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Tuesday, November 06, 2018

Average Filipinos Are Doing Better Under President Duterte — Forbes

A report from Forbes Magazine said that the average Filipino is doing better under President Rodrigo Duterte's administration. The negative effect of the high inflation rate does not reflect a failure of leadership but apparently, it shows otherwise. Many Filipinos especially overseas Filipino workers (OFW) are also pessimistic and still believe that the country is on the right track with the leadership of the present administration.
A report from Forbes Magazine said that the average Filipino is doing better under President Rodrigo Duterte's administration. The negative effect of the high inflation rate does not reflect a failure of leadership but apparently, it shows otherwise. Many Filipinos especially overseas Filipino workers (OFW) are also pessimistic and still believe that the country is on the right track with the leadership of the present administration. Ads Sponsored Links Panos Mourdoukoutas, Forbes.com contributor, based his assessment on a report of Tradingeconomics.com that the Philippines’ per-capita gross domestic product (GDP) registered a record high of USD2,891.36 in 2017. The all-time high per-capita GDP was well higher than the average USD1,627.98 from 1960 to 2017. The report, titled “The Philippines’ Per-Capita GDP Has Reached An All-Time High Under Duterte,” said Filipinos are doing better under Duterte when per-capita GDP is adjusted by purchasing power parity (PPP). “That measure, too, reached a record USD7,599.19 in 2017, well above of USD4,969.71 for the period 1990-2017,” it added. The GDP per capita is obtained by dividing the country’s GDP, adjusted by inflation, by the total population. “Macroeconomic stability has helped the Philippines economy demonstrate a great deal of resilience in recent years. At the end of 2017, it grew at an annual 6.9 percent in the September quarter. That’s the strongest growth since the third quarter of 2016. And the Philippines’ economy was still growing at 6 percent at the end of 2018,” the report said. McKinsey Global Institute (MGI) said that the Philippines is lined with the emerging market economies “that are well-prepared to achieve sustained growth over the next decade”. MGI cited the increase in gross fixed capital formation (investment) which “reached PHP695,414.08 million in the second quarter of 2018 from roughly PHP450,000 million in July of 2015 — well above the PHP303,138.16 million for the period 1998 until 2018, and an all-time high”. However, the Philippines’ per capita GDP is equivalent to 23% of the world’s average which makes an impression that Filipinos are poor. Mourdoukoutas advised the Duterte administration to “keep an eye on the price of bread and rice” rather than celebrate the record per capita GDP. Mourdoukoutas also said that President Duterte should look at his human rights record as well. Filed under the category of Forbes Magazine,Filipino, President Rodrigo Duterte, high inflation rate, overseas Filipino workers

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 Panos Mourdoukoutas, Forbes.com contributor, based his assessment on a report of Tradingeconomics.com that the Philippines’ per-capita gross domestic product (GDP) registered a record high of USD2,891.36 in 2017.



The all-time high per-capita GDP was well higher than the average USD1,627.98 from 1960 to 2017.

The report, titled “The Philippines’ Per-Capita GDP Has Reached An All-Time High Under Duterte,” said Filipinos are doing better under Duterte when per-capita GDP is adjusted by purchasing power parity (PPP).

“That measure, too, reached a record USD7,599.19 in 2017, well above of USD4,969.71 for the period 1990-2017,” it added.

The GDP per capita is obtained by dividing the country’s GDP, adjusted by inflation, by the total population.

“Macroeconomic stability has helped the Philippines economy demonstrate a great deal of resilience in recent years. At the end of 2017, it grew at an annual 6.9 percent in the September quarter. That’s the strongest growth since the third quarter of 2016. And the Philippines’ economy was still growing at 6 percent at the end of 2018,” the report said.

 McKinsey Global Institute (MGI) said that the Philippines is lined with the emerging market economies “that are well-prepared to achieve sustained growth over the next decade”.

MGI cited the increase in gross fixed capital formation (investment) which “reached PHP695,414.08 million in the second quarter of 2018 from roughly PHP450,000 million in July of 2015 — well above the PHP303,138.16 million for the period 1998 until 2018, and an all-time high”.

However, the Philippines’ per capita GDP is equivalent to 23% of the world’s average which makes an impression that Filipinos are poor.

Mourdoukoutas advised the Duterte administration to “keep an eye on the price of bread and rice” rather than celebrate the record per capita GDP.
Mourdoukoutas also said that President Duterte should look at his human rights record as well.
Filed under the category of Forbes Magazine,Filipino, President Rodrigo Duterte, high inflation rate, overseas Filipino workers 
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A report from Forbes Magazine said that the average Filipino is doing better under President Rodrigo Duterte's administration. The negative effect of the high inflation rate does not reflect a failure of leadership but apparently, it shows otherwise. Many Filipinos especially overseas Filipino workers (OFW) are also pessimistic and still believe that the country is on the right track with the leadership of the present administration. Ads Sponsored Links Panos Mourdoukoutas, Forbes.com contributor, based his assessment on a report of Tradingeconomics.com that the Philippines’ per-capita gross domestic product (GDP) registered a record high of USD2,891.36 in 2017. The all-time high per-capita GDP was well higher than the average USD1,627.98 from 1960 to 2017. The report, titled “The Philippines’ Per-Capita GDP Has Reached An All-Time High Under Duterte,” said Filipinos are doing better under Duterte when per-capita GDP is adjusted by purchasing power parity (PPP). “That measure, too, reached a record USD7,599.19 in 2017, well above of USD4,969.71 for the period 1990-2017,” it added. The GDP per capita is obtained by dividing the country’s GDP, adjusted by inflation, by the total population. “Macroeconomic stability has helped the Philippines economy demonstrate a great deal of resilience in recent years. At the end of 2017, it grew at an annual 6.9 percent in the September quarter. That’s the strongest growth since the third quarter of 2016. And the Philippines’ economy was still growing at 6 percent at the end of 2018,” the report said. McKinsey Global Institute (MGI) said that the Philippines is lined with the emerging market economies “that are well-prepared to achieve sustained growth over the next decade”. MGI cited the increase in gross fixed capital formation (investment) which “reached PHP695,414.08 million in the second quarter of 2018 from roughly PHP450,000 million in July of 2015 — well above the PHP303,138.16 million for the period 1998 until 2018, and an all-time high”. However, the Philippines’ per capita GDP is equivalent to 23% of the world’s average which makes an impression that Filipinos are poor. Mourdoukoutas advised the Duterte administration to “keep an eye on the price of bread and rice” rather than celebrate the record per capita GDP. Mourdoukoutas also said that President Duterte should look at his human rights record as well. Filed under the category of Forbes Magazine,Filipino, President Rodrigo Duterte, high inflation rate, overseas Filipino workers
A Filipino woman faked her own death and stole her sister’s identity just to apply for a passport. Unfortunately, she is now about to lose her U.S. citizenship. Identity theft is a serious crime. Ads Sponsored Links A 43-year-old Emilita Arindela, of Mount Desert Island, was sentenced to 10 days in jail for making a false statement on her passport application in federal court in Maine. It’s unclear if she will be stripped off of her American citizenship by federal authorities but it is more likely to happen. Prosecutors say Arindela was already married when she married an American man in 2000. She moved to the U.S. in 2002 and later became a naturalized citizen, using her sister’s name. Arindela left her second husband and married another man in 2007. Arindela’s lawyer says his client escaped an abusive marriage in the Philippines and has been a obedience to the US laws. Filed under the category of Filipino woman , passport, U.S. citizenship, Identity theft
In spite of the rising prices of commodities and services and others due to the high inflation rate, many Filipinos believe that the country is on the right track. Just recently, the new minimum fare is being set to P10 while the minimum wage remains stuck. That is what the latest SWS survey indicates. Ads Sponsored Links The latest survey shows that from 70% in the second quarter of this year, the statistics went up to 75%. On the other hand, only 22% believed the Philippines is in the wrong path while 3% of the 1,500 respondents did not give an answer during the conducted survey. Malacañang welcomes this result as a vindication that the administration is doing their job the keep the country on track. “PRRD emphasized in numerous occasions that as government workers, we are here to serve the people. Our objective as public servants is thus being able to perform our respective duties well,” Presidential spokesperson Salvador Panelo said. “Therefore, we treat the results of this recent survey not as an accolade but as an inspiration for our men and women in the government as they persist in carrying on with their roles in the service,” Panelo added. According to the presidential spokesperson, the strong public appreciation would further engage the Filipino people in supporting the Duterte administration in building “a nation where all Filipinos can experience comfortable and decent lives under a trustworthy government.” Filed under the category of commodities and services, high inflation rate, Filipinos, minimum fare, minimum wage, SWS survey
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