Philippine economic growth comes from OFW’s!!!

March 28, 2007 by reyna09
Filed under: Uncategorized

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Read this news from the Inquirer. Alam nyo bang tayong mga OFW’s at mga immigrants na nag-tatrabaho outside of our turd world kawntri ang bumubuhay sa ating bayang pilipit na? Tayo ang nagpapadala nang pera para yong ibang mga tao dyan so gobyerno who are earning Php35,000 eh umani nang about bilyones na pera? Kelan kaya tayong mga OFW makauwi’t gumanda ang buhay para tayo naman eh lumigaya. ADB na mismo ang nag-sasabing kung hindi dahil saatin, eh bangkarote na ang ating madir land yet, ni wala man lang tulong sa mga taong kagaya kong nag-negosyo sa flippines!

Can you imagine that our economy is now very much dependent on us? No wonder the Flippines is the biggest recruitment and placement agency in the world! Di baleng magkahiwa-hiwalay tayong lahat sa mga pamilya natin basta’t mapalayas tayo to send mo’ money home, ok lang sa mga politicos natin! Hudas talaga!

Phil Economy will expand by 5.4% to 5.7%

MANILA, Philippines — The Philippine economy is expected to expand by 5.4 percent this year and 5.7 percent in 2008, but the growth is not strong enough to lift employment sufficiently, the Asian Development Bank said. It said the

economic expansion in the next two years would continue to be driven by the steady flow of cash remittances from the swelling ranks of Filipinos looking for jobs abroad, as well as by low interest rates. These remittances, which last year hit a record $12.8 billion and helped pushed overall growth to 5.4 percent, will shield the economy from any external shocks, the ADB said in its latest Asian Development Outlook.

Moving to a higher growth trajectory and creating more and higher-quality jobs for the unemployed, underemployed and new entrants into the labor force, is the key challenge for the Philippines, the bank said in the report released Tuesday. “Growth and employment have lagged behind the government’s medium-term targets of 6.8 to 7.8 percent in 2008 and seven to eight percent by 2010. Expanding at close to these targets, with the associated increase in employment by an average of 1.4 million to 1.6 million annually, will require sustained efforts to improve the investment climate,” the ADB said.

The ADB’s gross domestic product growth forecast for the Philippines this year is below the government’s target of 6.1 to 6.7 percent, which is also anchored on those remittances that are projected to hit a new record of $14.7 billion this year. Improving the investment climate, the bank said, will require steady progress on reforms that will help boost revenue and reduce debt, and attract more investments in key sectors including agriculture.

“Improvements in the investment climate are needed to spur economic expansion, increase employment generation, and provide public resources for social programs,” it said.

The ADB said its growth projections for the Philippines this year and in 2008 are also based on the assumptions that fiscal reforms remain broadly on track, and that the current El Nino dry spell remains mild. The Philippine government hopes to limit this year’s budget deficit to P63 billion, from 64.8 billion last year, and achieve a balanced budget by next year.

($1 = P48.07)

Tags: Business & Economy

Comments

7 Comments on Philippine economic growth comes from OFW’s!!!

bea on Tue, 27th Mar 2007 3:09 pm

reynz: di baleng magkahiwa-hiwalay tayong lahat sa mga pamilya natin….

waaaa…yan ang ayoko po mangyari hanggat maaari, that’s why I’ve passed up two sure opportunities to work abroad. kaya heto, I’m working hard..erm…harder pala…to be able to provide my family with their needs without me having to go out of our lupang hinirang. it’s hard, but kaya ko pa po…para kay inay at kay itay….hehehe

i take my hat off to all OFWs sa tapang at tatag ng loob ninyo.mabuhey kayong lahat. bow! hehehehe

[Reply]

c5 on Tue, 27th Mar 2007 3:32 pm

Alam mo Bea, yan din ang reason namin bakit ayaw namin mag-work sa labas ng lupang hinirang. We don’t want the family disintegrated by the mere source of income. We have little children. Formative years, 7-13…it’s very important buo ang pamilya…I don’t want them to live somewhere else or with someone else other than us both (mother AND father). Both figures are very important in a child’s young life. Both give different aspects of learning. The only reason I’d go out of the country is to tour…and most probably with the whole family…whenever that would be…Meantime, we are as one surviving…but we don’t worry…God is there to provide our needs…what else can we ask for?

[Reply]

ghandee on Tue, 27th Mar 2007 11:02 pm

buti pa kayo bea at c5, ako kasi halos itapon na ko palabas ng bansa ng mga magulang, kapatid at kamag-anakan ko *sigh*

[Reply]

c5 on Wed, 28th Mar 2007 12:07 am

ghandee, single ka pa?

[Reply]

ghandee on Wed, 28th Mar 2007 12:14 am

^yep very much single. pero di naghahanap… charoz! hehe

[Reply]

Culture Shiok! on Thu, 29th Mar 2007 3:30 am

True!!! OFWs…. Show me the money!

Maybe that’s why the Philippine gov’t doesn’t bother much even if we’re lagging behind our ASEAN neighbors when it comes to tourism.

Madami namang Pinoy na umaalis, at patuloy na nagpapasok ng pera sa bansa. Bakit pa kailangang makipagsabayan sa ibang bansa.

Ewan ko sa kanila.

Di magtatagal, pag magtatanong ka sa isang batang Pinoy. “Ano gusto mo maging paglaki mo?”

ang sagot ay… OFW po!

[Reply]

maricris on Sun, 27th Apr 2008 7:45 am

hi everyone im maricris acop im 15 years….alam ko isang hamak na bata pa lang ako para makialam sa pinaguusapan nyo…pero mahal ko talaga ang pinas…at galit na galit talaga ako sa mga pulitiko….lalo na sa mga pulis..mga batogan…grrrrrr
bakit ba ganito tayo????naghihirap…akala ko we’re one of the progressive country sa asean?pero bakit were very close with scarsity(pasenxia na po wrong spelling)
pasalamat nga ako at may ofw pang nag susumikap para kahit papaano ay makaahon din tayo….salmat sa inyo…i salute you all..
cuz my father too is a seaman…and he’s working abroad…
kaya ganun ko nlng kayo hinahangaan….kahit mahirap sa inyo ay kakayanin parin..ganyan ang pinoy…go pinoy…go furhter…
kaka ahon din tayo…
GOd Bless..

[Reply]

Tell me what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!