A piece of good news this week: The government has greenlighted a multibillion proposal for the much-needed and long-delayed rehabilitation of the Ninoy Aquino International Airport (Naia) through a public-private partnership. Is that a collective sigh of relief we hear from Filipinos who had to bear the ignominy of coming from a country whose international airport has been dubbed as the world’s worst? This development is expected to be included in President Marcos’ State of the
In monitoring economic well-being realistically, it’s obvious that adjustment for inflation is needed. What matters is real value, not nominal or money value. The target growth rates of gross domestic product are always set in real terms, of say 4 percent per year; if 6 percent inflation is expected, then the target growth becomes 10 percent in money terms. The administration says it wants the percentage of poor persons to be in single digits by 2028. It says it wants the Philippines to become a “middle-income” country. I think both objectives entail increases in the real value of the actual earnings
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