Monday, August 30, 2004

Good news, Bad News

Dear Mouse,

Good news. GDP posted a growth rate of 6.20 percent in second quarter.

Cat sez: The number is up but it was mainly due to election spending and increase in cell phone usage. Besides,it falls short of the required growth of 8 per cent in the next two years in order to prevent the country from singing—Don’t Cry for Me, Argentina Philippines.

Bad news. The GNP growth rate declined from 6.5 per cent to 5.7 per cent. This was attributed to the decrease in the overseas workers’ remittance from 11.50 per cent to 3.3 per cent in the same quarter last year.

We have to acknowledge the fact that the UP economists who authored the white paper on debt crisis pointed out that these remittances are what stop the country from further sliding down to a more serious fiscal crisis.

And there are people who call these OFWs, toilet cleaners.

The Ca t

4 Comments:

At 11:45 PM, Blogger batjay said...

uy may toilet seat picture ka na rin, ang galing naman. hehe.

sinong nagsabing toilet cleaners tayong mga pinoy na nagtatrabaho abroad (OFW)? si spiderman ko ang toilet cleaner, hindi ako. toilet user lang ako.

 
At 12:19 AM, Blogger rolly said...

Let them call you what they want for all I care. You guys made a lot of difference. We could have died from hunger by now.

 
At 3:30 AM, Blogger cathy said...

bhay,
the depreciation of the peso is dependent on the dollar
reserves of the country.

There are only two sources of dollars that bring about economic growth; export earnings and workers' remittances.

 
At 3:33 AM, Blogger cathy said...

jay,
ako talagang naglilinis ng toilet pagkatapos kong gamitin.


titorolly,
hindi naman magugutom ang mga masisipag.

 

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