Ponce, John L

BSN-301

Philipines development and current state

Hope becomes possible for the Philippines as for the current state to be a

prosperous country but before that, had to state the reason about the bloodless

revolution and why our country on that time had an economic and political crisis. It all

starts dating back to 1970s where Marcos declared the martial law that causes disarray

and having debt to the World Bank for about 24.4 billion dollars that causes many

problems to our country. Then in 1986 when Corazon Aquino came into power by People

power revolution, she changed the constitution of 1970 to 1986 where she made some

changes and somehow resolve some of the debt and improve economy. Though, when

she did not commission the nuclear power plant project in Bataan, it cause the nation to

suffer serious reduction in countrys energy capacity and adding to used money of the

state to be put into waste of resources and money. Present year, 2017. President Rodrigo

Duterte came to lead the country and in this year according to World Bank latest edition

of global economic prospects, the Philippines is the 10 th fastest growing economy in the

world as of 2017. It is also stated in there that our economy has also benefitted from

stable macroeconomic environment of low inflation and low debt GDP. So when we have

low inflation rate, it would mean general decreased in prices of goods and fall in

purchasing value of money so it could do good especially in food for the people to function

well and a healthy human being can do more labor force for the country and could yield

better economy for the country, unemployment had also fell to a historic low of 4.7 percent
in 2016, as 1.4 million net jobs were created having more opportunities for those people

who are having hard time getting jobs. And because of the technology today that made it

possible. However, the countrys 18 percent underemployment level has remained

broadly unchanged over the last ten years. It would only reflect the prevalence of

informality and related-job-quality concerns. The poverty incidence in the Filipinos had

dropped from 21.6 percent in 2015 from 25.2 percent in 2012. It shows that within these

three years, due to low inflation rate and higher employment. It contributed to the decline

of the number of the poor and improve our Philippines to be a prosperous country.

In the present economic limitations of the country. It would pertain that certain

projects that would hinder the development of the economy. There is nothing wrong in

the economic limitations as for what I can know for now. But in foreign investments and

ownership, it would seems that Philippines hinder potential growth with foreign ownership

restrictions to our country. According to article 7 of the Philippine constitution, foreign

investors are prohibited to own more than 40 percent of real properties and business so

the 60 percent would go to the Filipino investors. There are also other restrictions to

foreigners like about owning land, investing in public infrastructure and prohibiting them

to utilize the countrys natural resources. So they could only do limited things to these

infrastructures and harder to do expected plans of their activities for their project so doing

these here in the Philippines by foreign investors. it could be that it is the way of our

country to protect our natural resources to abuse of other foreign investors.

The constitutions power had somehow decreased the government officials

corruption under new management of the president of the Philippines under President

Rodrigo Duterte. Which is a former mayor of Davao city and also known for combatting
against use of illegal drugs and pursuing corrupt officials. He is also known for killing bad

persons, literally. So the people of the Philippines take notice to vote for this person as

he takes action than words and has proven by making Davao the lowest crime rate all

over the Philippines because of fear against him. And when he took the office in mid-

2016, the president had said that corruption remain deeply embedded in the

government. He had also cast aside most obvious perpetrators in the government, so the

graft should be declining now but some officials remain in position to steal public

resources so it could be tough to do so. There are people who are involved in the corrupt

cases and he had not removed them yet since due process is needed and there are not

enough evidence to do so and it would do issue to the suspected individual if proven

untrue. It would cause an issue against the president also damaging the government

itself. According to the paper De-institutionalizing corruption in the Philippines by Eric

Battala, an associate professor in the De La Salle University. It is written among history

that leaders signing blank financial statements taking roadwork kickbacks of at least

20% to showing 40%. Showing proof of taking resources from the public. In conclusion,

there are signs of corruption in the government even within the constitutions power

through good corrupt officials using it to do further gain for themselves. Though in the

new management of the president, he is aware of these individuals and is finding ways

to put them where they belong. It cannot be prevent fully now but it is decreased

somehow.