Higher peso or lower peso

Published February 28, 2008

The economy of the Philippines has been doing great. With peso to dollar exchange of P40 to P41. But have all the Filipinos get the benefit of higher peso rating? I mean, if the economy is doing good, why do we have people who beg for money in the streets. Consumable prices has never went down. Instead it went up.

For me, I better go for lower peso value because of higher dollar exchange rate. I much rely on dollar because of my earnings while blogging. My friends favor the lower peso value because some of them, their parents work abroad.

As a Filipino, whether I like it or not, I favor to what I’ve said even though the economy is doing great, the consumable prices hasn’t lowered down. Is it th calamity that forced this to go up? I don’t think so. It hurts so much when most of the people here are experiencing poverty. Corrupt leaders also is a big factor. They steal money and think about themselves. Our president always reiterates that the economy is doing well but for the faces of most of the people here, they don’t feel the good economy. Me either, I don’t feel the economy.

An excerpt from Inquirer.net stating the president’s State Of the Nation Address

The President delivered this year’s Sona riding a strong surge in the economy, which posted a 6.9-percent growth in the first quarter of 2007, the fastest growth rate in 17 years. The stock market has hit an all-time high and the peso has hit a seven-year high against the US dollar. But critics fault the growth for failing to produce filter-down benefits to the poorer sectors and alleviating poverty.

From that alone, the president targets his economic growth rather than thinking about those who are in poverty and helpless. It’s a shame since it’s a State Of the Nation Address and you target what you’ve done alone, not thinking the present condition of the country. A State Of the Nation Address should be a summary of the country. Economy, present condition, projects, etc. From that alone, it’s a shame. Is it that the president wants to have a “good standing” with other countries even though the country has gone worse?

Here’s another excerpt,

Two-thirds of the Sona’s 15 pages were devoted to an inventory of how much has been accomplished by last year’s blueprint of the national infrastructure building program embodied in the five “super-regions” development plan, the centerpiece of the 2006 Sona. The 2007 Sona was, in some ways, a progress report on the 2006 plan.

The World Bank has pointed out shortfalls in government revenue collection, which has fallen far below targets, and has warned that the solution lies in improving the collection effort instead of imposing new taxes.

I hope she could do better in her next SONA. The present condition of the country has been worst. ZTE scandal here, protest there. Unity walks, etc. I hate watching the television when all the topics are all about ZTE. It’s a good thing journalist are not fed up with the current events because I’m tired and sick with what’s happening. Can we just live in a place where we can live in a peaceful manner?

Then again, I may ask you, which do you favor? Higher peso value or lower peso value?

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