The Philippine Economy

[Maxxclip]

Originally Posted by skyion

if you still haven't noticed the bias and manipulation of Yellow Media just because it's sugarcoated with good news, as how subliminal Yellow Lies are pretentiously sandwiched in between 'truths' then good luck na lang in knowing what it means.

would you like to give us or can you suggest to us any websites or news providers that are not biased (according to your standard)?

[d7beast]

Instead na unahin ng gobyerno mga kati-kati nila, ito dapat ang mga tutukan nila kung gusto nilang umusad kahit papano ekonomiya ng bansa,..Kaya sa akin, walang dapat mawala ni katiting na lugar ng bansa lalo na sa mindanao, pero kung walang pagbabago in terms of outlook ng imperial manila sa mindanao, i might support mindanao independence, hati-hati na lang (pananaw ko lang ito),..


Tampakan mining could steer Philippine economy

By Jun Pasaylo Home Updated February 16, 2012 11:47 AM 1 comment to this post
MANILA, Philippines -- The Sagittarius Mining Inc. believed that its copper-gold project in Tampakan in South Cotabato would be a possible game changer in the country's dwindling economy.

In a meeting hosted by the Chamber of Mines of the Philippines today, SMI noted that the Tampakan project could contribute an average of one percent in the country's Gross Domestic Product (GDP) annually within its 20-year mine life.

With its 15 million tonnes of copper and 17.9 million ounces of gold deposits, the mining undertaking is considered as one of the largest in the world.

At the event at Marriot Hotel at Resort World Manila, SMI said the project could be an economic driver in the Philippines that could entice more foreign investors in the country.

It also assured to operate to the highest international standard of responsible mining

The SMI noted that the pending USD5.9 billion investment could be a key indicated for potential international investor to come in.

If the project is approved, the mine is likely be the largest in the country, and probably one of the largest in the world. the mine site covers approximately 10,000 hectares in the boundaries of Tampakan and Kiblawan in South Cotabato.

http://www.philstar.com/nation/artic...ticleid=778173

[rain34]

Originally Posted by Maxxclip

would you like to give us or can you suggest to us any websites or news providers that are not biased (according to your standard)?

Yes I agree please share to us so we can also post from that media or website any economy news from there in this thread

[Mercato]

Originally Posted by RonnieR

WOS: He is not my idol. Very far to the one that I revered: Former Singapore PM LEE KWAN YEW.

I believe that Villar, Gordon, Gibo have better leadership qualities than Aquino.

If I may interject, if I were to think like Minister Mentor Lee Kuan Yew and I see a multitude of doltish oafish vote sellers of an Electorate, this is what I will do.

I will crack down with an iron fist on the COMELEC and purge the voters list of ALL those who are non-taxpayers and I will allow all OFWs based overseas to vote in their respective embassies. Only those citizens with valid TINs will be alllowed to vote.

Walang karapatan mag-dikta yung mga taong lansangan, mga sigang tambay, mga batugan, mga palamunin, mga squatter, mga tamad, mga inutil, mga walang pinag-aralan, at mga walang silbi na mga botante kung papaano ang pagpapatakbo ng gobierno. Without their Masa votes, you will see all the dynasties, mini-dynasties and trapos fall like a pack of cards in the next elections. Only then can the likes of Gordon, Villar or Gibo have a fighting chance.

Only those who pay taxes or send revenues with their blood, sweat and tears have the right to chart the course of the country. That is how a no nonsense government would think...

[skyion]

the country's economy remained resilient due to the sound economic programs of "evil" Gloria who dared to defy the machinations of the real vile culprits behind the country's hardships, unlike some jejemonized mudslinging, hypocritical, self righteous utak talangka and mediocre pnoys, even other international international sectors noticed it that accorded to her recognitions.

this jaundice country is so messed up with embedded corruption and puppet media mediocritized society such that no matter who sits the top post will inherit its corruption. Gloria was no exception thru the fat divorced husband and HOCUS PCOS owner who did the part, while in the game she remained proactive in dealing with her economic programs. But definitely among the similarly corrupt in its way was actually the Electorate itself that epitimozed what really ills this country: the hypocrisy, mediocrity, utak talangka mentality that STUPIDLY voted for the incompetent PUPPET OF ULTIMATE CORRUPTORS in top position. and this incompetent puppet may even turn out to be the MOST BLATANTLY CORRUPT as well as MOST HYPOCRITICAL, what with blasphemous increase in assets, pork barrel at whooping P 160+ Billion to be used to bribe 'tong'ressmen, puppet media to serve ulterior agendas of LORRRD masters (deliberately mispelled to hypnotize its jejemonized subjects).

The economy has remained resilient thanks to another persons' sound economic programs that benefitted the country but it need NOT be associated with, nor deserve robbing someone else's laurel by the INCOMPETENT YELLOW PUPPET, the YELLOW OLIGARCHY (whose cunning manipulations to the Cory Consitution are the real culprits why most foreign investors snob this country lagging it behind its neighbor countries) , and the Oligarch media duped utak talangka, mudslinging, hypocritical pnoys who like jejemoniacal YELLOW ZOMBIES are being programmed by Yellow Media to actually serve the interest of their OLIGARCH LORRRD's.

[wolfram74]

wrong post

[3cr]

Nice find Ronnie! Gaya nga ng sabi mo, pati kaya itong manunulat na ito eh binayaran din ng PNoy Administration? Hindi naman siguro.... Wow this paints PNoy in a different light! Seems the Int'l community see positives in his leadership that many locally (and even on SSC for that matter) dismiss as media manipulation only. Para bang wala na siyang ginawang tama. Guess it takes an outsider's eyes, one with much less bias, to appreciate PNoy's on-going achievements so far. The country will not be built overnight especially when corruption is so deep rooted not only in gov't but in our culture as well. Eventhough PNoy was not the candidate I would have preferred to be President, the people spoke otherwise. Nandiyan na yan so I'm trying to be supportive for now with the hope that he is actually laying the much needed foundation required for long term growth of this country. I'm willing to give him a little more time to see the results of his labor/vision before giving judgement.

Originally Posted by RonnieR

This article did not appear in PH based media. The Author is a Malaysian, a regular contributor to Bloomberg. To the anti-Pinoy here, you should respect the view of the author. Cheers.

If the foreign media see the bright spot of the country, this is always a welcome development as PH for so MANY YEARS, has been beaten in the outside world resulting to wrong impression, misinformation and negative perception about the country that some people think our country is in the dark and worse than sub-human conditions in Africa.

S&P’s reward awaits one-time sick man of Asia

By William Pesek, Bloomberg News
Wednesday, February 15, 2012

It is often a fool’s errand to predict turning points in the more erratic Asian economies. Nowhere is that truer than the Philippines, whose greatest consistency seems to be disappointing the optimists.

With Europe sliding, America limping, Japan shrinking and the once-unstoppable China slowing, it’s anyone’s guess where the Philippines might be in three years. At the risk of looking foolish in, say, 2015, I think it will be in a far better financial place than it has been in a decade.

My faith rests on four things that Benigno Aquino has done since assuming the presidency in June 2010. These were moves that mark a keen understanding of what ails Asia’s 12th-biggest economy and flashes of courage that were absent in his three predecessors.

First, a nuanced focus on the economy. Gloria Arroyo seemed infatuated with raising gross domestic product during her tenure from 2001 to 2010. It was just talk. Arroyo, like Joseph Estrada (1998-2001) before her, was all about the cult of GDP that beguiles many Asian leaders. This obsession masks big cracks in economies with headline-grabbing growth rates that serve mainly to deflect political opposition.

One in four Filipinos lives on less than $1.25 a day. The Occupy Wall Street movement harps on the 1 percent. In the Philippines, it’s more like the 0.01 percent of politically connected citizens who reap the spoils of growth.

Moving swiftly

Aquino wants to tighten mining rules, cut tax breaks and review contracts to make sure average Filipinos benefit from natural resources and limit the industry’s impact on the environment. He is upgrading infrastructure to attract foreign investment that would create jobs.

The president moved swiftly to get a handle on the long-term budget deficit. That’s a vital step to reducing the waste and graft at the root of the nation’s dysfunction, but also winning the investment-grade credit rating that would accelerate the process.

Second, attacking corruption. Aquino, 52, is both the right guy and the wrong one to fight this battle. His mother was former President Corazon Aquino (1986-1992), who made up with integrity what she lacked in governing skills. She was the moral compass after two decades under dictator Ferdinand Marcos. The problem is that the Aquinos are among the major land-owning families that benefit from the extreme concentration of wealth.

Marcos’s billions

Benigno Aquino has had no qualms in going after the billions that watchdog groups say Marcos looted. Marcos is the man Aquino’s opposition-leader father was trying to unseat when he was assassinated in 1983. The Marcos family has been staging a political comeback in recent years. Marcos’ wife, Imelda, she of the infamously large shoe collection, now sits in the House of Representatives.

The president is holding Arroyo, her husband and her son to account for alleged corruption. Aquino also is working to oust Supreme Court Chief Justice Renato Corona, a last-minute Arroyo appointee, who faces accusations that include favoring Arroyo in court decisions. While some in Manila smell an Aquino-versus- Arroyo family feud, I sense a bold effort to clean up the nation’s tainted judiciary.

Third, addressing overpopulation. The nation’s ranks are outgrowing the number of good-paying jobs being created, forcing more and more Filipinos to work overseas. Any talk of family planning is suppressed by the powerful Catholic Church, which is too politically active for comfort. Aquino risked the Vatican’s wrath with a “responsible parenthood” bill. Let’s hope more such steps are on the way.

Exporting people

The remittances that expatriate Filipinos send home boosts growth in the short run. But the money does little to build a foundation for organic growth and is a dangerous addiction that must be kicked. Gaining control of the birthrate is a key part of the solution.

Fourth, a gutsy stance toward China. In Asia, it is striking to hear what politicians say publicly about China’s growing dominance and what they really think. No one wants to anger Asia’s nascent military superpower or offend the biggest customer for their exports. Aquino is risking just that as he demands fairness in China’s claims to disputed islands in the South China Sea and cozies up to the United States.

The Philippines is among a handful of nations claiming the resource-rich Spratly Islands, along with Malaysia, Vietnam, Brunei and China. Aquino refuses to bow to China’s demands, something that has enraged Beijing and prompted calls to punish the Philippines economically.

Balancing act

China’s rise poses a dilemma for Asian leaders. Aquino is showing Asia there’s scope for approaching China as a peer, rather than a subordinate.

Of course, the Philippines has demonstrated a unique ability to scuttle the most virtuous of cycles. All too often, its eccentricities pop up to remind investors why it’s often called the “Sick Man of Asia.” This track record is a big reason the Philippines is rated BB by Standard & Poor’s and Ba2 by Moody’s Investors Service. Both ratings are the second-highest for junk bonds.

Credit raters are perhaps too busy downgrading the top 10 economies to reward progress in the smaller ones. Investors who act in anticipation of Philippine upgrades are unlikely to regret it. Sometimes, foolishness has its benefits.

Pesek is a Bloomberg View columnist.
http://www.sddt.com/News/article.cfm...ck+man+of+Asia

[NOVO ECIJANO]

dp

[InfinitiFX45]

OFW remittances up 7.2% to new record $20.12B in 2011

by VS | GMA News | Wednesday | February 15, 2012 | 3:56pm

Remittances by overseas Filipinos workers (OFWs) reached a new record $20.117 billion last year, up $1.254 billion from $18.763 billion in 2010, Bangko Sentral ng Pilipinas officer-in-charge Juan de Zuñiga noted in a statement Wednesday.

Money transfers from Filipinos abroad accounted for about 9 percent of gross domestic product, and were a significant contributor to economic growth by stimulating domestic consumption, De Zuñiga said.

Sea-based workers transferred 14 percent more money to the Philippines, and land-based sent 5 percent more to their relatives in the country, according to central bank records.

Still, land-based workers accounted for 78.4 percent of the total remittances.

“Remittances remained resilient throughout the year amid the political turmoil in some parts of the MENA states, the slowdown in global economic growth and intensified financial strains brought about by the Euro area sovereign debt crisis,” De Zuñiga said.

Read More: http://www.gmanetwork.com/news/story...ubsection_item

[InfinitiFX45]

2011 OFW remittances exceed govt projection

by Lailany P. Gomez | Manila Times | Thursday | February 16, 2012

Remittances from overseas Filipinos for full year 2011 surpassed the Bangko Sentral ng Pilipinas’ (BSP) growth projection for the period.

BSP Deputy Governor Juan de Zuniga Jr., BSP officer-in-charge, said that money sent home by Filipinos working abroad grew by 7.2 percent to $20.1 billion in 2011 compared to $18.763 billion for the whole of 2010. The central bank projected a 7-percent expansion in remittances in 2011.

The BSP attributed the growth in remittances to the higher fund transfers from both sea- and land-based workers, which rose by 14 percent and 5.5 percent, respectively.

The remittances of land-based workers accounted for about three-fourths or 78.4 percent of total remittances.

In December alone, remittances inched up by 6.2 percent to $1.8 billion, registering the highest monthly level.

“Cash transfers from overseas Filipinos which were estimated to be around 9 percent of the gross domestic product [GDP] continued to be a major contributor in stimulating domestic demand,” de Zuniga said.

Read More: http://www.manilatimes.net/index.php...ovt-projection

[InfinitiFX45]

Economy seen growing by 10 percent in ten years

by Mayvelin U. Caraballo | Manila times | Thursday | February 16, 2012

The Philippine economy can possibly grow by 7 percent to 10 percent in the next 10 years, a leading economist said in a forum on Wednesday.

In his speech during the Asia CEO Forum held at the The Peninisula Manila Hotel in Makati City, Dr. Bernardo Villegas said that the Philippine economy is reaching its tipping point because of over 25 years of slow and painful reforms.

According to Villegas, economic reforms were started during the administration of the late President Corazon “Cory” Aquino, the mother of incumbent President Benigno Aquino 3rd.

He said that it was during the time of Mrs. Aquino that various reforms in the Philippine banking system were initiated.

In addressing the problems on energy, he added that former President Fidel Ramos started the privatization of the energy sector.

“[Now] there is so much interest in the energy sector in the Philippines,” Villegas said.

Read More: http://www.manilatimes.net/index.php...t-in-ten-years

[InfinitiFX45]

US think-tank sees Phl inflation easing

by Lawrence Agcaoili | The Philippine Star | Friday | February 17, 2012 | 12:00 AM

MANILA, Philippines - New York-based think tank Global Source Partners sees Philippine inflation easing further this year and next year, giving monetary authorities enough space to cut interest rates to boost the economy.

In a report, former Finance undersecretary Romeo Bernardo and economist Margarita Gonzales said inflation would ease to 3.6 percent this year before climbing to about 4.5 percent next year.

“Inflation numbers will likely remain within target going forward, averaging about 3.6 percent in 2012 and 4.5 percent in 2013 in our estimate,” Bernardo and Gonzales said.

Read More: http://www.philstar.com/Article.aspx...ticleId=778241

[skyion]

Originally Posted by InfinitiFX45

2011 OFW remittances exceed govt projection

Read More: http://www.manilatimes.net/index.php...ovt-projection

During the Cory regime due to the Oligarch manipulation of the Cory Constitution (that also kept Hacienda Luisita at the sacrifice of aggrieved farmers) the national economy would have long been bankrupt as many foreign investors would rather invest in neighboring countries that ldeal with the Oligarchs and its manipulative corruption that left the country in hardships and poverty as other ASEAN countries progressed. It was the dollar remittances of OFW's that actually saved the economy and NOT the Oligarchs.

“[Now] there is so much interest in the energy sector in the Philippines,” Villegas said.

After the Yellow Oligarch puppet won last 2010 election it made the jejemonic solution at addressing Mindanao's deliberate energy "crisis" blamed at Climate Change (actually the real culprit was the inefficient management of existing power lines that functioned way below its capacity) is to worsen it with what else but the worse contributor of Climate Change - coal fired power plants that otherwise are shunned by more aware countries due to its adverse effect on Climate Change-causing disasters. Research indicate that coal fired power plants result to warmer Sea Surface Temperatures (SST) that are proven to cause changes in typhoon tracks. This concern manifested tragically where otherwise typhoon-free northern Mindanao suffered devastating calamity as the typhoon changed tracks. Mindanao's first coal plant is located there. Extreme flashflood also occured in Iloilo after a coal plant became operational there.

Now under this Yellow administration Mindanao may be saturated with 5 more large coal fired power plants obviously its financiers on election payback by the jejemonic Yellow administration as the infamous coal industry c/o Oligarchs cannot gain support from "evil" Gloria's camp as she gave the country Asia's first landmark Renewable Energy (RE) Law, and neither with mudslinged Villar as he made clear to that coal sector with the platform of Development and Environment. Another impending dilemma will also occur as the world braces for PEAK COAL being a limited fossil fuel will be expected to rise 600% obviously anticipated by the coal financiers that funded the hypocrtiical mudslinging Yellow administration and its jejemonized Yellow electorate, profiteering at your expense as consumer of course. Presently Oligarch owned power companies suck Filipinos with among the world's most expensive electric bills, it would be fun for the Oligarchs how it will further suck you worse as their conveniently incompetent Oligarch Puppet was elected anyway, so thank the mudslinging, hypocritical, jejemonized Yellow electorate for that.

Presently Mindanao has been experiencing low pressure areas when it had not been much so before, it is expected to worsen the moment those coal plants under the Yellow jejemon administration becomes operational. Now this country is again rated the most disaster stricken in the world under Noynoy Cojuangco Aquino. The last time the country became the World's most disaster stricken was also during the time of Cory Cojuangco Aquino. It seems the deceitful Yellows can fool their jejemonized Yellow electorate but not so with Mother Nature as extremely negative Karma from YELLOW LIES, HYPOCRISY, DECEIT through the years manipulated by Yellow Media is being weighed heavily in this utak talangka country epitmozed by the mudslinging, hypocritical, mediocre, blasphemously corrupt Yellow Camp.

When such sad events again happen, if you have been a prudent and discerning voter for the sake of your country do not blame yourself.

[3cr]

Hehehe... Kung sa sisihan sa sisihan eh kasi naman kung talagang nuong araw pa sa kasagsagan ng ating mataas na GDP pinagkagastusan na ni GMA ang pagbigay solusyon sa ating mataas na kuryente imbis na yang lintik na panay kurakot na NAIIA Terminal 3, North Railway at ZTE projecst na yan eh di sana masmaganda na ang kalagayan natin pang ekonomiya niyan. 9 taon di siya nakaupo wala siyang ginawa to address this issue. Hay Naku walang katapusang sisihan!

[skyion]

Originally Posted by 3cr

Hehehe... Kung sa sisihan sa sisihan eh kasi naman kung talagang nuong araw pa sa kasagsagan ng ating mataas na GDP pinagkagastusan na ni GMA ang pagbigay solusyon sa ating mataas na kuryente imbis na yang lintik na panay kurakot na NAIIA Terminal 3, North Railway at ZTE projecst na yan eh di sana masmaganda na ang kalagayan natin pang ekonomiya niyan. 9 taon di siya nakaupo wala siyang ginawa to address this issue. Hay Naku walang katapusang sisihan!

bingiyang solusyon ni GMA ang mataas na kuryente kaya kinalaban niya ang sakim na Oligarch ng Meralco na siya rin may-ari ng puppet media ABiaS na dahilan ng pagka-jejemon ng mga Yellow Zombies. Iyan ang pangunahing dahilan ba't pinagmudsling ng Oligarch media si GMA na umuto naman sa mga jejemonized budoy viewers nito na ginagawang clueless gatasan ng sakim na Oligarch. Pero anong ginawa mo, binoto mo ba ang pulpol na Puppet ng Oligarch nung 2010 Election?

kung ganun man, dapat sisihin ka rin.

[amigo32]

may ion point ka

[skyion]

Originally Posted by amigo32

may ion point ka

kung Yellow jejemon mudslinger hypocrite wala'y ion point kay nawong murag bati nga kukote

[3cr]

Originally Posted by skyion

bingiyang solusyon ni GMA ang mataas na kuryente kaya kinalaban niya ang sakim na Oligarch ng Meralco na siya rin may-ari ng puppet media ABiaS na dahilan ng pagka-jejemon ng mga Yellow Zombies. Iyan ang pangunahing dahilan ba't pinagmudsling ng Oligarch media si GMA na umuto naman sa mga jejemonized budoy viewers nito na ginagawang clueless gatasan ng sakim na Oligarch. Pero anong ginawa mo, binoto mo ba ang pulpol na Puppet ng Oligarch nung 2010 Election?

kung ganun man, dapat sisihin ka rin.

Hehehe... Aba kung yun na ang solusyon ni GMA sa problema sa enerhiya eh Hindi sapat yon! Para bumaba ang presyo ng enerhiya para sa pamantagalan eh kailangan mag-invest sa inprastraktura ( mga energy/power generating plants) at di yong mga lintik na panay kurakot na Rice Buying, NAIIA Terminal 3, North Railway at ZTE projects na yan na kundi nabulok eh nakatengga lamang hanggang ngayon. Di sana ngayon eh mas competitive tayo at masmaganda na ang kalagayan natin pang ekonomiya niyan. Diyan nagkulang yang si GMA mo - panay umpisa di naman natapos kasi panay kurakot. Buti na lang eh nabunyag din ang mga kalokohang ito sa mga masang Pilipino. Sira ka na lang sa pagsamba mo kay GMA. Di malinis si GMA at pamilya niya gaya ng paniniwala mo!

[Fraulein]

Originally Posted by 3cr

Nice find Ronnie! Gaya nga ng sabi mo, pati kaya itong manunulat na ito eh binayaran din ng PNoy Administration? Hindi naman siguro.... Wow this paints PNoy in a different light! Seems the Int'l community see positives in his leadership that many locally (and even on SSC for that matter) dismiss as media manipulation only. Para bang wala na siyang ginawang tama. Guess it takes an outsider's eyes, one with much less bias, to appreciate PNoy's on-going achievements so far. The country will not be built overnight especially when corruption is so deep rooted not only in gov't but in our culture as well. Eventhough PNoy was not the candidate I would have preferred to be President, the people spoke otherwise. Nandiyan na yan so I'm trying to be supportive for now with the hope that he is actually laying the much needed foundation required for long term growth of this country. I'm willing to give him a little more time to see the results of his labor/vision before giving judgement.

I also read this in Today Newspaper since I am in Singapore. Nice news.

[skyion]

Originally Posted by 3cr

Hehehe...Aba kung yun na ang solusyon ni GMA sa problema sa enerhiya eh Hindi sapat yon! Para bumaba ang presyo ng enerhiya para sa pamantagalan eh kailangan mag-invest sa inprastraktura ( mga energy/power generating plants) at di yong mga lintik na panay kurakot na Rice Buying, NAIIA Terminal 3, North Railway at ZTE projects na yan na kundi nabulok eh nakatengga lamang hanggang ngayon. Di sana ngayon eh mas competitive tayo at masmaganda na ang kalagayan natin pang ekonomiya niyan. Diyan nagkulang yang si GMA mo - panay umpisa di naman natapos kasi panay kurakot. Buti na lang eh nabunyag din ang mga kalokohang ito sa mga masang Pilipino. Di malinis si GMA at pamilya niya gaya ng paniniwala mo!

itanong mo yan sa may-ari ng HOCUS PCOS na nagpanalo sa pulpol na binoto mo. The corruption in this country has become so embedded and complex it has become a mafia-like 3rd force, any president put in position seems autmotically inheriting it. These same corruptors are now right behind your incompetent Yellow jejemonic 'messiah.' it's a very complex chess game and you can never discern it if you remain with the mentality of a pathetic Yellow pawn watching budoy show from ABiaS and getting hysterical with magic wang wang word.

Oh ano, kumusta naman ang jejemoniacal P161 Billion pork barrel ng binoto mong Dilaw na kalbong santo matapos binulusok ang ekonomiya ng -5% sa dating posisyon nitong iniwan ni "evil" Gloria