THE real story behind the Philippine growth narrative lies not in the numbers of gross domestic product (GDP) growth or widening trade deficits that many Filipinos actually don’t grasp, even the educated ones, especially when gauged against their actual financial condition and what’s left of their monthly income before the next pay day arrives.

As the US-basedAtlantic magazine noted ages ago when the Philippines supposedly emerged from being “The Sick Man of Asia” and into the limelight as the world’s latest economic darling—after credit rating agency Fitch Ratings lifted the country from junk in terms of sovereign creditworthiness to investment grade for the first time ever—the grim reality behind such accolade was the fact that only an elitist few were actually benefiting from the economy.

Premium + Digital Edition

Ad-free access


P 80 per month
(billed annually at P 960)
  • Unlimited ad-free access to website articles
  • Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)

TRY FREE FOR 14 DAYS
See details
See details