Commentary: Economic prospects under the new president

A few days from now come the reality that the Philippines will have a new leader to take over the reins of power for the next six years. The 17th president of the Republic of the Philippines stands to inherit a country severely factionalized politically and economically misappropriated, where each presidential contender claiming to be the rightful leader. The would-be elected president and vice president in this political exercise will have their hands full trying to address an economic "progress" not felt at the grassroots level, a growth rate that was exclusive to the oligarchs but remains elusive to the lowly populace. Objectivity dictates that the life of the people in the lower strata has remained pitiable before and after the six-year term of the Aquino administration. The claims of an improved life remain exclusive to those with capital, affirming the age-old adage, "wealth begets wealth."

The Conditional Cash Transfer program that has become a political leverage by whoever is in power has taught its beneficiaries to rely on mere government dole-outs instead of being self-sufficient as shown by the increasing number of poor people who rely on this "almsgiving" program of the government. It has defeated its objective of providing people with ways and means of sustaining their own lives. The incoming administration in its thrust of alleviating the plight of the poor should devise a system by which they would slowly detach the poor from being a "charity dependent" individual merely relying on dole-out to an independent productive individual contributing to the citizenry and the economic institution.

Homestretch

"Into the homestretch," as what the announcer would blurt out when he calls the race horses in the final bend going to the finish line. It is now "hang time" for everyone who is rooting for their respective candidates in the upcoming poll. As what we are known here in the Philippines, what transpires and will transpire in the next few days will be a cause for debates, arguments or otherwise; proving to all and sundry that debates on politics and or political issues is our national past time.

Based on the past three surveys conducted by two reputable firms, Mayor Rodrigo Duterte remains the top choice to become the next president. Despite major issues thrown against him including the kitchen sink, his position in the survey remains firm at the top place and has even increased. Trolls left and right and even dossier showing the "dark side" of the mayor has all been publicized but this seems not to have affected the position of his supporters. Political personalities were amazed at the phenomenal rise in the popularity of Duterte, catching them flatfooted and now everybody are up in arms to stall the bid of the mayor.

Foreseeable business future

With the economy expected to increase by at least 6 to 7 percent at the end of the fiscal year, whoever becomes president is pressured to achieve and sustain an economy that has been widely acclaimed because of its positive perception of growth. The numerous high credit ratings that have become the "bragging rights" of this administration are expected to be supported and maintained by the incoming leader. It is beside the point whether he comes from the administration or otherwise since it is logical to maintain a certain level of continuity that would maintain or improve the current economic and financial position of the country. Regardless of political priorities, picking up from where this administration will leave should be the start of something good in terms of political and economic priorities.

Regardless of political priorities, picking up from where this administration will leave should be the start of something good in terms of political and economic priorities.

What should be foremost in the agenda of the incoming president is the creation of jobs to address the widespread joblessness and job mismatch. Despite reports of employment increase with unemployment has going down from 6.5 percent to 5.8 percent, the figure fails to include the approximately 3,000 people in Leyte who remained unemployed since day one of the Supertyphoon Yolanda (Haiyan) tragedy. Practically, the predominance of poverty still feeds in our economy.

What is worth observing is the fact that inflation rate remains stable at approximately 1 to 1.5 percent which may be both positive and negative to our economy.

Economic policy may not vary whoever will be the chief executive because priorities remain the same as far as domestic need is concerned. It is not easy to realize that despite variations in the candidates' platform of government, this is boils down to addressing people's needs.

Priorities remain the same as far as domestic need is concerned.

Graft and corruption remained a pain in the neck of any administration, and will continue in the next. A more complex approach to government bureaucracy coupled with hands-on policy of the leader remains the most effective approach to a graft-free leadership. Statistics show that about 30 percent of government funds are wasted through corrupt practices.