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.
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