Philipipine Socio-Economic Conditions

Topics: Philippines, United States dollar, United States Pages: 2 (445 words) Published: March 20, 2013
Philippine Economic and Socio-cultural Conditions
The indicators have shown that the Philippine economy have grown and will continue to grow this 2013 if Pinoy will continue his “DAANG MATUWID”. In terms of the (GDP) Gross Domestic Product, the economy is growing strongly with 7.1 percent in the third quarter of 2012, higher than what the government had projected. We need to take this account with the inflation forecasts and the strong peso-dollar exchange rate. The Philippines is experiencing low-inflation and continue a well-behaved price movement, this would mean a strong growth for us.

The Peso to Dollar Exchange Rate continues to become stronger, but is it all good for the Philippines especially for our OFW. We are all aware that the Philippines have many OFW and to add that the appreciation in peso would mean an increase in process of goods. The Bangko Snetral ng Pilipinas (BSP) moves to safeguard the country’s financial stability by reviewing the current framework of NDF. With the continuous appreciation of the peso, now at 40 to the US dollar, traders said that it is due to inflation. THE BSP is thinking of putting a cap on non-deliverable forwards (NDF’s)

In my opinion, the predictions that the Philippines will be the heart of the Third World War, is not impossible although it can be prevented. If any wrong move and decisions in the West-Philippine Sea Dispute can cause the Chinese firm claim in the territories will fight till the end, what does the United Nations will do? If China does not want to bring this issue to the International Court of Justice, we have to talk to them in a bilateral basis, because the Chinese do not want this issue internationalize.

Aside from the dispute, many other issues were heard in the country like the eradication of corrupt officials and proper use of budget, etc. One main problem in the country is the natural calamities like typhoons, landslides continue to hurdle the countries’ continuous development. This has...
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