3rd Reaction Paper

Palace: Government focus spending on 5 key areas

MANILA, Philippines (Xinhua) -- The Philippine government will focus its spending on President Aquino's five key result areas of the Social Contract with the Filipino People in the next five years, a senior government official said today.

Budget and Management Secretary Florencio Abad lauded Executive Order (E.O.) No. 43 for providing focus in the use of government resources, ensuring the optical impact of programs, projects and activities of government.

"With our limited resources, each peso we spend should count in achieving good governance, empowering the poor, promoting inclusive growth, securing peace and the rule of law, and protecting our environment," said Abad.

"From this year until 2016, funding for all programs, projects and activities that are oriented to and aligned with these five Social Contract priorities will be scaled up. Meanwhile, those which are unaligned will be scaled-down, if not eliminated altogether," he said.

Mr. Aquino has issued E.O. No. 43, which directs all departments and agencies to orient their programs, projects and activities in pursuit of the key result areas of the Aquino Social Contract, which includes transparent, accountable and participatory governance; poverty reduction and empowerment of the poor and vulnerable; rapid, inclusive and sustained economic grow; just and lasting peace and the rule of law; and integrity of the environment and climate change adaptation and mitigation.

The president has also instructed the five Cabinet clusters, which have been organized along these five priorities, to define concrete and measurable targets for every year until 2016, in line with the Philippine Development Plan.

"President Aquino has also instructed each cluster to engage the private sector and civil society organizations in evaluating the results of their activities and in coming up with measures to improve program or project implementation," Abad said.

The 2012 national budget will be the first budget to be fully prepared, enacted and implemented under the Aquino Administration. It will also be the first national budget to be prepared after undergoing consultations with civil society organizations and other stakeholders.

http://www.philstar.com/Article.aspx?articleId=687463&publicationSubCategoryId=200

Reaction:

As i had read this article about the 5 key areas-plan that must be focus by the government in the following years, i was impressed that our president, which is Benigno Aquino III had this kind of plan to be acted for the next years to come while he is still in the position as the head of our country.

"poverty reduction and empowerment of the poor and vulnerable; rapid, inclusive and sustained economic grow", with this words that came from the mouth of my and our president, I hope that this will happen, because as I listened to the present news about the economy and progress of our country, the ordinary people can't feel this events that happening around us, in the news there are still thousands and millions of Filipino people were unemployed and underemployed in which discourage me a lot. It is because maybe after I graduate from my course that I've finished, maybe i can't find a good job which soothes me. Wages of employees and labors were still one of the problems that common people argue with, low or minimal wages that they get, if this problem will continue until I graduate, maybe were just wrong to give our hope and faith to the person who threw such beautiful lies for the good of our country. They must give jobs and wages that makes labors and employees makes them good enough and not to complain with the salaries that they receive, in which with this salary, they can give help to their families, establish an independent life for new graduates, own a small house and even afford a cheap but nice vehicle, and of course buy their necessities that they want and they need.

6 years are just enough to make our country walks with us to its progress. He must fulfill his so what he says "PROMISE of Change and Progress", because people were waiting for this words to be enacted. People will follow and do their thing if their leaders do the right thing, Filipinos were just waiting for their leaders to move, so that cooperation is successful. People especially the lower ones depends to the movement of our economy and especially to our government, jobs are always depend to the movement of the economy and the higher it rises, the higher jobs populate, and if jobs populate, no status of unemployed and underemployed in our country.

Hoping that this new program that the P-Noys Administration are planning to will succeed, I am one of those who are hoping and praying for the progress of our country.

Synthesis 111

http://www.youtube.com/watch?v=m0TUZbI5vew

The first scenario portrays a shortage in the market, there is an excess in demand. It is usable in the part which shows a limited supply and many buyers. As a result, the price goes higher until they reach the equilibrium price where the quantity demanded equals the quantity supplied.

The second scenario shows a perfectly competitive market, in which many sellers sell homogenous products specifically chicken. Sellers sell their products at a different price. The market is perfectly competitive because there are many sellers and buyers and the change in price has a negligible effect on the market.

BSP set to refresh inflation forecast

Article source: http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=681555

Reaction:

Philippine Economy is the 13th largest economy in Asia and the 32nd Largest Economy in the world by purchasing power parity according to the International Monetary Fund in 2010. It was the 4th largest economy in South East Asia. our country depends on the different resources that our motherland has, especially the Labor of the Masses.

I agree what Banco Sentral ng Pilipinas are planning to refresh its forecasting about the Inflation statements to the economy of our country. the Bank must review its plans and decisions for our economy forecasts this year. They must not only think for the single view programs, the government and the central bank must look into the different levels of economy from the business owners/investors to the simple employee/labor people, they must try to make our economy feel its prospering effects to us so that we might have the inspiration to continue building our country-economy to its peak. But right now we experience different price increases in our economy, and the government must take this problem seriously already because more and more Filipino people are having difficulties on how to budget their salaries in which it isn't good enough to support its families by this kind of wages for a month. Inflations are one of the economies moving/rising line in the graph, this rising line must be guarded by our economic officers. All I can say right now is that this is a right decision that the Banco Sentral open in public that they will refresh its inflation forecasts. Because we might experience a good result or possibly another big problem, not only in our Economy-Government, but in ourselves, we Filipinos also. The government must control this events so that we can prepare ourselves in the future.

Economics 111

Goverment debt climbs to P4.741T

Article Source: http://www.philstar.com/Article.aspx?articleId=675994&publicationSubCategoryId=66
by IRIS C. GONZALES
dated: Thursday, April 14, 2011

Reaction:
The Article is about the continuing increase of the Philippine Goverment debt and it reaches around P4.741 Trillion.Debt of the Government is just one of the the many and different problems that the Philippine Republic faced today. This debt was first started by our late Presidents, like Carlos Garcia and Diosdado Macapagal, Ferdinand Marcos the one who make the Philippine debt more humongous, Cory Aquino in which to use it as the recovery budget for the new Philippine Republic, and continued by their successors unto the present which is now Benigno Aquino III. These different debts were borrowed from the different Banks and Countries like International Monetary Fund, World Bank, America, United Kingdom and others.

I am not surprised by these kind of news that shown in day-to-day broadcasts. Our Island is just one of the developing countries that holds debt in their own government. There are many country like the developing ones and also the so called Tiger Countries. As one develops and prosper at the same time, they spend more than the estimated budget so that they can implement their projects and run their government.If I may, as to compare my country debts to others, the government has this small fraction of debt than other countries in the world. There are reasons for this problem, its either Lack of Budget or too much spending. And let us not forget the CORRUPTION, because the budget is the first target of the corrupting officials. So much for a problem that being centralized by media.

For me, their solution for now is to plan the perfect estimation and to centralize the manage of the Philippine Budget, to secure the flow of the money in which entrusted to the government by the owners which is the Taxpayers(common people). Use it for the projects and other implementations of the government. The government must see or watch how the budget is use, from the Executive, Legislative, Judiciary, Departments, Commissions, Bureau, Provincial and Local Government, and other branch of the Republic. The Department or Commission that hold this task must be Loyal and responsible to the people, whatever happens. So that Corruption is minimized and be vanished. These kind of strategies that was used long time ago but didn't gave a simple attention by the officials. With these Strategies or Plans, the Government slows or minimized the increasing debt of the Philippine Republic in every year, and possibly pays the debt.