Aurora Congressman Sonny Angara correct, high economic growth in the Philippines is good, but we should do more to eradicate massive and widespread poverty too!



Aurora Representative Juan Edgardo "Sonny" Angara said on December 2, 2012 that the Philippines' economic growth should trickle down to and be felt by the poor.

Sonny Angara said the challenge for the government is to “ensure that the benefits of growth are felt by all, especially the poor.”

“A great number of Filipinos remain impoverished. Many find it hard to believe pronouncements that the economy is improving, when their lives are hardly getting better,” he said.

“To make a real difference in their lives, we must be able to provide opportunities for individuals and families to prosper, whether through employment or entrepreneurship,” he said.

“Every Filipino must be able to actually feel the growth of the economy. All of us must feel that we are a part of it. Equitable growth – that should be our goal,” Congressman Angara said.

The Philippines has the widest income gap between the rich and the poor in the whole of Southeast Asia, ahead of Singapore, Thailand, Cambodia, Indonesia, Malaysia, Vietnam, and Laos, Angara said.

For 2nd year, Philippines slips in World Bank list of business-friendly locations!

Wake up our politicos... Reforms Pls!

(Image from Philippine classified ads blog)


My comments:

It is high time our Philippine government leaders shift focus from the laudable anti-corruption crusade and include more bold investor-friendly reforms to boost business confidence.

True, the Philippine economy is on the upswing, but decisive and systemic reforms are needed beyond the personal righteousness and idealism of the top leader Philippine President Noynoy C. Aquino.

Let us make the Philippines a more business- and investor-friendly as well as efficient economy?


I'm sharing this news report from TV5:

By: Likha Cuevas-Miel, InterAksyon.com
October 23, 2012 11:19 AM

MANILA - The Philippines slipped two notches in an annual World Bank survey on business-friendly locations worldwide.

In its 2013 Ease of Doing Business report, the World Bank said the Philippines' ranking dropped to 138 from last year's 136. This was the country's second consecutive drop after landing on the 134th place in the 2011 report.

The Ease of Doing Business ranks locations in terms of how easy it is for businesses to start up, operate, expand and close shop.

According to the World Bank, the Philippines made progress only in terms of putting in place a new law on corporate insolvency. Apart from that, the country undertook no other reform in the area of improving the environment for doing business.