IN A latest survey conducted by the Social Weather Stations, it was reported that the number of Filipinos “who expect their lives to get better in the next 12 months” reached a record high during the final days of the Arroyo administration.
Conducted from June 25-28 this year, the survey revealed that 4 out of 10 Pinoys “expect an improvement in their quality of life in the next 12 months. 5 percent claimed that things could get worse, resulting in a +36 net optimism rating, which, according to SWS, is considered “very high.” SWS reported that net personal optimism improved “across all areas and socio-economic classes.”
On the economic front, Socioeconomic Planning Secretary Cayetano Paderanga Jr. said that the economy “likely grew anywhere from 5.9 percent to 6.9 percent in the second quarter of the year, along with the recovery in the global economy.”
“This growth is expected to have been fostered by the recovery of the global economy which fuelled the strong growth in international trade,” he said.
He also surmised that the improvement in investor and consumer confidence may have boosted growth. “The improvement in investor and consumer confidence, the relatively peaceful conduct of the national and local elections and the added contribution of election-related spending may have also influenced the country’s economic growth,” he said.
“The services sector might have also been a significant growth driver as trade has expanded, primarily with neighboring countries. Finance is also expected to grow along with manufacturing and trade. As in the first quarter, private services may have been strong due to election-related expenses,” said Paderanga in a report from Philstar.com.
However, Paderanga emphasized that “a higher growth path is needed by next year to create adequate employment opportunities for more Filipinos.”
“For 2011 to 2016, we are targeting a higher annual growth path that will bring us above seven percent. At this growth rate and given the right policies, economic gains will translate into higher per capita income and effectively reduce poverty,” he quipped.
Despite some unrest with insurgency and a few hurdles in the political scene, things seem to be looking up — albeit slowly but surely — for the Philippines. Economic digits figure in, but most importantly, a boost in morale and confidence from Pinoys takes a bigger slice of the optimism pie.
Let’s hope that this opportunity to bask in positivism will be sustainable and action-oriented, instead of intense and short-lived. (AJPress)
( www.asianjournal.com )
( Published August 25, 2010 in Asian Journal Los Angeles p.A6 )
