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The State of Economic System in Philippines

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The Philippines has been through a lot, but Filipinos has always been strong, grateful, and happy. Philippine economy as we all know is not as great as some of the countries in the world nevertheless we’re not the poorest country either thanks to our not so great politician who can still manage to find solutions in terms of our economic problems. The Philippine has a large population growth so it needs to have a sustainable economic growth. The Economy of Philippine has been named as one of the fast growing economies by the World Bank. It has been growing very fast in the last three decades. It is just a proof that Philippines has the hope of being one of the best countries in the world. Philippine economic status may be good in this last three decades but it still not good for some of the Filipino because of the prices in the market and also there are a lot of people that belongs under the poverty line and they are the most affected one unlike those people who can afford to buy things as easily as they want they wouldn’t feel how hard to buy things when you have less money to survive for a day. Whenever you look at your left, right, back and front you’ll see homeless people, street kids and old people that beg for a change in the streets specially you can see them in the markets, it is just a proof that our economy is not as good as it sounds. There are still more things Philippines have to improve for our society to really say that we have a good economy.

Nevertheless I still hope and believe that Philippines can catch up on the countries in terms of our economic status, it’s not impossible knowing we’re better now unlike the other administrations. Though it will take years and years to change poor economic performance to a better one. For me Philippines can be rosy unless we find a way to curb population growth but not just in population but also governance has a systemic problem too. It is corrupt, leadership constantly changes making continuity almost impossible. In today’s administration I believe our economy will get fast when build build build program will done fast access of business in Philippines economic. I hope Philippine economy will be better in this coming years and all the difficulty we’ve been experiencing will surely paid off. At the present time we still suffers from high prices of goods and services, taxes and other things we need but let’s not be too pessimistic instead we should be optimistic which I know that we always do as a Filipino.

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