Republic of the Philippines

Commission on Higher Education

DARAGA COMMUNITY COLLEGE
Salvacion, Daraga, Albay

PHILIPPINE ECONOMY IN THE NEXT 6 YEARS

Final Output in Microeconomics

Submitted by:

Sharivie B. Llandelar

BSED- Social Studies A

Submitted to:

Mr. Pio Sandino Mendinueta

Sharivie B. Llandelar

THE PHILIPPINES: ECONOMICALLY RICH, ECOLOGICALLY POOR.

INTRODUCTION
The Philippines' economy is transitioning from agricultural to industrial. Few people still own
land. According to statistics, a substantial share of rural households are poor. The Philippines
has abundant natural resources, but its economy is primarily extractive, and its people live in
terrible conditions. As a result, We Filipinos have been dubbed "beggars on top of a mountain
of gold."

Philippines over the next six years.

• Slow economic growth and a fast growing population make it challenging to expand and
improve education and health services in the Foreign investors, MNCs, foreign debts, and
foreign aid are all sources of funding for the government.

• Government's lack of political will to encourage local businesses and grow local industries, as
well as express its self-determination through adopting Filipino First and protectionism policies.
Low real wages and a scarcity of employment possibilities. Foreign and local debts are
enormous, bureaucracy and tremendous graft and corruption.

• Inefficient tax collection, tax evasion, tax credits, and tax breaks for foreign investors deprive
the country of much-needed cash.

• Peso depreciation, political unrest, and high costs have all contributed to economic instability.

The Alternative Solutions:

 • Regional and rural development

• Repudiation of foreign debts that were not used for national welfare.

• Intensive and more efficient tax collection, particularly among major tax evaders and firms.

• Strict respect to the constitutional provision on the exploitation of our natural resources

• Government assistance to local entrepreneurs and the development of local industries

• Agriculture is being industrialized.

• In the corporate world, real wages and profit sharing are provided.

• Free education for all through state-funded education with a greater emphasis on science,
technology, and mathematics

• Political resolve to combat graft and corruption in government

• Government regulations on commodity pricing and protectionism policy

• Campaigns for Filipino First Policy, supporting local goods and products, and pride in

Filipino heritage.

Beginning in 2022- assuming that the entire development program is completed, it may be
essential to resort to external becoming in order to avoid exercising the currency reserve.The
provision of necessary local currency should be within the capacity of the Philippine economy in
terms of the percentage of investment to national income. Of course, this does not imply that
the mechanisms for assuring this proportion of savings will be adequate or successful;
therefore, great care should be taken to ensure that this internal financing does not become a
source of inflation. The Philippines has a unique economic situation among all countries
emerging from war and years of hostile occupation.
 Conclusion of the 2026 Article Mission to the Philippines

Despite strong growth and improvements in various areas in recent years, the country has the
potential to do even better and build a more inclusive society with lower poverty. This path to
greater broad-based prosperity is critically dependent on increasing investment, including in
infrastructure and its young people, thereby creating much-needed employment opportunities
for the rapidly growing population.

Without loans, the Philippines will have enough foreign exchange receipts to buy roughly twice
the amount of goods and services that it could buy with the proceeds of its exports alone over
the next six years, which is fortunate for the Philippines at a time when it desperately needs
imported capital equipment to rehabilitate and develop its industries and agriculture.
Increasing productive investment will necessitate a renewed focus on structural reforms, such
as further opening up the economy to increased competition.

We strongly urge the authorities to resolve the uncertainties surrounding the use of agricultural
land titles as collateral for bank loans, improve urban and regional connectivity, reform the
National Food Authority and ease quantitative restrictions on rice imports, and reduce skill
mismatches through expanded education in order to support job creation and poverty
reduction.