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RP continues to lag behind its neighbors


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THE ENTRY of the new administration, with its development agenda, has raised hopes for higher and faster economic growth, but estimates showed the Philippines will likely continue lagging behind its Southeast Asian neighbors over the medium term.

 

According to simulations by the Bangko Sentral ng Pilipinas (Central Bank of the Philippines), a 10-percent annual growth rate, which economists said was ambitious yet feasible, was needed for the Philippines to reach the 2009 per capita income of Indonesia by 2015.

 

At this pace of yearly growth, the Philippines would only hit the 2009 per capita income level of Thailand by 2028, and of Malaysia by 2038.

 

The BSP said these schedules would be true only if said neighboring countries would maintain, and not speed up, their current growth rates.

 

This means the Philippines should no longer be contented with an average growth rate of between 4 and 5 percent, as posted in the past years, if it aims to improve its competitiveness vis-a-vis its neighbors, said BSP Deputy Governor Diwa Guinigundo.

 

Guinigundo told reporters that an aggressive drive to corner foreign investments was necessary, lest the Philippines would remain the laggard in the region over the long term.

 

Data from the central bank showed that as of 2009, the Philippines

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:thats-funny: :thats-funny: :thats-funny: What's to worry? Hells bells, they can't even mail a letter safely AND IT'S ONLY ONE OF MANY THINGS THEY ARE KNOWN FOR! It doesn't matter that other countries are as bad, at least other countries are NOT SO WELL KNOWN FOR IT! THAT IS THE PROBLEM! Until that is FIXED for good, it will remain. "If you always do what you've always done, then you'll always get what you always got" It sure ain't Quantum Physics Einstein.

 

Go Figure...

 

T

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