Many articles had already written by economist and financial analysts about the highest economic growth in 40 years, as well also on report stated by Pres. Aquino’s economic group. The truth is, yes we are growing better than other Asian countries.
Because I’m seeing it too. If you are observant enough, and having habits of reading business articles in broadsheets, you will notice the growth.
Here are some remarks that able to define our economy is indeed growing:
- The inflation was in the lowest of 1.10% on the 4th quarter of 2015. If you visit Trading Economics (http://tradingeconomics.com) and search for historical data on inflation rates, you’ll find yourself on how far the economy fasten since 2005, when inflation rate was high as 12%. Inflation rate is the rate of decreasing value of peso due to economic valuation.
- The Philippine Stock Market Index is soaring up high. Then again, historical data from Trading Economics (search for stock market and historical data), wayback on 2006 the PSEI was in around 2,000. Now in 2016, the index fund is now soared to 7,000, little bit shy from the end of 3rd quarter in 2015 of 8,000 index funds. All must know, the health of economy is reflected on stock market index.
- Commercial bonds issuance increased. As a professional banker, almost all blue chips companies in the Philippines (the country is run, whether we like or not, by capitalists) issued commercial bonds needed for their expansion. Ayala Corp. (ALI, and AC), San Miguel Corp. (SMC), Security Bank Inc, (SBI), and SM Prime Holdings (SMPH) are among hundreds of blue chip companies applied for commercial bonds in order to accumulate funds among consumers.
But Still, Why Most Filipinos Haven’t Felt Our Economic Growth?
Again, economic growth is not an instant noodles where ready-to-eat approach. The culprit is; those Filipinos who are not interested in personal finance and money management. Here are some valid lists:
- Who have a family of six and having an income for just two family members. – a father employed as casual blue-collared job and earning of 300 pesos/day, decided to be married and have a children of four. Do you think this is a wise decision?
- Poverty Porn from TV personalities, politicians, broad-cast medias, and social media – these people who instead help and educate more people from poverty line, used them for their political ambition by seeding anarchic perspectives and fight to government.
- To those who are not investing in Equities – most employees are ranters about their financial capacity and condition. Most employees, for the record, are unable to save enough to build their own family, not because of lower salaries but mostly from their chosen priorities. These people who only know how to invest is thru gadgets, vacations, gimmicks, and other immediate gratifications.
- Terrible Family Foundation – it is related in number one. If the head of the family struggled in finances and not able to cope and provide sufficient needs for their family, it will be inherited by their children and may offspring to the succeeding generation.
- To those who frequently and habitually rant – Simple explanation. If you are always saying terrible to others (government, your company, school, etc.), terrible things will also happened to you. I haven’t seen people from this invest in stock market or getting any variable insurance.
Let’s face the reality. To those who only know how money works and actively investing in equities, learning, and self-growth, are the one who feel the economy growing. I seen many people from the poverty managed to get out from there by applying what wealthy people do, strive until they made it.
Today is election period, never search for changes to your candidate, but make changes from yourself. What if your candidate unable to reach your desired expectations?