Our country is highly dependent on OFW remittances to make our peso maintain stability. Take note of stablity, it does not make our peso stronger but the remittances we receive will make it stable. Meaning, if those remittances will be stopped our peso will continue to slide and slide.
Thanks to our governments balloning budget deficit and our foreign and local debt amounts to 3.2trillion pesos. Since the govt has higher expenses than its income we pay our maturing interest obligations abroad by acquiring another debt to pay the old debt. Therefore, patong patong ang utang and I dont see any signs of improvement if this cycle keeps going. Plus our imports are higher than our exports.
According to COA for every peso of revenue the government earns 50% of it goes to corruption. SO the question "anong magawa ng govt natin para umunlad"? Marami pong magagawa if they are concerned with our coutnry. But it is evident that they have no integrity to speak of and therefore hope has gone down to the toilet drain.
But dont blame it entirely to the govt pinoys are also guilty. Anak ng anak ala naman mapakain. Laging nagsusugal kahit walang pera. and the list goeson






