Still the strongest economy performance in 2023 - DOF secretary Ralph Recto

It is more fun criticizing

5.4% in 2023.  Targeting 6%+  in 2024.  We are on track.  If we compound 6% that can double in 10 years.  We just hope it trickles down to the poor.   And the poor becomes productive and not rely on 4ps and hand outs.  We need every one to shoulder the burden of growth and progress

Less obstacle from those issuing permits and enablers.   Ease of doing business

Philippines is not a poor country

It is more fun criticizing

Because of the continuous negative publicity of the enemies of the state here and abroad, plus political detractors of administration, we are led to believe that Philippines is a poor country.   Try to look at the figures of the poverty.

Try to see the GDP numbers for 1st Quarter;  Philippines is tops. This is despite the perceived perception of recession and inflation world wide.   We are number 36th in world GDP rankings as of 2022. 

The economy of the Philippines is an emerging market, a newly industrialized country and one of the most dynamic in Asia-Pacific region.^[33] As a developing economy, the country is working towards achieving greater industrialization and economic growth.^[34] The Philippine economy is the world's 36th largest by nominal GDP and 15th largest in Asia according to the International Monetary Fund in 2023.

 Some list us at number 19.  Our foreign exchange reserve is high.  We have manageable debt to GDP ratio.  (Japan has the worst at 269% of its GDP) 

All we need to do is reach the trillion GDP numbers.   If we go to the provinces, we see a lot of infrastructures and beautiful attractions.   Time to rethink our perception of our own country.   

China with its exodus of manufacturing firms is pitiful compared to the Philippines.  

We expect that Philippines will be ranked 27th by 2037    http://www.cnnphilippines.com/news/2022/12/27/ph-economy-accelerate-growth.html 

The Philippines is projected to continue its growth run in the coming years... lifting the country from 38th spot in the ranking as of 2022 to 27th by 2037," CEBR said.

GDP/capita of Korea to exceed $30,000 this year. How does Phil compare

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Rizal Philippines
August 13,  2018

From Korean Herald - Korea GDP/capita to hit $30,000 in 2018

Trading economic History of GDP of South Korea

It took 12 for Korea to reach this level.  It thus joins the elite group of countries:  France, Italy, New Zealand, Israel, Japan.  Those who are tried to catch up were Kuwait, Puerto Rico and Spain

South Korea was able to do this despite mountainous terrain, lack of natural resources, emergence from war with North Korea in the 1950s, political turmoil, and financial crisis of 1997.  It was one of the poorest economy in the  world in 1950s with its economy comparable to sub Saharan desert

We can only admire the tenacity and determination of Koreas who in the 1960s had  only $79 GDP per capita.  But they were laughing stock by neighboring countries when they boasted of being Number 1 in semicon fab. The Japanese jeered them:  What? You cant even make a refrigerator. Five years ago they were number 1 at semi con fab.

Korea contributes 2% to world GDP, it is the 3rd largest in Asia, and 11th in the world

How about the Philippines.  Our GDP is sub $3,000. (we are higher than India) and what can we offer as excuses (Take note our GDP growth has been very high vs Korea in the last five years)

1. Frequent calamities typhoon earthquakes

2. Political instability

3. High prices of fuel.

No more excuses.   SK has more excuses than us