THE WEAK PESO AND THE ECONOMY

The economic condition of the country today is weak in general due to the datas just release by the treasury department in a report taken by this blog from the ManilaTimes. The following disheartening information regarding it is the weak value of the peso that made the condition far worse. Weaker peso tagged as NG debt hits P6.5T

Based on these facts and datas release by the treasury department, 42 percent of our GDP now goes to the debt service. It means roughly more than half of our income as a country goes to our debtors. This is not a good indication of a healthy economy, though we are not like Sri Lanka that almost 90 percent of its GDP goes to pay for its debts, the situation if unlikely is following our steps towards it with the kind of rate is going on.

The most troubling situation with our system is that our refusal to industrialize the country, in which currently, our deficit with  import and export is also performing badly. Our imports exceeds our exports, that would mean our peso will continue to fall further before the end of the year. These are mechanics of our economic how the dollar affects our economy which makes life of every Filipinos becomes harder and harder. 

Just recently, almost all prices has gone up, and likely this will go more further as the passage of tax reform increasing more tax rates.

I think its time that we should do a lot of hard work to understand what is trade, commerce, economy, exports, currency, GDPs, Gross National Income, etc., that our people should know and knowledgeable enough to consider in their table discussion about the future of our country and lives and in opinion making each one can participate.