The Economic Development Cluster shall focus on the promotion of rapid, inclusive, and sustained economic growth. The Security Cluster shall ensure the preservation of national sovereignty and the rule of law; and focus on the protection and promotion of human rights and the pursuit of a just, comprehensive, and lasting peace. The Climate Change Adaptation and Mitigation Cluster shall focus on the conservation, and protection of the environment and natural resources.
The government has also already launched a national campaign to promote free trade agreements FTAs as well as declared its intent to enter into a second FTA this time with the European Union EU.
All these indicate how the Aquino administration is relying mainly on foreign investments and foreign markets for economic development, rather than the painstaking but more sustainable and equitable approach of focusing on the domestic economy. Cash dole-outs are being used as a temporary smokescreen for further globalization. This multi-billion peso expansion was done without benefit of a comprehensive assessment of previous CCT implementation especially regarding distribution and effectiveness.
This debt-driven and unsustainable social protection program provides temporary relief but cannot replace the long-term benefit of stable jobs and decent incomes. The targeted 4. These CCTs are unsustainable, expensive and relief without reform. Land reform is not a priority and landlessness remains widespread.
Landowners continue to evade land distribution so having their own land to till remains elusive for farmers and farmworkers of various haciendas nationwide including those in Bulacan, Tarlac, Batangas, Laguna, Bicol and Negros. At the same time, corruption and anomalies in the National Food Authority NFA are being hyped to justify its privatization — portending a hike in rice prices.
Like its predecessors, it has resorted to giving a positive spin to any and all economic indicators while avoiding taking doable and lasting measures to actually improve the lives of the people.
It recently claimed that economic growth features a stronger manufacturing sector and rebounding agriculture. Yet there has not been any policy move to reverse the steady decline in manufacturing and agriculture over the last four decades. The government needs to be one that does not place elite or bureaucratic self-interest over that of the people.
The remaining five years of the administration should not be more of the same if the country is to find solutions to its decades-old travails. IBON Features. During his first year, we noticed that most of his plans were not yet started.. We notice that there is no much news about his economic plans. Zero Based Budgeting is like everything starts in zero base and every function of the organization is analyzed. Average inflation for the first half of was at 2.
These upgrades will increase the capacity of the economy to create quality employment opportunities for the people through the expected influx of foreign investments and cheaper borrowing costs for domestic firms. There have been 92 record highs in the Philippine Stock Exchange Index since July , the most recent record closing registering on May 15, at The World Economic Forum increased the ranking of the Philippines in the Global Competitiveness Index, from 85th place in to 65th out of countries in —two consecutive place jumps.
The Philippines has committed to provide up to USD1 billion in loan resources under the bilateral borrowing facility of the International Monetary Fund. Merchandise exports grew by 7.
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