Decline of the Philippine Peso

Decline of the Philippine Peso:The economic downturn has resulted in the devaluation of the Philippine peso and subsequently, a fall in the stock market. The fiscal conservatism strategy adopted by the Philippine government has yet to reflect a positive effect on acceleration of economic growth. 6 percent growth in the gross domestic product in 2004 and 7.3 percent in 2007 has yet to accelerate to the linear GDP growth projected by the government.
http://internationalbusiness.wikia.com/wiki/Philippines_Econonomies_Strengths_and_Weaknesses_MF


This Economic problem has a great impact to us Filipinos. Just like in our case, we are suffering from the high prices in the market. We need to higher our budget just to sustain our needs. Also, the prices of gas are increasing and the result of this is the transportation price also increases and it adds burden to our family. And last is the increase of taxes that all of us need to pay and again it a burden. I just hope that government realize about this and must solve this problem as soon as possible.

Import-Export Imbalance

Among the many economic problems faced by the Philippines, one is the imbalance of imports and exports. The negative trade is heavy and only counterbalanced by the service account surplus. Over the last two decades, Philippine exports have shifted from commodity-based products to manufactured goods. However, in the midst of the current global economic recession, the exports of electronics, garments and textiles are yet to reach a level of import neutralization. http://internationalbusiness.wikia.com/wiki/Philippines_Econonomies_Strengths_and_Weaknesses_MF

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Through this Trade imbalance, many investors had been taken by the other competitors from the Philippines and this may led the Philippines in an unequal development the country itself. Our country has nothing to do to compete with other country because of their low cost labors and raw materials.And I guess the government need to control the importation and only import product that is really necessary and also the products that our country do not have. In helping our economy, exportation is one of the key for it, so the government must export all Philippine products to make changes on the rate charges and also to invite more exporter and business owner to do the export business.