Philippine Economy: An underdog No More

by: Kayang Lagunde

Following the headlines about the 7.1% growth in the Philippine Economy reported last November 16, 2016, President Duterte in Asia-Pacific Economic Cooperation (APEC) Summit confidently stated: “The Philippines is now open for business.” This bold expression was brought about by the tremendous increase in the growth of our economy amidst various factors affecting its progress such as the allegations of extra judicial killings, the controversial statements made by our president and even the victory of Donald Trump.

While most Filipinos had their doubts, President-elect Duterte, as promised, delivered and this was even backed up by the latest satisfactory rating of 67% for his first 100 days as the highest official of the land.

Financial analysts even describe the success as a good indication that the Philippines will now be able to compete with other contenders in the Asian economic arena.

But even with all the optimism, there are still projected setbacks shortly and economists believe it would come from the agricultural sector. As we all know, the Philippines is a pathway for different extreme weather conditions such as typhoons and other natural phenomena like La Nina or El Nino.

Nevertheless, our resilience not only as an individual contributor but as a country will become our greatest tool in claiming what is long due for our country- Recognition, respect, and progress. But let us not stop and become complacent. Let us give other countries a reason to ask how a third-world country like ours would gain such improvement? We do not owe it to one person alone, but this was made possible thru the collective efforts of both the government and the people who in some ways or another, contributed to achieving the common goal which is to provide a more stable and brighter future for the next generation to look forward to.

Indeed, we’ve come a long way