Are you suffering from "ECONOMIC PROSPERITY DELUSION" ?
by Napanice (no login)
If so, then do a quick reality check because you are fooling yourself. Here's the facts as stated by the World Bank who has been lending billions of money to the Philippine government.
WB: Investments in RP extraordinarily low
By MARIANNE GO
The Philippine Star
CEBU – The Philippine government must focus on raising investments and ensuring that the benefits of fiscal reform programs would lead to poverty reduction, World Bank country representative Joachim Von Amsberg said Thursday at the opening of the two-day Philippine Development Forum (PDF) at the Marco Polo Hotel here.
Von Amsberg noted that despite some of the fiscal improvements and reasonable growth rates, the investment rate in the country remains low at under 15%.
"This is extraordinarily low and raises the question of sustainability of growth. There are questions why growth has not created more employment and more income, and therefore, more rapid poverty reduction," he said in his opening speech.
The World Bank executive urges the PDF "to translate financial improvements into real investments, jobs, incomes and poverty reduction."
Posted on Mar 8, 2007, 8:49 PM from IP address 22.214.171.124