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

5 Comments:

At 8:56 PM, Blogger bayibhyap said...

Toilet cleaners or otherwise, they are the ones who make a difference to the national economy, not those high sounding politicians who split hair over these "toilet cleaners" should be allowed to vote at all.

On a more serious note, the country takes a precarious position if the remittances of the OFWs make such a significant contribution to the national economy. The well being of the OFWs and hence their remittances are both dependent on external factors which may be beyond the control of the government.

 
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 cathcath 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 cathcath said...

jay,
ako talagang naglilinis ng toilet pagkatapos kong gamitin.


titorolly,
hindi naman magugutom ang mga masisipag.

 

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