BEFORE we bid 2014 adieu, we are reminded to look back and reflect on all the important events that have happened in the past 12 months. Will Filipinos learn from their mistakes and lead themselves to better lives and meaningful democracies, or constitute a false dawn?
Despite some low points on the country’s track record, majority of Filipinos remain sanguine because of the recognitions the country achieved this year. A number of Filipinos from different industries shared their victories on the world stage — a needed respite from scandals and tragedies.
This year the country was hit by a series of devastating natural calamities and threatened by adverse global economic challenges, but the country has proven to be robust and the people generally have remained optimistic about the future, and resilient amidst adversities.
As for the Philippine economy, coasting along is no longer an option. 2014 was a year wherein President Benigno Aquino III’s administration focused on pushing the market to stand alongside powerhouse economies like that of the United States and China.
The administration, however, received critical reviews from critics who said President Aquino’s perceived obsession to prosecute political rivals took away the government’s focus from more pressing economic pursuits. While President Aquino was making advances in fighting corruption, his administration missed the economy’s target this year.
Putting figures aside, there still remains a healthy sense of confidence in the air. Aquino, who intends to sustain a clean and transparent bureaucracy, was able to build on the gains of the anti-corruption campaign, and reduce poverty this year.
He also made good progress in practical fiscal management, which spawned billions worth of savings and job creation. He noted that his government’s initiative to achieve national transformation succeeded in bringing reforms needed to revitalize the country.
The last two decades have witnessed improvements in other emerging market countries, such as India and Indonesia. Because of this, the Philippine economy that has been mired in endemic poverty now has a fighting chance of moving up.
The improving labor market provides a signal of a reliable and fundamental momentum to help the local economy push through the next year. Key sectors of the economy are showing promising signs.
As a developing and emerging country, the Philippines also hopes of a possible fresh start to address existing economic disparities that hamper its industrialization. The country is committed to reorganizing and surviving future financial distress, and in operating productively in the economy.
The country’s economic competitiveness initiative is a bold undertaking—the first, potentially major one in decades. There is no assurance of success and hard negotiation lies ahead. A key ingredient will be firm, persistent political prodding from the top. (AJPress)
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