I am not an economist nor a seer so I base my assessment of the economy as any mom would. For instance, how much can I buy items in the grocery with the same amount of money Lately, the items seem to have dwindled to a few.
Why am I not surprised with the stellar performance of the economy in the first quarter? Well, for one, you got the 2013 elections which is always a good time for voters and suppliers of election paraphernalia and manufacturers of both food and non-food items plus of course those buying votes for as high as 5,000 pesos per family in some areas.
Heck, if it puts food on the table, why not, right? They would not know anyway who you voted for. Except that at the end of the day, that really did not matter since we got a pre-programmed PCOS machine. Who are we kidding?
The President said “you ain’t seen nothing yet” referring to more good things to come in the second quarter of 2013. Let’s hope he is right for our sake as government intensifies its activities in infrastructure, agriculture and tourism. In fact, the Palace said the government would focus on “fostering inclusive growth” most likely a reaction to criticism that all these talk about better than expected growth has not brought better than expected progress on the lives of our people. NSCB stats show that the poverty incidence rate has not moved since 2006. Only the rich got richer.
So what are we doing in DTI? The Strategic Industry Development Program was launched last year with the goal of identifying the needs of the various industries and strengthening them especially with the forthcoming Asean Economic Community integration in 2015. Each industry has been busy crafting their roadmaps. After the roadmapping exercise, all these will be collated into the Manufacturing Industry Roadmap and a Comprehensive National Industry Strategy will be formulated. The Philippine Institute for Development Studies has been commissioned to manage this project and anytime soon, they should be reporting out already results. Among the industries that have already submitted their roadmaps are chemicals, rubber products, furniture, copper product, biodiesel, autoparts, petrochemicals, cement, ceramic tiles, mass housing, motorcycle parts, iron and steel, plastics, metal casting, electric vehicles, creative industries, bamboo and air cargo logistics.
The others? Either they already have a roadmap or they just don’t care to take the same road this government is going.
God is Great!