PHILIPPINE economic growth is robust, according to domestic and international statistics, estimated at between 5 and 7 percent growth, according to NEDA and international institutions. Still, it never hurts to prepare for sustained and more inclusive growth.
What sectors should be guided to attain these objectives?The biggest issue for the common person is the inflation of basic commodities and living expenses like food, transport and power, which hurts people working in blue-collar, lower-white-collar and agricultural jobs. How do we address this?The largest cause of inflation today is not normal supply and demand but high interest rates of the US dollar, forcing other currencies to devalue or economies to go into recession.
This inflation can be partially managed through improved logistics, e.g., if we improve our port processing times, complete our rails, update agrarian policies to encourage large-scale, adopt efficient-scale farming and improve storage facilities. Perhaps we can negotiate purchases of some of our commodities from sanctioned countries such as India, Japan, the European Union and even US companies.
Economy's Next Years Can We Manage Them?
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