Topic: Philippines will drop as a Country, Economy on its worst! - page 2. (Read 790 times)

I am a Filipino. I know every body was experiencing hardships. We are in the situation that we never expect to happen nor got prepare for this..but we can do now is do everything we must do..try to survive..be healthy and never depends the current situation with the government..everyone is struggling but never ever depends on what will you eat..where can you get or finds assistance from the government...because in the first place the government doesnt intend you to be in that situation...we Filipinoes knows that we have this mentality and personality and we are born naturally as "madiskarte" so i think this would be the great time to use that skills and never depend your survival in the government.. I also believe in the Filipino saying that "hindi kasalanan ang maging mahirap pero magiging kasalanan mo kung ipinamana mo ang kahirapan sa angkan mo"... why?because you can do better..whether there is a pandemic or not we can do something..whether you  have that academic skills or not ..remember nowadays hindi na importante na ikaw ay graduated from a well known schools and university because your boss can be a high school graduate but has skills to improve his way of living...its a matter of striving harder and use your skills for you to survive and improve..use that filipino personilty not the crab mentality..especially nowadays... the only person you can trust is your self ..strive harder.. trust your skills..work harder..pray more... invest patience and at the same time makes your self more secure, healthy and treat everyone especially outside your house that has Covid so you will take more precautionary measures..atleast, you will survive and will not depends on the relief and assistance from the government..also try to search more online income especially in bitcoin world 😊

I think governments in every country has ways they are pissing people off lol. I have also been living in a country where the government is very bad, and seriously, in a situation like this there is really nothing you can do about it unless the citizens will come together and protest for what’s right.

Even after the protest the government might still ignore the people and continue with what they are doing. Another way is to wait for them during the election and then vote them out. What if the next government is bad as well lol? That’s why you shouldn’t be relying on the government, make plans for yourself man.

The solution to the Venezuela problem is very simple, it's just that the complexity of the problem makes printing money useless. Venezuela depends on its economy only on oil exports, so when the price of oil falls or demand is lost it becomes a big problem. The high dependence of the Venezuelan people on imported goods for consumption, thus causing foreign exchange reserves to continue to deplete if income from the energy sector is lost.

I will agree with all of this.
People are lacking discipline.
People are hard-headed.
People prefer to go rally and go outside instead of just staying inside their house which is quite useless I think.
What's worse is if they got infected, they will blame the government with it. I hate to say this but some of our fellow citizens are dumb, stupid and idiots.

We know already that we are having a hard time flattening the curve and yet they aren't following the protocols. F*cking citizens.

I followed a stock analyst and he said last 3 months ago that a recession will happen because of what is happening. The basis of a recession is that when the GDP of our country shrinks or goes down 2 consecutive quarters. It happened Q1 and already happened again at Q2 which is I think expected. What is important right now is to survive and don't go out in your homes so at least in that way you are helping the country.

That has been the case for the Philippines and even who ever sits as the President, there will be rampant corruption. But the problem with Philippine government is that there are only few officials who goes to jail even they are blatantly guilty of sacking the country's money.

To be fair, not just the Philippines, but majority of third world countries as well. It is an invisible enemy, and we need everyone's cooperation to help stop the spread of infection. But it seems the Filipinos lack the discipline and they all blame it to the government.

However, it is sad to hear that, Philippines GDP shrinks 16.5% because of coronavirus.

duterte had printed several times look at the 100php bill you have it might just be one of it with his signature.  printing may not solve covid crisis but these bills will be distributed. it doesn't matter if the value gets low in the economic indexes but for an individual who still has 8000PHP in his hand will still think its valuable. it still can buy a sack of rice which the price of rice had been controlled by the govt.

Australia is also about to print.

The problem is the broken system that still currently using in the country, there is still massive corruption where people are now becoming angry because they are now aware that there are many corrupt officials sitting in the government. The government of the Philippines are still having a hard time to flatten the curve of the covid 19 infection. It is sad because everyday, thousands of people becoming infected. There are only few cities that have a mass testing program and it is also the reason why there are still a lot of people who are not being testsed because of the high fees when it comes testing.

I'm not affected by this because I'm not even contributing in PhilHealth but some of my relatives are contributing on it.
I also saw one post in Facebook yesterday saying that PhilHealth "IS NOT GUARANTEED". Take note not guaranteed so they are saying that the company is like an investment thingy :X.
But anyway it happened already so lets just wait for the investigation results. If somebody will be punished then so be it and if none then for sure it will be a huge disgrace for the government itself.

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Anyway there is at least good news. Russia donate some of their vaccine to the Philippines for clinical trials.
The vaccine showed promising results in the Russian Patients that is why they also tried to donate some in our country for some trials.
This is just one good news. Include the donation of Avigan tablets that may help also the patients .

The country is so divided by politics and lacks unity to tackle the current crisis. I believe no government in the world is very ready for this type of situation but if the implementation and measures are executed well with the help of its citizens I think we can do better no matter what of tier of countries we lived.

Printing more money leads to inflation which means the purchasing power of their currency will lose.when the country is in deep economic crisis and they just keep printing more money will results into hyperinflation just like what happened in Venezuela. The government needs to develop its taxation policies to give enough money in the hand of people which can bring money circulation in the country but it will take years or decades to recover from it. 

what is the problem with that printing money and lending?

relax people 

RE: BSP Printing more banknotes during pandemic

I can't find any article that supports that. What I only found is that they recently upgraded the designs of the new peso bills but I read a proposal from a group of economist that printing more bills at this time would be beneficial if they could lend it out to small and medium businesses. That's probably a better option than using it to pay off debts or just giving it for social amelioration programs. If BSP hasn't done it yet, they should probably reconsider especially now that the Philippine economy is in technical recession. The added two-week lockdown in NCR this August also stiffles the current measures for economic recovery.

Government measures so far in raising cash that I'm aware of:

1. More Taxes - The online business industry have been shocked with recent announcements from the BIR. I've also read more tax proposals being discussed in Congress.

2. Issuing Treasury Bonds - The Bureau Of Treasury recently sold five-year Retail Treasury Bonds which lasted for two weeks. They were able to raise Php516.3 billion (source).

3. "Sold" securities to BSP - The Bureau of Treasury (BTr) sold Government securities under a repurchase agreement in the amount of Php 300 billion with a maximum repayment period of 6 months (source).

4. Business stimulus packages - These are still pending in Congress but if approved, it'll help generate more revenue as businesses would likely take advantage of these incentives. The problem is if smaller establishments still have the money to restart and that's where bank loans are crucial. What's intriguing though is bank loans have slowed down in June according to BSP.

Yes I agree. Printing more money to pay debt just leads to more problem in the long run. It should be used in improving the economy of the country.

As of now, our government is issuing P1 billion (roughly $20 million) to improve the economy of the Philippines which led me to believe that our government actually has funds to spare and money reserved for the betterment of the country. Printing more money to pay debt just creates unneeded inflation which electronicash is implying that the government should do.

Not all money prints will end up a hyperinflation. Depending on the purpose of the government to print money. China is a country that prints money based on layered projects. Japan also printed money to support its development. Printing money to buy dollars and then using them to pay foreign debts is a move that kills the national economy. If we need to print money to pay debts, it means that the national economy and trade transactions are in deficit, it will only add to new economic problems.

There is nothing wrong with flooding the market with money, especially in the current pandemic conditions, by flushing the market with money, it is hoped that it can be absorbed by the small and medium business sector so that it can drive economic movement. So the principle is not to hold back the circulation of money but to flood the money market. Indeed, there will be inflation but the value will not be too high as long as the aim of splashing the market is to boost production which can stimulate consumption, not to pay debts or pay for imported goods. It is better if there is inflation but all people have access to buying, rather than cheap prices but many cannot afford it.

For the improvement of the national economy after the pandemic, printing money must be combined with the development of an independent industry that is free of imported raw materials, free from imported labor, and free from foreign debt, by maximizing natural resources and national human resources.

To start with, I don’t think your country has the worst government in the world as you have said.
Have you checked other countries, especially developing countries and the third world countries? They are the ones with the worst government if I’m to say.

In fact government in every country is bad, if you ask anyone they are always going to complain that their government are the worst, that’s how it is. And as for that of the number of covid-19 cases increasing, I think the citizens should try to be careful and stay indoors if possible, that will help to curtail the numbers.

I know that every country prints its money but do you think this will solve the problem? Do you even know the consequences of printing more money? Yes we can pay the debts of our country in a faster way but do you think this will help us in the long run? Do you know what hyperinflation can do to our country in this state?

What do you mean the value of our peso doesn't matter? Then let's say we printed more money to pay our debts but it changes the stores prices by double, do you think it still doesn't matter? It matters a lot especially during this pandemic times.

Lots and lots of corruption even before this pandemic happened. Right now, the administration is invetigating the said billions corrupted by the PhilHealth. It is been a huge talk right now and it is been trending for a while. We will be seeing if this is true though since those people are saying that it is not true, not for long though.

Philippines is somewhat like a puppy when it comes to following the rules so you can't expect it to make use of that type of tactics, Besides just what they have said, we can knly Generate (Print) Money only that is equal to our reserveed funds which is in currency of Gold. Though there are already corruption going on in this times of pandemic some of them are surely part of big sindicates who has a control of black market that can print money.
To Keep it short, it will never be a solution.

do you think duterte administration didn't print money?

its how the economic growth works. if duterte administration won't be printing bills for the Filipinos while other countries are printing a lot of their bills, its our debt that is being taken advantage by these countries. while we owe, our country should be printing more for our debts to shrink. because the rest of the countries are trying to dwindle their own debts as well by printing money. the value of peso doesn't matter because what matters is whether it can still be used to purchase from stores are are still accepted by stores.

I'm also a Filipino there is a growing concern our government is having a hard time to decide on whether to choose lock down or opening up the economy, the government cannot subsidize anymore because they have already spent a lot on the three months of lockdown and worst are the reports of corruptions on the leading government health care provider, the only bailout is to take another loan again.