Remittance growth slows to 4.1% in March 2011 to $1.6B

Remittances rose further, albeit at a slower pace, in March as the impact of the continued deployment of Filipino workers to alternative labor markets offset the ill - effects of the recent disaster in Japan and the unrest in the Middle East on employment offshore. ( More from this said article can be found in the Philippine Daily Inquirer, Business section of the May 17, 2011 issue and grant fully authored by Ms. Michelle V. Remo)

Remittances coming from our OFW or Overseas Filipino Workers, based on its annual growth rate in March was slower than the 6.2 percentage registered in February of the same year and about 7.6 percent in January with only 4.1 percent. This in effect of the continuous deployment of Filipino workers to alternative labor markets affect the ill - effects of the recent disaster in Japan and the unrest in the Middle East on employment offshore.

This, for me, has indeed a great impact on our economy since remittances plays a vital role as it's significant driver of growth and helped boost consumption of Filipino households. Hence, if it is given proper attention and more job orders will come for the Filipino people, the buying power for our peso increases. Thus, we will not anymore suffer high prices for our commodities and someday who knows that I will be also able to do my part as a Filipino contract worker abroad in which I coved share for the betterment of our economy.

In addition, the government must promote technical courses that are very much in demand abroad for students to take. Through this manner, every Filipino will be prepared to face any job opportunities abroad coming their way which would in return, bring an influx of remittance to our country. To conclude, I would just hope for the best and for peace to fully prosper in our world.

Strong stimulus to keep PH afloat

The Philippine economy will likely remain "resilient" for the rest of the year due to a strong agricultural sector and the multiplier effects of government spending, despite the threats posed by higher crude oil prices and the fallout of the natural calamities in Japan. (Philippine Daily Inquirer, B1, Wednesday, April 27,2011)

Understanding this economical issue makes me proud to be a natural born Philippine citizen. As said and or stated in this article, we Filipinos still have the courage to fight and survive all current struggles and problems our country is facing today. Problems like the continuous rising or soaring of budgets and prices in our country, oil, transportation fares and other resources we need for living I admit concerns us all immediately. Maybe some won't mind these kinds of issues because they still can handle it but sooner or later they will come to their senses and conclude that this indeed is a big problem to our society. It is a good thing for us that we still have our agricultural sector or resources to look up to, It can still help our country survive for the rest of the days, weeks and months that follow.

Our agriculture plays a big part to everyone in the Philippines but it mostly affects the natural born and naturalized citizens. The agricultural sector can still manage to cope up with the economy therefore making it a stable one. To relate this issue to my own personal means of living each day, I say it is indeed a factor that we should make a big deal out of. I imagine myself, dealing with the continuous price hikes that would later make our country experience an inflation to the economy as well, being a disaster because we would also experience shortages with the people demanding for goods and resources that make our means of living. We would keep getting shortages but sadly the economy cannot handle it anymore for we don't acquire enough money later on to balance the prices of our country. As a regular student, I won't be able to continue my education if these prices continue to rise, because we would not be able to manage and balance it financially.

Eventually, like I stated that shortages will continue to occur and we can't make the most out of our means of living everyday anymore. To conclude, I am happy that our government can still manage our economy throughout all the prices hikes. I am very thankful for our country for being such a rich nation in terms of the agricultural resources.

BISHOP BATS FOR HIGHER PAY FOR WORKERS

A Catholic bishop is supporting calls for a wage increase so salary earners could cope with the skyrocketing prices. Manila auxiliary bishop broderick pabillo said that President Aquino must allow workers to receive a "decent" salary increase to cushion the impact of rising prices of oil, transportation and other basic goods. The price of almost everything is increasing, so how can our workers cope? These capitalists cannot let our workers run dry, Pabillo, also chair of the Catholic Bishops' Conference of the Philippines National Secretariat for Social Action told reporters in an interview. Last week Labor Secretary Rosalinda Baldoz said workers should either get a wage increase or raise in their cost-of-living allowance (COLA) as a result of the recent price hikes brought about by the crisis in the Middle East. Baldoz noted that the purchasing power in Metro Manila had been eroded by P7.48 while the inflation rate in some regions had breached the government's target of 5% for 2011.  (Philippine Daily Inquirer, Monday April 11, 2011 News section p. A11)

Understanding this economical issue in our country, I would gladly approve of what the catholic bishop had proposed for. Living our everyday lives here in the Philippines lately has been such a catastrophic and somehow problematic way of living. We are currently experiencing and or facing an increase and an increase that is not meant in a good way for most of the country's total population. Our products, resources one by one have been slowly climbing up the economical line making it's prices very hard to attain and maybe even for some, unattainable anymore. Oil prices keep going up and up and our Government blames it on the ongoing crisis in other countries such as the Middle East territory of region. 

Due to the ongoing hike of oil prices, transportation fares also began to rise while keeping up with the other goods and products that we need for our survival. We as ordinary citizens, definitely cannot cope with these skyrocketing prices of resources unless our government administration deals with this problem immediately. As a response to the article posted by the bishop, President Aquino said that he had asked his economic managers to study how to mitigate the impact of the high prices on workers. Among the measures being eyed are the imposition of price controls, the reduction in the value-added tax (VAT) and a typical wage increase.

Pabillo said that the president's decision on the issue would either reveal that he is on the side of the laborers or the capitalists.

The government indeed needs to deal with these issues to make our a country a more peaceful economic society. They should approve the proposal of Bishop Pabillo but make a few adjustments as well to balance fairly the salaries and prices of our resources.

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