Challenges (Sabong News)
Author
John Tria
Date
MAY 09 2022
As you read this, I have no doubt that you have voted and/or made up your minds on who to vote for. You have read the personal backgrounds and platforms of your candidates and made up your minds on who to vote for.
Thus, it is vital to note that as new or reelected government officials take office, new problems and challenges need to be faced , such as rising global inflation, which has hit some advanced countries like the eurozone and the US hitting seven to eight percent. Our inflation is at four to five percent.
The prolonged Ukraine conflict and the decision of some countries to stop importing Russian oil will undoubtedly push pump prices up even higher, since raising transport costs which are instrumental in pushing commodity and food prices even further. There is also the decision of Indonesia to halt exports of palm oil. These situations can push inflation up and may diminish the growth and recovery we are experiencing.
Our next set of leaders will have to make sure that inflation remains in check so that our economy will continue to grow and recover. If inflation is allowed to spiral out of control, purchasing power of Pinoy consumers will dip, and companies faced with lower demand, will scale down operations, prompting reduced employment, wiping out the lower unemployment figures recently reported by the Philippine Statistics Authority. Climate change will weaken agriculture through la nina or increased typhoons.
Apart from thee challenges, the next set of leaders will need to Implement the hard won, long sought after reforms which to my mind are the fruits of political will such as the amended foreign investment act, the public service act, and pursue policies that have improved infrastructure and connectivity especially in the Visayas and Mindanao. The latest set of Sulong Pilipinas recommendations can guide us.
What other current policies will help?
For one, green energy options such as those pushed by the Department of Energy will need to be pursued, which will reduce our dependence on foreign coal and oil to generate electricity. Modern public transport must also continue, to allow the majority, who are commuters, a better ride and encourage less dependence on private cars, and in turn, reduce our oil dependence for transport.
More technology such as harvesters provided by the Rice Competititveness Enhancement Fund and cold storage facilities to make our agriculture sector more resilient to provide our food needs and be competitive in the short and long term.
What will be needed, as I wrote about previously, continuous engagement with government will be necessary to ensure implementation. This is why the “sulongs”, and other consultative activities must continue (https://mb.com.ph/2022/04/04/let-the-sulongs-continue/). This will harness support for implementation of these key reforms.
This is apart from activities such as investment promotion at the level of the Regional Development Councils. Hence, a good suggestion is to do similar consultative conferences at the local level to hammer out a socio economic and recovery agenda that can make the local economy more resilient and competitive to attract investments.
This is a venue where positive engagement, people’s participation and cooperation can take place. That said, I will reiterate that cooperation between local business groups and government is essential to creating a business climate that can encourage more investment, add value to local products and generate local jobs.
A belated Mothers Day to all. Let us continue to stay safe and follow minimum health protocols.
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