2007 is indeed a notable year for the Philippines in terms of economic growth. Can this performance be sustained in 2008? PIDS President Dr. Josef Yap provides another forecast in this issue. His discussion on what's in store for the Philippine economy in 2008, however, focuses more on key economic issues instead of the usual detailed discussion of performance and prospects. One such issue is the appreciation of the peso vis-a-vis the US dollar and its impact on remittances from overseas Filipino workers. Another is the phenomenon of rising profit shares and falling wage shares--despite increases in profits, more Filipinos are still unable to find work. This also relates to the poor record of investments which is affected by governance issues, corruption, and crime and security concerns. This issue also features a study conducted by the Asia Pacific Policy Center which stresses the need to further disaggregate the provincial-level data with respect to the promotion of human development (HD). The paper argues that since HD-related programs are being formulated and implemented at the municipality/city level, this is the level where it should be monitored.
What's in Store for the Philippine Economy in 2008?
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