Strong agriculture and robust homegrown employment can put substance in hollow #Philippines economy
I am still puzzled why there are still people, although in much decreased numbers, who think PNoy has done well. Is it the 5.9% growth in economy? Is it the favorable credit rating? But, we are just like a Mom and Pop grocery store that is sometimes doing good, sometimes bad, but doesn't know why it is so. The owners of the store happen to have a daughter working as a nurse in London and a son working as a programmer in Melbourne. There is a continuous inflow of remittance, so the owners don't care if the grocery becomes a supermarket, or not, or have to be spinned off into another business. It might have to be closed down because there is news that SM, Puregold, or Alfa Mart might come up soon near the subdivision. Of course, any bank will give the owners a good credit rating for they are awash with cash, even if the money is not necessarily from the business itself. And that is the Philippines; we are awash with cash. The financial managers know PNoy is very slow in impleme...