SONZA, KYLA LYN R.

BSBA1 - RIZAL

ACTIVITY

Write a three-paragraph essay on what you think will happen to the Philippines fifty (50) years from
now. Organize your arguments clearly and use evidence whenever necessary.

According to Philippine Statistics Authority of the Republic of the Philippines, the Philippine Gross
Domestic Product (GDP) posted a growth of 11.8 percent in the second quarter of 2021. This was the highest
since the fourth quarter of 1988 which posted a growth of 12.0 percent. The main contributors to the growth,
with their corresponding increase, were: Manufacturing, 22.3 percent; Construction, 25.7 percent; and
Wholesale and retail trade; repair of motor vehicles and motorcycles, 5.4 percent. Among the major economic
sectors, Industry and Services posted positive growths of 20.8 percent and 9.6 percent, respectively. Meanwhile,
Agriculture, forestry, and fishing posted a contraction of -0.1 percent in the second quarter of 2021. On the
demand side, Household Final Consumption Expenditure (HFCE) improved by 7.2 percent, along with the
following items: Gross Capital Formation (GCF), 75.5 percent; Exports, 27.0 percent; and Imports, 37.8
percent. On the other hand, the Government Final Consumption Expenditure (GFCE) dropped by -4.9 percent in
the second quarter of 2021. Net Primary Income (NPl) from the Rest of the World declined by -53.8 percent.
Meanwhile, the Gross National lncome (GNl) posted a growth of 6.6 percent during the period.

(SOURCE: https://psa.gov.ph/foreign-investments/technical-notes , https://psa.gov.ph/content/gdp-posted-double-digit-

growth-118-percent-second-quarter-2021-highest-fourth-quarter-1988)

The country's economic growth and poverty reduction have been severely hampered by the COVID-19
pandemic and community quarantine measures. Exports, tourism, and remittances all slowed sharply in 2020,
resulting in a major contraction in growth. Similarly, the impact of the COVID-19 has substantially impeded the
prior trend in real wages, which was supposed to have a favorable influence on household incomes—
particularly for those in lower income groups—with negative ramifications for poverty reduction in the
Philippines. However, the economy began to revive in the first half of 2021, with a 3.7 percent year-on-year
expansion boosted by state investment and a better external environment. In the short term, the country is
regaining ground on its path from a lower middle-income country with a gross national income per capita of
US$3,430 in 2020 to an upper middle-income country (per capita income range of US$4,096–$12,695).
SONZA, KYLA LYN R.
BSBA1 - RIZAL

(SOURCE: https://www.worldbank.org/en/country/philippines/overview#1)

Continued investment in infrastructure to make transportation easier, easing the process of establishing
businesses and encouraging people to start their own ventures in all fields, lowering barriers to investment
(especially foreign countries), strengthening and prioritizing our manufacturing, creative, and technology
sectors, making our agricultural sector more productive and resilient to the predicted effects of climate change,
and so on are all necessary economic reforms. Cultural reform, if not revolution, is also required among
Filipinos, such as the removal of our laid-back attitude towards life and the limitations of the impact of
Catholicism and Islam on our attitude toward modern thought. Value secular education, value intellectualism,
and more readiness to take risks for better chances rather than being frightened. Be willing to assist others who
are striving to achieve modern society's norms rather than criticizing them for their struggles, regulate our
behavior and attitude, and toughen ourselves up, among other things.

Then, in the year 2071, this prospect will only be achieved if the Philippines makes major reforms to
improve administrative efficacy and reduce corruption in our famously ineffective governance system.
Patronage and family ties must be abolished in favor of a democracy equivalent to Singapore's. I am confident
that the Philippines will be a developed nation in 2071 if it can make significant societal and administrative
reforms, as well as sustain its economic success through economic reform and restructuring.