Brief Overview of the Economic Situation of the Philippines Today.

Topics: South Korea, Minimum wage, Developed country Pages: 1 (328 words) Published: August 12, 2012
Many years ago the Philippines is dubbed as a developing country and with high hopes of becoming a newly industrialized country by the year 2000, and at par with the countries; South Korea, Taiwan, Singapore, Japan and Hong Kong, but why is it that until now the Philippines is still a developing country? Is it because of corruption? (Rank 129 in Corruption Perception in the year 2011 Or it because of our Population? ( Rank 12 with 103,775,002 est. July 2012 factbook/rankorder/2119rank.html) or both? The economic growth of the Philippines is still slow because of low investment and major cities are congested due to influx of people from the nearby province as well as from the most remotest places in the country for hopes of better life, but is it really the luck of these people are found in this cities? The major problem why there are lots of illegal settlers in the major cities is their perception that there is more job and much higher salary. Why not develop these provinces and create more jobs so people will stay in their respective provinces and lessen the influx of promdis in major cities? Another reason why people keep on going to major cities especially in Manila is the rate of daily minimum wage of 456 pesos compared to 203.55 pesos from the fifth class provinces, why not make it at par the city rate to the rates in provinces? Our country is blessed with man power and labor force, we just don’t know how to use it, that’s why we see it as a liability in our country. We can make a difference if we will develop and allocate equally the resources of our country, Philippines is rich in natural resources and we can be as rich as any country if we know how to use these resources.
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