The World Bank is sending out warnings that the Philippines would slip into recession this year, pointing out the fact that government efforts to boost our falling economy is insufficient to pacify the economic turmoil we are in. World bank says our efforts are not enough to enable us to keep up with things as global economic downfall continue to push business to the bugscuffle bottoms.
World bank's forecast on the Philippine economy goes in opposite direction with the government's forecast that the economy would evade a recession and attain a positive growth between 0.8 and 1.8 percent in 2009. The figure is slower than 2008's actual positive growth of 4.6 percent, but the administration said it would be much better than other developing economies.
So the government has said much, perhaps more that what the world bank has to say, but one fact remains true—no matter how the present administration deny the reality, the people will still know what is happening. Why? because we are not feeling any substantial change in our living conditions.
Tell our great economists from the palace to go to the streets and tell the kin of Juan dela Cruz that our economy is getting better and I'd be among the ones who'd really be glad to spit in their nasty faces!
No comments:
Post a Comment