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P-Noy is not responsible for our CURRENT economic growth

He didn’t build it


Indeed, despite the claims of administration officials, it was the private sector that did all the heavy lifting during the period. There were no major, big-ticket government projects begun, no significant private-public partnership schemes that went online, no arrival of significant investments (the foreign direct kind, not the hot-money variety that is flooding the stock market) as a result of novel government schemes like tax holidays and such like.

To borrow one of President Noynoy Aquino’s favorite expressions, “minana lang namin ito” [We just inherited this]. Of course, Aquino often says this when referring to the supposed problems that he has had to deal with that were left behind by his predecessor.

But if Aquino and his economic advisers were truly honest, they would admit that they did next to nothing to grow the GDP. The resilience of the economy—everything from the boom in the business process outsourcing industry to the stability of the peso and interest rates—is something like Hacienda Luisita: Aquino didn’t have to do anything to reap its benefits.

The same basic economic reforms and programs already helped us weather the first part of the global economic crisis while Aquino was still twiddling his thumbs in the Senate. Left untouched, they will, in all likelihood, continue to keep us afloat in the parlous years to come.

PS: The opinion article used the data released by the Philippine National Statistical Coordination Board (NSCB).
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Comments

  • blue_tracerblue_tracer PEx Influencer ⭐⭐⭐
    OFWs, thank so much. :hiya:
  • In short, this guy below is good at only one thing: credit-grabbing.

    XeDGq.gif
  • Very much.
  • Rick_diasRick_dias PEx Rookie ⭐
    baka sabihin ng mga Pnoy supporters niyan e, bitter kayo...
  • Just wait till they post "ampalaya" images :lol:
  • Oh I bet they will.
  • blue_tracerblue_tracer PEx Influencer ⭐⭐⭐
    economy: excellent (7.1% growth - uy hindi ko po minana ito hah! ako may gawa niyan. ako, diskarte ko 'yan.)

    crime wave + peace and order: fail

    FOI: fail

    smuggling: fail (all-time high)

    CCT: fail

    PPP: fail (2 out of 10?)

    PR: excellent
    overall rating: passed :rotflmao:
  • economy: excellent (7.1% growth - uy hindi ko po minana ito hah! ako may gawa niyan. ako, diskarte ko 'yan.)

    crime wave + peace and order: fail

    FOI: fail

    smuggling: fail (all-time high)

    CCT: fail

    PPP: fail (2 out of 10?)

    PR: excellent
    overall rating: passed :rotflmao:

    PR should be EXTREMELY excellent kasi dyan na nga lang siya magaling eh
  • SyChuanSyChuan PEx Veteran ⭐⭐
    The fact is Pnoy is not the only reason for our growth nor is it the only reason for our failure.

    The same can be said for GMA, er-Erap?, Ramos, Cory?, Marcos!?.

    The fact is (Insert president's name here) is not the only reason for our growth nor is it the only reason for our failure.

    The main reason for our growth is due to Pinoy's competency (note: with "i"), and the main reason we failed is because of Pinoy's (note: with "i") stupidity.
  • blue_tracerblue_tracer PEx Influencer ⭐⭐⭐
    Growth not felt by poor–partylist solons

    By Karen Boncocan
    INQUIRER.net
    12:07 pm | Thursday, November 29th, 2012

    MANILA, Philippines – Partylist lawmakers on Thursday lambasted how growth in the Philippine economy was not being felt by the poor.

    Reacting to the 7.1 percent third quarter growth of the economy, Bayan Muna Partylist Representative Neri Colmenares asked why then there was still a high poverty incidence if the economy was doing well.

    “Hindi nababawasan substantially yung nagsasabi na hirap at nagugutom sila,” he told reporters during a media forum.
    ACT Teachers Partylist Representative Antonio Tinio echoed Colmenares’ sentiment, saying that such economic growth did not reach the urban and rural poor.

    “Malinaw na hindi pangunahing nakikinabang ang mahihirap sa growth na nakikita,” Tino said, pointing out that the economic growth was partly due to “OFW-driven consumption.”

    “Why is there a disjoint between the unemployment rate and economic growth?” asked Colmenares and challenged the government how it came up with its unemployment rate.

    He said that those no longer looking for work because they have grown tired searching and the number of housewives must still be included in computing the unemployment rate.

    The partylist lawmakers believed that the unemployment rate would be bigger if those people were included in the equation.

    http://business.inquirer.net/95677/growth-not-felt-by-poor-partylist-solons
  • SyChuanSyChuan PEx Veteran ⭐⭐
    Growth not felt by poor–partylist solons

    The partylist lawmakers believed that the unemployment rate would be bigger if those people were included in the equation.

    http://business.inquirer.net/95677/growth-not-felt-by-poor-partylist-solons


    "Surely you're not saying we have the resources
    To save the poor from their lot?
    There will be poor always pathetically struggling -
    Look at the good things you've got!
    Think! While you still have me
    Move! While you still see me
    You'll be lost you'll be so sorry when I'm gone"
  • Growth not felt by poor–partylist solons

    By Karen Boncocan
    INQUIRER.net
    12:07 pm | Thursday, November 29th, 2012

    MANILA, Philippines – Partylist lawmakers on Thursday lambasted how growth in the Philippine economy was not being felt by the poor.

    Reacting to the 7.1 percent third quarter growth of the economy, Bayan Muna Partylist Representative Neri Colmenares asked why then there was still a high poverty incidence if the economy was doing well.

    “Hindi nababawasan substantially yung nagsasabi na hirap at nagugutom sila,” he told reporters during a media forum.
    ACT Teachers Partylist Representative Antonio Tinio echoed Colmenares’ sentiment, saying that such economic growth did not reach the urban and rural poor.

    “Malinaw na hindi pangunahing nakikinabang ang mahihirap sa growth na nakikita,” Tino said, pointing out that the economic growth was partly due to “OFW-driven consumption.”

    “Why is there a disjoint between the unemployment rate and economic growth?” asked Colmenares and challenged the government how it came up with its unemployment rate.

    He said that those no longer looking for work because they have grown tired searching and the number of housewives must still be included in computing the unemployment rate.

    The partylist lawmakers believed that the unemployment rate would be bigger if those people were included in the equation.

    http://business.inquirer.net/95677/growth-not-felt-by-poor-partylist-solons

    Hindi naman kasi talaga mararamdaman yan ng mga tao na nasa baba agad.

    It will take years before the poor feel the effects of the current gdp growth. mas ramdam yan agad ng mga negosyante at mga tycoons.

    Kaso hindi din ako maniniwala na hindi sa nila naramdaman yan kasi nga ang laki ng CCT ni PNoy. mayhap they forgot nagka CCT sila o baka naman hindi nila natangap yung CCT talaga.
  • Ang Pakla ng Bitter Melon na may Utak Talangaka

    show us proofs, eh hawak ng presidente angmga Ahensyang to (DBM, BSP NEDA at DOF) kaya responsible sya sa wconomic growth?

    utak talangka ba galing China kasi yung ilan dito
  • SyChuanSyChuan PEx Veteran ⭐⭐
    Growth not felt by poor–partylist solons

    “Malinaw na hindi pangunahing nakikinabang ang mahihirap sa growth na nakikita,” Tino said, pointing out that the economic growth was partly due to “OFW-driven consumption.”

    “Why is there a disjoint between the unemployment rate and economic growth?” asked Colmenares and challenged the government how it came up with its unemployment rate.

    He said that those no longer looking for work because they have grown tired searching and the number of housewives must still be included in computing the unemployment rate.

    The partylist lawmakers believed that the unemployment rate would be bigger if those people were included in the equation.

    http://business.inquirer.net/95677/growth-not-felt-by-poor-partylist-solons


    Talangka in the HOUSE. (lower house)
  • 30989183.jpg

    counting in 4..3..2..1..
  • despisePappusdespisePappus 👁 PBB Loyalist
    I agree with the article. We haven't heard of any new economic policy or big government project from the government for them to claim that they did propel our economy.
  • KamenRaida wrote: »
    Ang Pakla ng Bitter Melon na may Utak Talangaka

    show us proofs, eh hawak ng presidente angmga Ahensyang to (DBM, BSP NEDA at DOF) kaya responsible sya sa wconomic growth?

    utak talangka ba galing China kasi yung ilan dito

    Questions lang po: Increased taxation or subjects of taxation, increased protectionism, ito po ang ginagawa ni PNoy right now diba? How about smuggling? How about the bangsamoro thingy which GMA started and repackaged by PNoy absent the unconstitutional provisions? How about the infrastructure projects that PNoy studied only to release them as is and claim it as his (NOTE: Laguna Dredging, LRT extensions, Daang Hari extension, and so on)?

    Follow up question: PNoy decided to fuel GDP growth by priming the economy with government spending through the CCT and other final spending measures. He also lowered rates to fuel consumer spending. So the question is: Is this sustainable?

    If you want proof of my follow up question and proof of the opinion in my link then simply go here: http://www.nscb.gov.ph/secstat/d_accounts.asp and http://www.nscb.gov.ph/sna/2012/3rd2012/2012gnpi3.asp

    The two links are proof of why the government cannot claim that it indeed helped the economy in a significant way. It cut rates to fuel spending but failed to "urge" capital formation or increase exports to a significant amount.

    I have yet to see a press release of certain economic policies that will help our economy from this administration OTHER THAN those which pumps spending.

    The private sector is not beholden to the government and the government cannot claim the success of the private sector without a showing of policy changes NOT aimed at increased spending.

    Lastly, the fact that we do not have big ticket infrastructure projects being started proves that government is simply fueling spending. If indeed the government wants to claim a success it should URGE capital formation to a significant level AFTER changing economic policies by doing a Cha Cha and removing all protectionist measures and reducing taxes or the subjects of taxation. The government could also do that by building many many infrastructure projects.

    So you want proof yan o. Its extremely technical but proof gusto mo eh.

    Pero ang tanong is: Anong proof ba ang tatangapin mo?
  • ^That would be Pulse Asia,SWS, Inquirer and ABSCBN :glee:
  • SyChuan wrote: »
    The fact is Pnoy is not the only reason for our growth nor is it the only reason for our failure.

    The same can be said for GMA, er-Erap?, Ramos, Cory?, Marcos!?.

    The fact is (Insert president's name here) is not the only reason for our growth nor is it the only reason for our failure.

    The main reason for our growth is due to Pinoy's competency (note: with "i"), and the main reason we failed is because of Pinoy's (note: with "i") stupidity.

    True. very true.
  • b_9904 wrote: »
    True. very true.

    then who is responsible for the economic growth
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