Debt of Society

Speed up reforms, World Bank tells PH

 

High power rates and limited access to financing for small enterprises are among the structural problems that the Philippine government should address so that economic growth can translate into poverty reduction, the World Bank said on Monday.

In its latest quarterly report on the Philippines, the World Bank said the country had achieved low inflation, a sustained economic growth, a declining debt burden, a stable banking sector and a comfortable level of foreign exchange reserves.

But the country should work on graduating from merely achieving and sustaining macroeconomic stability to spreading prosperity to most Filipinos, the multilateral agency said.

“The government has done a really good job in achieving macroeconomic stability. But there are structural impediments that have to be addressed … to achieve a more inclusive growth and to reduce poverty at a faster pace,” Karl Kendrick Chua, World Bank country economist for the Philippines, said at a press conference.

Besides high power rates and lack of financing for small enterprises, Chua enumerated other impediments to poverty reduction—unpredictable regulations, uneven playing field for businesses in terms of taxation, high cost of and a tedious process in starting a business, and limited access to education and skills training.

Read the full article http://business.inquirer.net/50079/speed-up-reforms-world-bank-tells-ph
Reflection
Base sa article, gumaganda na ang kalagayan ng Pilipinas. Ang dating problema na iniwan ni Dating Pangulong Arroyo ay unti-unting nabibigyan solusyon. Tama ang sabi ng "World Bank". Dapat ituon ang pansi ng pamahalaan sa pambasang ekonomiya ng bansa o macroeconomics.
Naging maganda ang pamumuno ni Pangulong Aquino. Nagawa niya hanapan ng solusyon ang ibang problema ng Pilipinas. Isa na rito ang pambansang kahirapan. Nabawasan ito ayun sa aritcle. Ang masasabi ko lang sa huli ay maraming pang problema ang Pilipinas na kailangan din mahanapan ng solusyon pero dapat isa-isahin ang pag-aayos nito.