Shouldn’t we count for blessings?

Maybe it just election noise, but in the last six months, there have been opinions in media that even with the vaunted economic growth of the Philippine economy, the growth have been non-inclusive, as the poverty level is still in the 20 percent, unemployment and underemployment is still high, and a large portion of the population are not enjoying the economic growth. That there is still a lot of dissatisfaction and people want radical change. That the drug problem is worse and the crime rate is up, and the self-rated poverty surveys are also up. These opinions and information serves the interests of some people and certainly some politicians, so it cannot be prevented.         But let us look at all angles of the Philippine situation and condition and see if these opinions have basis.

In terms of solid statistical metrics, the average GDP growth in the last five years of over 6 percent plus, are irrefutable. That we had an average inflation rate of less than 4 percent and a fiscal deficit of less than 3 percent of GDP over the same period are also unassailable. Unemployment and underemployment have gone down only minimally due to the annual new entrants to the labor force, but it has been trending down.  Add to these, the double digit growth at 18 percent and 34 percent annually in the sales of cars and motorcycles, then the 20 percent growth in airline traffic, the non-stop opening of malls and hypermarkets in Manila and in the provinces, then we see a mismatch between what we see as reality and what the doomsayers are saying about the Philippine economy and the peoples welfare.

In terms anecdotal metrics, the booming construction in the private and public sectors have created a shortage of construction companies and construction workers that has led to complains that a lot of condos and office buildings have to undergo a lot of rework and repairs before turnover due to poor quality of workmanship.

In the restaurants and other food service industry, there is a shortage of kitchen workers and waiters even if they are training them as fast as available. The middle class also are already complaining about the shortage and salaries of domestic helpers, as salaries of qualified househelps in major cities are already in the P5,000 to P10,000 per month, with SSS and Philhealth coverage.

Then of course, we have been invaded by all the major clothing brands in the world and they are in our malls. Zara, H&M, Uniqlo and many of the luxury brands in the world are now available in the Philippines. These companies would not be here if they did not see the economic growth and the tremendous purchasing power in the Philippines.

The business sectors have been and still are very bullish about the economy, that they are expanding capacity in anticipation of higher sales. In fact the Business Expectation Survey of the Bangko Sentral had been positive in the last twenty quarters. 

So what is the reality and the correct perception of the Philippine economy and the well being of the Filipinos? The reality is that majority of the Filipinos are really better off today than they were five years ago. The middle class and the upper class, which is 70 percent of the population have had increasing incomes over the last five years, and have improved their living standards. The lower classes, have also improved their living standard but not as much as the middle class, so when they compare themselves to the much improved lives of their neighbors, they feel poorer and dissatisfied as they also aspire for the same betterment of their lives. This is why the self-rated poverty surveys are still in the 20 percent. The poor feel that the slower improvement of their lot have left them behind and excluded them in the growth, ergo a misperception of a non-inclusive growth.

China's GDP had been growing at over 10 percent for the last 15 years, and there are still poor provinces that are left behind in their economic growth. And they even have a robust growth in their manufacturing sector. The Philippines which is highly dependent on the service industries will need another 10 years to include the 20 percent below the poverty level into the growth enjoyed by the middle class.

In the crime statistics, the incidences have increased in absolute numbers but the percentages have been coming down. The numbers are up due to the higher population and better reporting due to technological advances, but there are real improvements especially with the implementation of a better performance based management in the Philippine National Police.

One of the lines in "Desiderata" is that we should not compare ourselves to others, for there are always people better and worse than we are. But this is a natural human tendency, and a comparison to a benchmark is always needed to determine where we are or want to be. It is unavoidable if we want to count our blessings and want to feel good. So if we want to compare the Philippine economy to the rest of the world, our 6 percent plus growth rate in the last five years will put us in the top five countries in terms of economic growth rates. Greece, Portugal, Brazil and Venezuela are still on a recession; Eastern Europe, Japan, and Turkey are in a near recession; Pakistan, Syria, Iraq, and a number of African countries are at war and in deep economic trouble and their people refugees in Europe, the US and Canada. 

There are terrorist activities all over the world, including the Philippines. And there is air pollution in China, Singapore, Indonesia and Malaysia. Looking at all these and situating the Philippine conditions now, while we do have our share of problems and difficulties, we are improving and we are really much better off than many other countries.

It seems, we do have reasons to count and thank God for our blessings. So, "when you worry and you can't sleep, just count your blessings instead of sheep."

Let me be one of the first to greet you, a Merry Christmas and a New Year you wish for you and your family!