Easier said than done
With global trade slowing, uncertainty rising, and with high volatility in capital flows, it would be unreasonable to expect that the Philippine economy will remain unaffected. Philippine exports will be put under continuing stress. With major economies slowing, developing new markets will be extremely difficult. Remittances from OFWs will continue to struggle as unemployment persists...
Fabella on the need for new tax measures
New tax measures in addition to a planned “sin” tax increase have to be approved for the country to sustain growth amid a global downturn, economists yesterday said.
It is not necessary to Cha-cha
Concord, or Constitutional Correction for Development, was then-President Joseph Estrada’s attempt at Cha-cha (Charter change). Estrada assured all and sundry that unlike the attempt of his predecessor (Fidel Ramos) at Cha-cha, his was not going to touch the system of government at all, but would “only” amend the economic provisions of the 1987 Constitution which...
Restrictive economic provisions of the Constitution once again
The report that House Speaker Belmonte and Senate President Juan Ponce Enrile will revive discussions to amend the restrictive economic provisions of the Constitution brings back to life an important issue of economic policy ...The amendment of restrictive economic provisions could be a manageable change agenda so long as it is not complicated by broader...
Tribute to a public servant
After 21 years as Secretary General of the National Statistical Coordination Board (NSCB), Romulo “Romy” A. Virola has hung up his spurs, so to speak, having reached age 65 and therefore forced to retire, per government fiat. His retirement is not only a loss to the NSCB and the Philippine Statistical System (PSS) but also...
Shadowy funds still lurk
Last year, about this time, I wrote about the existence of some shadowy, significantly large, funds outside the Treasury. Such funds are allocated and distributed by unelected public officials.For a government that is constantly looking for resources to fund its increasing expenditure needs, it would be a pity if President Aquino finishes his term without...
Stop borrowing from abroad!
The biggest threat to the Philippine economy and its huge army of overseas workers and their dependents is the continuing appreciation of the Philippine peso. President Aquino should not sit idly by and gleefully watch the peso gain strength. The argument that a strong peso is good for Juan is not only a colossal mistake,...
When success fails
Filipinos visiting countries in East Asia for the first time are invariably struck by the chasm in prosperity and living standards separating their home from the host countries. Those visiting more than once often feel more depressed to note the hare strides these Asian neighbors have made against their own country’s turtle steps. Others...
Ostrom
No, this is not the name of a fancy light bulb, although a light bulb might well convey the sense of revelation evoked by the idea she pioneered. Elinor Ostrom won the Nobel Prize for Economic Sciences in 2009 and is to this day still the only woman to have gained that recognition.
On a roll but not quite
It seems that the Philippines is on a roll. First came a GDP growth rate of 6.4 percent for the first quarter, then the SWS May hunger (self-rated) survey results which showed a 5.4-percent decrease in the percentage of families who experienced hunger in the past three months, followed by a credit rating upgrade (one...
When a major investor leaves
Ford Motor Co. recently announced that it will close its manufacturing plant in Sta. Rosa, Laguna at the end of the year. Any investment closure by a name brand which has salutary advertising impact for the country invites questions about the investment climate. Even in a time of improving expectations, it is an event...
Private construction — robust or bust?
It would be unwise to expect that public construction will continue to expand at such phenomenal rates. Base effects -- the positive effect of rock-bottom activity in the previous year -- will soon fade away. Taxes, unless serious tax reforms are done soon, will continue to be constrained.
