IMF raises Philippines growth, warns on inflation

2 Mar

From a news I found on http://ph.news.yahoo.com/rtrs/20110302/tbs-imf-philippines-8bedc88.html;

according to the forecast, the country’s inflation rate for 2011 will reach 5%, but IMF is still expecting growth from the Philippines since we are still recovering from the 2009’s decline in economy. From what I can remember, 2009 was the year when the news are full of price increases worse than what we have today, when gasoline reached P55/L, minimum fare was P8.50, NFA rice was in demand because its price that was greater than ever, and even the economy of United States was in its dark days. Indeed, that year was the worst I have experienced ever since I became aware of money. I searched the net and unsurprisingly, the inflation rate that year was 9.30%, the highest since 1992. But for 2010, the government imposed tighter monetary policies and are still urging more investors. Presidents are also strengthening the country’s bond to others.

But still, we cannot deny the hardships that price increases bring to us. Toll fees, fare hike on jeepneys, buses, and even MRT and LRT continue to burden Filipinos, without or with minimum wage hike. And sometimes, it still wonders me why we are left behind by the surrounding countries which are now developed. It seems the “developing stage” of the Philippines is never ending. We all know the reasons – corruption, lack of discipline, overpopulation, and the list goes on and on. But it seems nobody really knows the answer.

 

-LOURREY SAFLOR

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