EDITORIAL - Unequal distribution

Now it can be told. Long been branded as the Sick Man of Asia, the Philippines can now be considered as a certified emerging tiger economy given its strong performance in the global stage.   

Based on the National Economic Development Authority records, the country’s economy continues to remain robust despite the prevailing global financial slump. In 2012, it had grown to 6.6 percent from the four percent in the previous year, affirming its status as one of the best in Asia.

No one can really dispute that the economy has been growing at an unprecedented rate for the past years. Even those pessimistic about the Philippine economic health had turned into avid believers, expressing surprise at how the country managed to avoid the worldwide recession.

Yes we cannot deny the fact that the Aquino administration’s aggressive approach toward economic reforms contributed largely to a healthy economic environment. Now the global community hailed the Philippines’ achievement as one-of-a-kind success story in the wake of the global crisis.

But despite this economic achievement, there are still serious problems to surmount, such as modernizing the antiquated infrastructure system across the country. For one, the Philippines still has a lot to do in attracting more investments because of some constitutional provisions unfavorable to foreign investors.

Besides, there’s really a great need for the growth to trickle down the masses. Only a small percentage of the total population enjoyed the fruits of the economic growth while the majority continues to mire in poverty. In fact, according to data, millions still live on less than two dollars a day.

As many see it, there’s seriously an unequal distribution of wealth here. The economic growth has never found its way into the countryside, the reason why it is really hard to contain the mass exodus to the urban areas.

Unless they begin to benefit, any figure heralding the country’s economic achievement would always fail to excite the masses.