What is the latest issue of the philippine economy?

Question

What is the latest issue of the philippine economy?

Answer 1

Economy is down.  The Philippine government promotes import rather than support its own farmers that produces rice and other agricultural producst.  It focuses to importing rice because of alledged kickbacks by government officials with strong connection with the president.  Corruption is rampant. Smuggle goods are flowing in the market, from DVDs, RTWs, food, toys, hardware, as well as vegetables, killing the local producers since these goods are far cheaper than local produced goods.  Most local industries were shutdown due to bankruptcy.  Unemployment is high, and most Filipinos people prefers to go out of the country to work and migrate.  That is why, remittances from the OFWs is one of the major sources of the country's dollar reserve.  The government resorted to shortcut by implementing the VAT law more than its target revenue to give the excess as dole-out to poor sectors in the form of cash and poother goods rather than providing a source of livelihood.  Performance in social and government services is poor as the government positioned personalities, allies with her regardless if these personas have questionable character, as in the case of new SSS president, who are known ally and a puppet of the president.  That's why SSS funds, a private fund, is at risk of being used in the upcoming 2010 election in the guise of consolidating it to the government's  Philipine Social Welfare Development Plan.   The price of gasoline went-up vis a vis with its VAT, and the government shows no effort in addressing the situation since they are busy in the upcoming election.  What's more you can expect, its chain reaction of a man- made events.  But unfortunately, Filipinos are very tired.  They would rather go to countries like Iraq to survive rather to die of hunger.