Outstanding debt hits record P6.43T

The current outstanding debt as reported to as much as 6.4 Trillion is something that  should be given attention by the government. It should find ways to control the rising debt mostly affected by the falling peso against foreign currencies, that, with the continuance of this trend will result in an impact on our ability to manage, as well as our credibility to service foreign debts.

The problem with our Peso has been seen in many months since the start of the new administration, while  we do not attribute the situation to them, the inattention or lack of adequate focus to trade, commerce, exports, the current uncertainties caused by the focus on the war on drugs contributed well to the depreciation of our local currency.

The pending Tax reform bill in congress can be a reluctant sign on the part of the private sectors which carry the load and burden of the increasing tax rates, that it will saturate its capacities to operate under such conditions of high tax rates.

The friendly atmosphere needed by the business sectors that would make the economy grow through more investments, local and foreign, is  being threatened by the uncertainties currently emerging. See the Political Uncertainties Main Risk to Growth- by the Business Inquirer .

Ofcourse Political uncertainties remains the factor to growth, due to the present pronouncements and the inability to attend to the chores of our economic situation, our losing stance agianst our neighboring countries that we lose more FDIs to them, is something that would make us state that the country is suffering in a illness of the economy.

Business is wary of Drug Deaths-CNN

 Much more other factors are the business confidence that foreign potential investors are assessing the country, that resulted to more damages by the indications that more FDIs are turning to other countries instead of the Philippines in trusting their investments. 

Like for Example, Vietnam garners about 40% of FDIs against the 3% for the Philippines.

The government should focus instead to war on poverty, and set start to industialize the economy.