Economic Growth In The Philippines Case Study

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Executive Summary:

According to Economic Forecasts from the World’s Leading Economist, Philippines continuous to enjoy strong and healthy economic growth. Exports plays an important role in the Philippines economy. Exporting products and services to other countries can greatly affect the productivity growth in the Philippines. Rising imports and retail sales are a testament to steadily strong private consumption, underpinned by strong remittances and moderate inflation, while investment activity is benefiting from improved investor confidence and rising FDI. Ironically, economic growth is sometimes unpredictable. Due to globalization, political issues, natural calamities and other factors, Philippines tend to experience down fall on its economic …show more content…

In some cases, economic growth is unpredictable due to some factors. We have these calamities and typhoons that can greatly affect the production of our goods. We have this natural phenomenon called El Niño and La Niña. Where El Niño events are associated with a warming of the central and eastern tropical Pacific, while La Niña events are the reverse, with a sustained cooling of these same areas. Therefore, these events can affect the production of goods in the Philippines. The real challenge for the local government would be, “what will be their corresponding action if this natural phenomenon occurs”? In this instance, the Government should always be prepared to this natural phenomenon. The government should create and established organizations which can help the farmers in assisting them what are the best possible options and ways to prevent the crops of the farmers not to be wasted. I guess the past and current administration has already done in establishing such organizations for the welfare of its people especially those farmers. The country could also experience typhoons and natural calamities that can bring negative effect to the production of goods. Which is really beyond our control. We cannot do anything to stop any natural calamities to hit our country but Filipino’s are known to be strong, so I expect that after this experience, we are confident to stand …show more content…

Economic growth is the sustain increase in production of goods and services. It is measured by this what we call “GDP” or Gross Domestic Product which is said to be the total of all final goods and services produced in a nation in a year. A nation’s standard of living can only improve if GDP increases. The economic goals in the Philippines are many. The most important include equity, economic growth, more employment opportunities and stability among others. I chose to focus first in our GDP growth. The Government should exert an extra effort in increasing our GDP or Gross Development Product. There are a lot of good outcome if Philippine GDP tend to increase. We’ll stable jobs for the Filipino people, stable level of prices of our basic needs and services in the country without dramatic deflation or inflation and lastly, to sustain growth without large swings in output or consumption. However, before we can achieve these goals. We really need to create new products with high quality standards. Make our products more convincing to attract target consumers. Well, Philippines is rich from natural resources and aside from that we have special soil that has high qualities where we can plant our crops and earn profit from it. We need to improve our crops in the Philippines. Let’s focus in developing our Agriculture sector to provide more jobs

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