Adequate gov’t policies needed to sustain growth–economist

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MANILA, Philippines – The third quarter growth of the economy by 7.1 percent was a good sign but it must be backed by adequate government policies to ensure the development and improvement of the people’s welfare, economist Solita Monsod said Thursday.

Winnie Monsod. Photo from https://www.facebook.com/profwinniemonsod

“It’s a good sign because all sectors experienced growth, agriculture went up, industry went up, services went up,” Monsod said in an interview over Radyo Inquirer 990AM.

“Growth is a necessary condition, but it is not sufficient for the development and improvement of the welfare of the people,” she said.

Monsod said the country’s wide gap between the rich and the poor will not be solved just by economic growth alone. “It must be solved by government policy,” she said.

Among the projects that she said the government was already doing in order to make sure that the poorest of the poor are not left behind was the Conditional Cash Transfer (CCT) program.

One important issue that the government must also address in order to further improve the economy, Monsod said, was the “crisis in education. She said that only 68 out of 100 students make it all the way through elementary.

The Gross Domestic Product (GDP) growth is a measure of the country’s productivity. Educated people are more productive and thus can contribute more to the growth of the economy, Monsod said.

“What is important is for everybody to get a chance to contribute to that production. How can a person contribute if he cannot even read or write?” she said.

When asked about the Philippines being seen as the “roaring tiger of Asia,” Monsod said the country could not yet be considered that but it has the potential.

“The growth should be sustained” and it should not be just a one-time event, Monsod said.

Listen to Radyo Inquirer 990AM for the full interview.

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  • Iggy Ramirez

    Of course success does not happen overnight. But people are already getting into the fray by making themselves known and begin saying obvious things. Everybody wants to get credit and everybody wants to be credited for chipping in a helpful suggestion.

    There’s a saying: Success can suddenly have a thousand fathers and failure can suddenly become a bástard.

    I am not entirely elated by this news because there is still a lot of uncertainties that could play out there, but I think our country is already taking the right path. Thanks largely to our president who seems to have mustered the art of being incorruptible. Criticisms and impractical solutions are the least of what our country needs right now.

    I like Winnie but she is making it appear as though she is the only one who knows how to think. She thinks that the government is stupid enough not to have thought about sustainable growth. She seems to think that she is a foreigner in this country and everything that happens in it doesn’t affect her. She places herself in the perspective of an observer.This is a typical crab reaction and it is evident in all forms, status, age, educational attainment, or walks of life among Filipinos. 

    Fúck all these suggestions. There is really one thing this country needs and it is worth more than any amount of foreign investment: it is the attitude of the Filipinos.

  • regd

    And binay will see to it that it will be short-lived!

  • http://pulse.yahoo.com/_ETIVE4H6I7ZVBAL72HE3VLGCA4 nicosan

    i pity some people here… when there’s a reason to be happy… they always find a reason not to be…

  • Jun Go

    truly we as a country should have a ‘sustainable growth’ and should not be a one time up and several times down.

    let us do appreciate some constructive criticism in order to extract the best in our citizenry’s wisdom to have a collective effort to alleviate the entire country in unison to its main objective of industrialization.

    admittedly there will be poor and rich in any country, to narrow the gap between these two would definitely a major change and impact to our sustainable growth.

    tulong-tulong sa kaunlaran para sa kapakanan di lang ng iisa, kundi ang buong sambayan at bansang Pilipinas!

  • http://www.facebook.com/boy.dalius Boy Dalius

    Its fun seeing how the critics bark these days.
    Like a true dog. All bark, no substance.
    No matter how long the bark – they only spit out one word..”Arf!”
    LOL.

  • http://profile.yahoo.com/E2AH45T2URH5GVY6DQZCI3MK2E Ronnie Adriano

    Give credit to where credit is due!  The Bagong Bayani OFW Dollar Remittances are a big factor in the 7.1% Growth registered.  The government must take very good care of the OFWs.
    Calling on P.NOY, Vice-President Binay, Congress!  Please Pass the law to peg special highest exhange rates applicable to the Bagong Bayani OFW Dollar Remittances!  Return the favor to the OFWs.

    • popeyee

      of all the comments here your is the best…

  • SignTheWaiverNow

    The key operating word is…..

    SUSTAIN

    This should not be a one time thing… I hope…

    • http://profiles.yahoo.com/u/LSC6LC55H5VT4O7223VVC7XD7A Maurice

      I agree.

      If we experience such growth grates over 3 to 5 years, then we can call ourselves “Tiger economy”. Then we would also see a big reduction in poverty.

  • EdgarEdgar

    After the initial ecstasy and revelry, the hollow triumphalism of Aquinomics is proving to be nothing but a shortlived hype. One of the president’s men, Trade Secretary Gregory Domingo, admitted off the cuff that the seemingly higher GDP figure for Q3 is entirely attributable to the fact that 2011 saw a dismal growth rate. In fairness to the Trade Secretary, he refused to participate in overplaying last quarter’s GDP. ADB likewise criticized the current administration for not spending enough in 2011 thereby stunting economic growth. Coming from such a low base last year, the public is thus easily led to believe that things today are rosier than rosy, the sky bluer than blue, the glass fuller than half full, and therefore all Filipinos must be happier than happy.

    Credit must also go to the current NEDA Chief Balisacan who clearly knows how to play ball and play up the numbers. Now it can be said that the former NEDA chief Paderanga had to leave government because he clearly lacked the social skills to please the president at whose pleasure he serves. Fudging and flattering were never Padaranga’s strong suit. He is much more at home now and much happier in the academe than he ever was in the government. And as if by some well-calculated coincidence, the departure of Paderanga ushered in a quarter of fantastically spectacular growth under his successor’s watch.

    If Q3 indeed benefited largely from growth in public construction, the more we ought to be vigilant as roads and irrigation projects are lucrative sources of corruption. More so with the upcoming May 2013 elections. And if Q3 indeed benefited just as much from growth in private construction, banks and lending institutions ought to be more mindful of oversupply and quite possibly the rise of non-performing loans.

    All told, the irrational exuberance was fun while it lasted.

    • martial_law_baby

      Wala talagang kasiyahan ang mga taong katulad nito. Hindi titigil dahil nawala ang mga idol nilang nilimas ang kaban ng bayan. Go migrate somewhere else. Bukina Faso perhaps? Bobby Tiglao, ikaw ba yan?

      • EdgarEdgar

        In a vibrant democracy like ours, it is not only the right but also the responsibility of every citizen to point out discrepancies between data released by the state and realities on the ground. You can hate my analysis and construe it as criticism, just as Noynoy habitually does. Or take it as it is and make a better country out of it. As a citizen, I did my part in highlighting the mathematical convenience of coming from a low base.

        Try critical thinking and analysis every once in a while. You’ll find it intellectually stimulating.

      • elimsqui

        Can you cite some positive comments you post here?

      • EdgarEdgar

        Here’s the feel-good positivism you so desperately need. All in heed of Doctor’s Orders:

        Clap! Clap! Clap! Let’s all give it up for Aquinomics! So when do we the ordinary Filipino people get to enjoy the yellow dividend? And how do we convert the high PSE index and the paper-wealth to food on the table? Or tuition for my grandkids? Better yet, how do we capitalize on the new highs of the PSE & the Q3 GDP to propel our income per capita to greater heights? Not just greater heights but really really really higher purchasing power parity? And with the Philippines PESO appreciating so much these days, how come PH ranking has not improved in the Big Mac Index? And while Noynoy and his spinmeisters are at it, when’s the next market correction or permabear so we can cash out before it strikes? Of course, when Aquinomics is being banner headlined, very often mean reversion is not far behind, just like gravity and other immutable laws of physics. But if ignorance for Noynoy at present is bliss, at least let us the level-headed Filipinos cash out with our record-high gains before these artificial gains vanish into thin air. Better yet, how much farther can our high GDP growth mathematically continue until it runs out of low base from previous years and ceases to look fantastic? Congratulations to NEDA Chief Balisacan for playing ball and playing up the numbers. Good riddance to ex-NEDA Chief Paderanga for not knowing how to fudge and flatter his master. Clap! Clap! Clap!

      • ofwme2807

        have you contacted mr paderanga and ask him about your opinion???its easily done get the answer from him and tell all what he has to say….

      • EdgarEdgar

        i have. he refuses to be quoted. but he pointed out that he refused to participate in fudging and undue flattery. he further pointed out the low base of Q3 in 2011 which mathematically allows for this year’s Q3 to make a seeming quantum leap. he even pointed out that with the next round of stimulus package being prepared by Noynoy’s administration, better known as massive election spending, could be better used in enhancing agricultural, industrial and service productivity of the country. wouldn’t you agree with him?

      • ofwme2807

        so you did and failed because in the first place who are you its just a waste of time…so what you’re all saying is not coming from him but from you so its pure hearsay bola tsismis nothing but if it is true contact GMA news ABS-CBN and TV5 and tell the story as told you by Mr. Paderanga hahaha…and who will believe in a clown like you???

      • EdgarEdgar

        well, if it’s feel-good positivism or yellow kool-aid you’ve been looking for, you clearly came to the wrong person. that’s because I tell it like it is. and so does Paderanga.

      • http://pulse.yahoo.com/_EXFI4EUGM23PQ4FMQKLVH36OXI Jose

        Do you count creepy posts about GMA’s body as positive?  Because it’s really the only thing he posts on here, other than misguided, ignorant comments on the administration

      • lucidlynx

        in a democracy, no one has the right or responsibility to point out discrepancies if he/she can’t back it up with facts. it is not enough to just raise the so-called discrepancies without being able to PROVE them! estupido!

      • EdgarEdgar

        I am merely quoting Trade Secretary Gregory Domingo who is one of the president’s men. He pointed the low base of Q3 in 2011 that allows for the mathematically high growth of Q3 in 2012. I will redirect your comment to him after lunch.

        Have a nice day!

      • martial_law_baby

        For one thing, at least you acknowledge that we have a vibrant democracy. But I am sure you wont feel happy about it because this can be attributed to the current government. Criticizing what needs to be criticize is one thing. But to criticize something just for the heck of it, especially if it’s a good news, you are no longer a critic, but a perennial cynic. I did not vote for PNoy and I don’t necessarily agree with some of his actions but I will not take away the fact that we are in a better situation than when your idol little lady was at the helm. You should be the one to try appreciating some good news that comes our way. It is more emotionally and intellectually stimulating. 

      • EdgarEdgar

        Thanks for sharing your life story. I was not stimulated nor was I expecting to. Care to go back and tackle my original post point by point?

        This time, only facts please.

      • martial_law_baby

        Wow, the all knowing very intelligent being has spoken again. You totally missed my point in my post. Perhaps so few appreciate you so you are just returning the complement. I don’t think I can measure up to your intelligence, you must have been educated or worked abroad. At saan naman kaya nakuha yung pera na ginamit sa pag aaral mo at sweldo mo. Hindi ako magtataka kung galing yan sa kaban ng bayan.

      • EdgarEdgar

        ……. uhm ……….

    • http://pulse.yahoo.com/_EXFI4EUGM23PQ4FMQKLVH36OXI Jose

      Ah, the verdict from the King Crab himself.

      Given your irrational hatred for the president, and your (frankly creepy) obsessions with both his sex life and his predecessor, I’m just going to say that P-Noy could cure cancer and wipe out poverty and you’d STILL attribute the entire thing to GMA.

      • EdgarEdgar

        Thanks for stalking me Jose. I knew it. Every time you come online, you never fail to stalk me. Your obsession for me is too obvious. Like I said previously, I am spoken for. My love for the little girl is too much. She’s cute, cuddly and so kikay in her flowing black hair and shapely petite bosom. Most importantly, she’s girl kasi. Something you and Noynoy will never be.

        We love you GMA! That’s the glory of, that’s the story of love!

        Please extend my regards to the Queer Crab itself, Noynoy.

      • http://pulse.yahoo.com/_EXFI4EUGM23PQ4FMQKLVH36OXI Jose

        You just might be the creepiest person on the internet.

      • EdgarEdgar

        And yet you keep coming back for more of me.

      • http://pulse.yahoo.com/_ETIVE4H6I7ZVBAL72HE3VLGCA4 nicosan

        creepy

      • EdgarEdgar

        eeepy……

      • http://pulse.yahoo.com/_EXFI4EUGM23PQ4FMQKLVH36OXI Jose

        Hey, if people are going to be sad attention wh*res on the internet, what’s the harm in humoring the sad bastards?

      • ofwme2807

        you are free to join GMA with her neck  brace @ the VMMC daily visit her bring flowers that’s what she needs now or else….that’s the way to express your love to GMA…go to the prison in hospital and watch her soap adn give moral support…

      • EdgarEdgar

        We love GMA! No one can take that away from us. Not you or yellow demons like you. Our little lady of VMMC is the only thing that stand between this this yellow monster of a president and the yellow dictatorship coming together.

      • ofwme2807

        yeah you love her so much I can see that….the little lady is now very much down devastated in her lowest point in life ridiculed cursed and many more to describe…while the fat man who else the mastermind is still much free enjoying freedom oustide the jail…go give them a visit everyday supporters like you so they can be comforted and continue the fight…

      • EdgarEdgar

        now that is a very unkind and unchristian thing to say. forgive ofwme2807 Lord for ofwme2807 does not know what he/she/it is doing.

      • levis2012

         You love a corrupt! That’s how perverted you are!

      • EdgarEdgar

        Oh we love GMA very much. She’s cute and cuddly. And she’s girl kasi. Something our ugly bald gay president never will.

        Levi and Noynoy getting married? Now that’s perverted.

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