The Philippine economy

Extract taken from The Economist magazine August 23rd 2014 …

After years of puttering along as the tiger economies in the region roared, the Philippines is finally showing some growl of its own. Between 2008 and 2012, GDP grew by an average of 4.7%, rising to 7.2% in 2013.  Investment and private consumption also posted strong gains in 2013, both aided by remittances from Filipinos working abroad.

But concerns remain. Corruption remains endemic despite official campaigns to stamp it out. The Philippines still falls in the bottom half in the Corruption Perception Index by Transparency International. It does similarly badly in the World Bank’s “Doing Business” table: starting a business in the Philippines can leave entrepreneurs mummified in red tape.

The president of the World Bank said that the Philippines could be “the next economic miracle in Asia”. It would help if growth were felt by the poorest residents; at the moment, poverty rates remain stubbornly high. Much employment still happens in the informal sector.

Some wonder where the rapidly expanding labour force – a result of having a median age of just 22.3 years – will find jobs. A youth bulge can be a great asset for an economy. Without jobs, however, it can turn into a liability very quickly.

Bees and pollination are vital for providing jobs and food security.

Over the past 10 years many sectors have been weakening in the essential and extremely important Philippine agricultural job economy.  Look for example at employment in the cotton industry … Jobs in PI cotton industry

Mango and coffee yields
Mango, coffee and many other agricultural sectors are also weakening and therefore job prospects are disheartening for millions of young people in the rural communities.

This website repeatedly shows the crucial connection between the pollination environment and the relative success and employment opportunities for many of these agricultural sectors.  Planners in government departments, educators, farmers, and businesses such as supermarkets can benefit from taking a strategic viewpoint, so that the youth bulge becomes an asset for the economy rather than it turning into a liability.

About Julian

Julian Wright is a British agricultural scientist married to a Philippine teacher, who has a house and some land planted to coconuts and other crops near Dumaguete in the Philippines.
This entry was posted in General posts. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *