The Impact of
economy status and
high inflation rates in
the Philippines to
Filipino people.
INTRODUCTION
In its World Economic Situation and Prospects 2019 report, the
UN said it sees the Philippines' gross domestic product (GDP)
growth to have had slowed to 6.3% in 2018 from 6.7 % in 2017. ...
In 2019 and 2020, the UN projected the Philippines' GDP growth
at 6.5% and 6.4% respectively.
It targets 6.5-6.9% growth for 2018, even as actual GDP
expansion averaged 6.3% during the first three quarters.
“In the Philippines, GDP growth in 2018 was affected by a
slowdown in household spending due to a rapid increase in
inflation,” the UN said.
Last year, inflation or the rate of increase in prices of basic
commodities hit a 10-year high of 5.2% due to new or higher
excise taxes slapped on consumption, skyrocketing global oil
prices during the third quarter, as well as domestic food supply
bottlenecks that pushed prices higher, especially of rice.
Many people don’t understand why most Filipino people chose to
work abroad rather than stay here in their homeland. I want to
conduct this research and explain the number 1 reason why
Filipino chose to work outside the Philippines, and number one is
due to bad economy standing and high inflation rates.
Data Collection
September survey results also showed that "Filipinos continue to be most concerned
about economic matters."
Asked which among 15 urgent national concerns they want the Duterte
administration to immediately address, 63% or a sizeable majority of Filipinos cited
inflation – 12 percentage points higher than in June.
This is followed by increasing workers' pay (50%), poverty reduction (32%), job
creation (30%), fighting graft and corruption in government (26%), fighting crime
(23%), promoting peace (14%), protecting the environment (13%), reducing tax
payments (12%), and enforcing the rule of law (11%).
Filipinos deemed as least urgent government action on the welfare of OFWs (6%),
rapid population growth (6%), terrorism (5%), national territorial integrity (5%), and
charter change (3%).
At the time the survey was held, and between the June and September polls, among
the dominant news were inflation or the increase in the prices of goods hitting a 9-
year high in August, the rice shortage, calls to sack then-National Food Authority
administrator Jason Aquino, and the weakening of the Philippine peso.
Non-economic news included Duterte's Proclamation No. 572 voiding the amnesty
granted to opposition Senator Antonio Trillanes IV, and the bombings in Isulan,
Sultan Kudarat, that led some to raise the possible extension of martial law in
Mindanao beyond December 31, 2018.
Between the June and September surveys, Duterte said Vice President Leni
Robredo would be "unfit" to lead the country should he have to cut short his term,
and that his preferred successor is former senator Ferdinand "Bongbong" Marcos Jr,
who has a pending electoral protest against Robredo.
Pulse Asia said the nationwide survey has a ± 2% error margin at the 95%
confidence level, while subnational estimates for the geographic areas covered in
the survey have the following error margins at 95% confidence level: ± 6% for Metro
Manila, ± 3% for the rest of Luzon, and ± 5% for both the Visayas and Mindanao.
"In keeping with our academic nature, no religious, political, economic, or partisan
group influenced any of these processes. Pulse Asia Research undertakes Ulat ng
Bayan surveys on its own without any party singularly commissioning the research
effort," said Pulse Asia.
