getting to be taxed dearly too nowadays because of the TRAIN LAW?

The spiking of the taxes and the strengthening of the dollar are two indications that the economy is weakening since the same would contribute to the inflation rate. If the taxes and the dollar would get higher, naturally the prices of the commodities would follow to rise. In a country where there is no salary increase aside from the police force and the soldiers and there is an unreasonable tax hike, how do you rate the country's economy? Is it good or is it worsening?

If the national market is only dominated by two or three foreign country investors it would follow that the free market is weak, henceforth there is a dramatic lowering number of foreign investors doing business in the country. In a situation like this, the taxes and levies the government get from the said foreign investors are getting lower since the Philippine market nowadays is being dominated only by China. Does it mean that the Philippine economy is getting better? The answer would then be of course in the negative.

In view of the foregoing reasons, a non-economist like me can simply surmise that the Philippine economy is not getting better and needs to be overhauled for the same to be healthy again.