Negative Effects Of The Philippine Economy

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GDP or Gross Domestic Product is the best way to measure the country’s economy. GDP tells the total value of everything produced by all the people and companies in a certain country in a specific time period. GDP states the measurement that includes all private and public consumption, government outlays, investments, private inventories, paid-in construction costs and the foreign balance of trade (exports are added, imports are subtracted). It absolutely tells how fast a country’s economy is growing or how the economy of a certain country changes over time. According to as of 2017, the Philippines have been the fastest growing economy in the Asia. During the last quarter of the year the Philippine economy grew by 6.6%. However,…show more content…
The current status of the Philippines economy when it comes to making a high and well-developed infrastructure and making great opportunities, careers and jobs for the Filipino citizens are still slow. If the growth slows down, then it will possibly have a negative effect or impact to the country which will usually leads to unemployment and sluggish innovation. l And in prier to that, many people tend to work abroad to seek for a better opportunity and the salary is much higher compared to the Philippines. They need to go abroad to support their family because the salary they are getting is insufficient to there needs. Hence, as the effect of that there will be a lack of employers that we need our country. Employers that we need to build various infrastructures, to be able to keep pace on other countries. In conclusion, the economic growth of a certain country really affects the living lifestyle of its people. If we have low economy then the difficulties will also be in the country’s…show more content…
It was the highest inflation rate since April, driven by faster rises in cost of food, transport and housing & utilities. Published on 2017-10-05 So, to sum everything up, the most important categories in the Consumer Price Index are: food and non-alcoholic beverages (39 percent of total weight); housing, water, electricity, gas and other fuels (22 percent) and transport (8 percent). The index also includes health (3 percent), education (3 percent), clothing and footwear (3 percent), communication (2 percent) and recreation and culture (2 percent). Alcoholic beverages, tobacco, furnishing, household equipment, restaurants and other goods and services account for the remaining 15 percent. This page provides the latest reported value for - Philippines Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Philippines Inflation Rate - actual data, historical chart and calendar of releases - was last updated on February of

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