MAJOR ECONOMIC PROBLEMS IN THE PHILIPPINES

The economy of the Philippines is said to be rank as the 34 th largest economy in the world
by nominal Gross Domestic Product (GDP). It is also the 13 th largest economy in Asia, and the
3rd largest economy in the ASEAN next to Indonesia, and Thailand. And we are considered to be
emerging markets, and we are the sixth richest country in the Southeast Asia by GDP per capita
values after the regional counties of Singapore, Brunei, Malaysia, Thailand, and Indonesia.

Our country has a massive population and frequent political upheaval that resulting in
degradation of economy. We are the second wealthiest and powerful country in Asia after Japan
in 1960s. However, in our current economy we are experiencing some major economic downfall
because of some issues and difficulties in our government and society. As the President of this
Republic I am going to address the three major economic problems and how are we going to
resolve it in this current administration to set us back in our golden age of economic growth.

First off, Corruption is one of the three major factors that greatly affect economic growth of
a country. To resolve this problem we must:

 End the Impunity- Is the exemption of a person or group from a punishment or freedom
from causing huge consequences of an action. This Current administration will further
enhance the implementation of law enforcement that is an essential to eradicate the
individuals or groups and ensure to punish them with a corresponding sanction.
 Promoting transparency and access to information- As a democratic government
vested by its people we must be transparent at all cost to supply the necessities of our
people. One major part of part of maintaining transparency is the strategic city
management, or how the municipal leaders convey information’s. And how the city
responds to complains of their citizens. In the modern society the use of internet and
Smartphone’s they can respond as quickly as possible by integrating a software wherein
the citizens can post complain in that software or application that can be answered by a
designated personnel in their respective Barangay or Municipality.
 Empowerment of Citizens- Strengthening the demand of citizens for anti-corruption and
empowering them to hold the government for the liable actions that has been made.
 Doing this by removing the leakage of funds and, and improving the quality and quantity
of public services to build up mutual trust between the government and our citizens.

Removing the Corruption can helps to decrease the rate of poverty and also increases the
rate of education in our country.

Second, Promote Foreign Investors and reasonable wages- The Philippines is still dependent
on foreign remittances whereas, it keep the foreign investors out and almost Twelve million
Filipino workers are working aboard or nearly 11-12% of the country’s population by the
Commission of Filipino Overseas (CFO) as of 2013. According to National Geographic all this
Overseas Filipino Workers is sending the money back to the Philippines is amounting to $31
billion a year about tem percent to the GDP to the country.

 In this Administration we are opening up the large scale opportunity to the foreign
investors and also for our fellow citizens to not work abroad, instead work here in our
country. We are also going to impose a new law regarding to the 60/40 constitution law
wherein the investors can not only control the 40% of the business rather up to 80% of
the share of the business. This also encourages the business investors to further invest to
the country and also opens a lot of job opportunities to our fellow men and increase
wages of every employee.
 The Philippines has low cost labor but because of the Unstable and Expensive Electricity
in our country foreign investors are afraid of investing in us, especially in means of
manufacturing field or international firms to export in other countries. So in my
administration I will seek the government push to through the project of Imposing
renewable energy in the Philippines. Not will only benefit the people in low cost
operation, but also benefit our environment from reducing so much pollution in our
country.
 We must put some efforts in terms of infrastructure investments Ports, Airports, and
Roads. This administration will on to Dynamic Initiative to attract foreign investors so
that the Philippines will become more competitive against our Asian peers.
Lastly, the most major economic problem in the Philippines is the Lack of Knowledge of
Political Leaders- Since we are a democratic country we have the right and to choose on who
we wanted to vote to be the next leaders. The responsibility and the future rely on whose names
were going to shade in the ballot paper every time the election comes.

 Government must offered a wide spread of free education system- Lack of

Education and Ignorance is one of the common factors in some of our citizens in
this country, I’m really sorry for the term but it is what it is. I will try all my best
as the president of the country to point through the education system to give all
the citizens the proper education they need.
 Distinguishing over Confidence vs. Competence- Once we become successful
with the first solution which is the Education in need. The People of the republic
of the Philippines will help the government on who must be the righteous leader
to go on to. You, as one of the people of this country must identify if that person
who’s running for the position has only self confidence or competence.
Confidence is only the act of trusting oneself confident enough that he can handle
the position, however being a competent person is not only thinking how can you
really can handle the position plus the accuracy of how consistent and good you
actually are in that situation. In contrary, most people are overconfident rather
than under confident that simplifies over confident only resulting to self
arrogance.
 Gender Discrimination in terms of Leadership- My Administration will accept
any person who is truly worthy for its position whether it is a man, a woman, or
even in LGBTQ community as long as he or she put all his will, passion, and pure
dedication in chosen position. Choosing the person for the right position will
benefit most or even all of us for the long term process. And instead of promoting
people base of their charisma, overconfidence, and narcissism, we must put in
charge people with actual competence, humility, and integrity.