Which is why we the philippine need to see the good side of our country. Politics will always be here and everywhere , around the world. Keep praying and trust in God. We will stand taller than everybody someday just like before
Great job explaining how the financial status of the country is going. As long as there's no corruption and there's transparency on how the funds are utilized the country will have a good future.
Hello Behind Asia! I am a 16 year old boy who really love your videos and I mean REAALLY LOVE you-re videos because of how easy it is to understand economy of countries because I find it really difficult for me to understand such by reading books as I find it very very complex without easy-to-understand visual guides to understand everything that they are all saying at the book that this channel all have. More power to your channel and really hope that this channel get more bigger and achieve more people in the future! Thank you very much again, I dearly, dearly love the content that you make and will still continue to watch it!
@@aise3722 Tha ks for the concern but as I stated, I also read books fact-check what I learn here I just stated that I find his more easy to understand because of how well made this is and how they can open up interest of many people to politics because of said easiness. Thanks for the concern tho stranger from the internet, I really appreciate it as this conversation can also open someone's mind just to not rely all of the information they want to know solely on just the internet :)
I’m just so happy that at 16, you are interested in economics… unlike other young men like your age who are engrossed in video games. Keep it up! I think you’ll be one of our great economists in the future !
Eye opener info hope those government detractors will watch and analyze the scenario that Philippines is heading toward strong economic power as new industrialize country. Prayers and God bless Philippines.
not sure about industrialized, but it's more closely seen as moving towards a strong information and service based economy... think of call centre, tech, web development, tourism, mdeical, etc... It's basically skipping "industrialization" as an economic driver. This is a good thing. most western countries are moving towards this direction leaving behind old industries and making other countries do the industrial work for them... that's why the "factory of the world" was china and now moving towards india.
@@zeighy i think he is right. industrialization in my personal understanding does not only limit on manufacturing equipment, machineries, or of any sort of high end gadgets on factories.. but its something like being able to transform a once old slow paced economies into a modern and vibrant one in concert with those richer economies on some part of the world .
1969 New People's Army also known as Communist Party of the Philippines was born. Progress in the Philippines stopped dead on its track. We waited 30 long years. If it wasn't for Former President Rodrigo Duterte jump starting it, we could still be waiting a lot longer.
Back on track in inflation. More robberies happening. You must be a crony for saying that Duterte and Marcos put the Philippines back on track. You must be living in a private subdivision and paid by the government to say all this. Most poor communities are now denouncing Marcos and Duterte. Time will tell and people and will be back protesting for higher income wages and lower product prices. Just like in the '70s when Marcos tried to shush the people who were complaining about low wage. That was the real start of Martial Law because he couldn't contain the people's outcry for higher income and wage. “Those that fail to learn from history are doomed to repeat it.” And here we are with government asking for confidential funds back in track for corruption.
Debt is not bad, every country and every person use debt to gain properties they cannot pay cash but can pay in installments with interests attached! Loan to buy a house, a car, go to college/ university, start a business and expand a business, build and repair infrastructure! Without debt life will be more difficult. As you have said Debt is used to leverage growth!!!!!
Japan is a great help to us notwithstanding the past war atrocities to each other. They treat Philippines as if their province that must develop economically. In return, we are also supporting Japanese products and restaurants in the country.
It's funny how my own countrymen treat our homeland like some province of another rich country, doesn't matter whether it be China, USA, Japan, and etch.
I wonder who was PRRD's economic adviser because they really did a good job. It doesn't matter what political colors do we associate ourselves, we only have one country. My prayers to or President and government leaders, may you never forget the people who put you in our respective offices. Our lives and our future are in your hands. Mabuhay ang Pilipinas 🇵🇭
Si PGMA pla.. ih sya din ung president na dumanas na ung Mundo ng crisis samantalang ung pinas di Ganon ka apektado... Magaling sa economics. And nagbenefit si pnoy sa mga projects Nia.
This is eye-opening as it is astonishing, this is really not being the talk of the mainstream media in the Philippines. Would you please cite your sources about these figures taken from? It is not to my disinterest but it would help me follow your sources so that I could better grasp the figures myself, too. Thank you.
Debt is really not a problem, if we can see where the money is being spent on, and if the revenue from that debt is visible. While debt can save the country along the way, corrupt politicians can do otherwise.
If the philippines actually manages their debts correctly, with the proper investment (agriculture being the undermined one the most), you would see the philippines as the agricultural hub thatll support itself and other countries. Its safe to say, that the govt here doesnt do any step to further strengthen its already gifted potential.
They are. Actually, 40% of the workforce population in the phil was in the agriculture sector 30-40 years ago at the time of their president marcos. Now, the agriculture sector only has 10% of the population workforce and the rest has shifted to the latest trend which is telecommunications and other services workforce and now, the late president's son has now taken his place 30 years later and reviving their nation's agricuture industry to its former heights.
@@justinmacasinag6258 Lack of Largest Land for Farming, we want thousand and Hundred thousand Hectares or more than a Million hectares of Land for Farming ,it's better to handle a Larges company, than to small owner like a half ng hectares for Farming, We Believe in our days that we are forever Import Rice in our neighborhood countries.
@@justinmacasinag6258 i appreciate the effort being put into place on the agriculture industry, its just that its mismanaged and lacking of insight. there is always a stigma towards farming in general, since the times after the americans, they were labeled as either poor or communist members. alongside a general shift of the generation's ideals and mindset, there is a lack of motivation for agriculture in general. lack of proper funding and stigma, even when theres a drive, it doesnt really do that much of a difference if theres no pay/benefits for the people. if we take your word that it used to be around the 30%-40% of the Marcos presidency, then why were there protests from all sectors including agriculture? theres simply no real benefit for the farmers because they lack the basic needs for sustainable livelihood and life in general. we'll be importing more and more common goods in the country if we do not manage how to regrow the sector of agriculture, as well as making a better infrastructure that will support farming, as well as giving more benefits for farmers. unsustainable farming and unsustainable livelihood = no real agricultural growth.
Pres GMA despite her unpopularity implemented another round of VAT increasingly inflation, but made the country in a stronger position. The 1997 Asian Crisis made private financial managers move on the conservative side. Same with Indonesia and Thailand. When the 2008 and 2018 financial limbo erupted round the world, SEA fared better than than the rest.
All thanks to the then President Gloria Macapagal-Arroyo. Her economic reform was frowned upon by her people but then they reaped the benefits. There are youtube videos where she discussed this during her time.
according to the video 2003 phillipiness debts 70% against GDP due to corruption and mismanaged... 2003 Gloria arroyo administration.... Gloria economic reforms was a propaganda to justify massive corruption of Gloria admin.. what economic reforms. nasaan ang economic reforms na sinasabi nila.. wala... nasaan ang MGA inutang ni Gloria... sa 9yrs ni Gloria Meron ba siyang matatawag na legacy or naipagawa nya dapat Meron KC napakalaki ang nautang ni Gloria...
@@leonortenorio6604 Flagship infra projects was canceled by Noynoy if you can still remember. I mean all across the board. Her legacy was the Nautical Highway and tax reform. ano ka ba. she modernized shipping routes local and international. also, the BPO industry.
@@leonortenorio6604 eh sino naman kaya ang previous president natin niyan noh? nakalimutan mo ata. you can't u-turn your economy in just one year. nag-aral kaba? or sadyang ganyan lang logic mo just because.
The reason why most projects are expensive and at times subpar, is and will always be corruption and thievery inside the government. IF this video is telling the truth (which I'm on the fence with), then we should be in a much much better position than where we are now. But you can tell for yourself that the lives of Filipinos are improving in a very snail pace at most. Poverty is even on the rise!
Thanks for this info. All these fruitful results are the efforts & honesty of Ex PRRDuterte & now being continued by PBBM . God Bless the Philippines forever.
@@rjgonzalez9220 thank goodness you commented. I had to, myself. People didn’t bother to know the difference between external debt and national (public/sovereign) debt. Age of misinformation indeed.
The PHilippines were approved by World Bank to borrow or loan because our country have the capacity to pay and our country have funds in different countries and backup by golds. Recently the former CB President said that PH sells gold and we dont buy it.
9:00 That tremendous decline (2002) happened during GMA's presidency (2001-2010). She really is a genius economist! But I'm not surprised since she went to Harvard. Nakakalungkot lang na pinapangit yung image nya.
The video hide the 2021 to 2022 data for the debt-to-gdp, because the data suggest at that period accounts for 60% and that level is at the end of the term of Pres. Duterte, which means the first four years has quite low at 30% and in the last 2 years, it ballooned to 60%.
@@lorettaloo7657 blame it to the NPA who sabotage the economic growth of the country, and until now they are still the headached of everyone , and I bet you are one those who are still blinded the yellow's agenda.
The amount of debt itself has actually increased since the Marcos years, not decreased. It's the Debt/GDP ratio that has decreased, mostly due to OFW remittances and BPO's.
As long as the President and Vice President with the help of upper and lower house eradicate corruption, maintain peace and order and elimination of drug personalities in society and in the government departments. Its going to be good for the development of the Philippines.
I have been traveling and living in the Philippines for several years now and the PH debt has been a concern so I really appreciate this discussion. It will be interesting to see what the last 2 1/2 years+ of lockdowns, travel restrictions, and economic disaster will do to these numbers as data becomes available. Tourism $$$ is a big part of the economy and has been nonexistent for most of 3 years and they will miss out on another "high season" as they are just now opening up to travel.
yup like most recently the lighting of the san juanico bridge. government projects are one of the keys to get some overpricing projects and kick backs.
Debt is an asset if leverage it right and must have purposeful results i.e. building infrastructures to promote and/or do economic expansions and eliminate government waste and/or rid of nepotism. Do 50/50 government and private equity partnership that would reap rewards first the government for more economic expansions while private equity will eventually get their money in a long-term contract with substantial interests ( % long term earnings or a stake on a project and/or incentives. ) If defaulted on the debt Government has to have a coffers through bonds that would payoff its debt - Reserve Fund. This would lure more foreign investors long term.
Remember the year..1970 when it was not transparent. Singapore is the hedge fund center in Asia.corrupt officials and drug lords put their money to the care of hedge fund managers In Singapore and is laundered back as investments in the pH and Australia.take not if that the year that its not transparent is during the 1970 onward..we know who was I charge during those period of intransparency...just saying.
@@maharlikabebz2249 not really a problem, USA has 137%, Japan has 266%, debt to gdp is not an accurate determinant of how the country is progressing. It's how the money is used. debt to gdp ratio is just how risky it is for international lenders to lend money to the country.
Debt in the Philippines is not a problem if used wisely. The main problem is corruption in many aspects of society. Temporary loss of patriotism is one of the main causes of this due to communist infiltration which should be thwarted as quickly as possible. Unity among citizens is a must. Bayanihan is the key.
We have learned from the past and our growth has brought new opportunities such as our own MNCs capability to borrow from international financial institutions. In the 70s this was not possible and we could only borrow from government through the BSP which borrowed from the IMF/WB/ADB.
Foreign debt is not bad if used where it is intended for. PH has failed in curbing fully graft and corruption. We could have been one of the Asian powers decades ago but still hoping that we could be one. The number one priority is prop up infra and agricultural projects in rural areas to prevent population migration to urban areas plus ease up logistical issues in the transfer of good and services throughout the country.
6:21 The naysayers among the Filipinos would try to debunk this figure. Most likely their opinions would be heavily laced with pessimism or political overtones. Their indifference would be much more pronounced if the incumbent president is not the candidate that they voted for during the election. This is something that Filipinos should address if they want their country to achieve economic prosperity.
Wait till all the infra constructions now is finish!!! The phil with good infra together with good location in the heart of the region!!! Great location for business!!!!!!!!
media in the philippines says filipinos are in very deep debt that our grandchildren's grandchildren's grandchild will be so poor and in debt that he could only afford a grain of salt a day.
I heard that from the mainstream media since 86 when I was 14 years old… but more that 3 decades past I think we are far better than other country. I hope the media will be partner by the govt especially in promoting the good side which will attract investors and tourism
Borrow more and use it to build or improve infrastructures thus providing employment and building assets in the form of infrastructures. Use the BANKS mo ey to build assets Or equities. ...these equities will be used to improve the lives of many with the benefits gained from infrastructures of roads bridges hospitals schools etc. Go go go Philippines ❤️❤️❤️
If your guess is correct, then the Philippine debt should have been terrible now. The Philippines should have collapsed ahead of Sri Lanka but that is not the case.
Surprised that Japan provided more aid compared to China. Even before Japan is one of the good allies of the Philippines, Philippine government should reciprocate and provide all the support it can give even thou Philippines has little to offer it should provide big tax breaks and allow Japanese culture in the workplace, discipline and perseverance. Allowing Japanese companies more freedom will increase workers productivity, resulting to better profits for foreign companies, resulting to more foreign investments.
Thank you Japan for helping the Philippines. You are. a true friend and the whole nation is forever grateful for your full commitment to the Philippines. It turns out you are our greatest friend and supporter given how you are supporting the country’s infrastructure push
Use the word NEGLIGIBLE to refer to amounts not NEGLIGENT. "NEGLIGIBLE" means a very minor amount or degree. "NEGLIGENT" means to be very careless or not exercising the appropriate level of care.
There is enough capital held by Philippine investors. While foreign debt if utilized well can still contribute to the development of the country, the volatility of foreign exchange vis-a-vis the US dollar presents a greater risk to the servicing of foreign debt. I think the country's PPP program is a better vehicle to accelerate the Philippines growth and compete with its peers in Southeast Asia.
The future of the Philippines looks very bright in my opinion, owing to the fact they have a young president with the energy and ability to take the country forward, plus it has oil and gas of it's own, oil is being extracted right now.
Debt is not a problem. I have a problem with debt being spent on useless poor people who keep the intergenerational cycle of poverty who Anak pa more with wlang Pera and their teenage children even as young as 11 having babies.. and then BLAMING the government for their problems.
@@reinpinebook825 The communists never put a gun to man or woman to produce children they can't afford. Social assistance is a privilege to those who can be managed... Disciplined... Guided. Here, (in the Philippines) there's millions that look up to their sky daddy "hoping and praying" for blessings..
if we treat the government as idols we shouldnt blame them as you said ,but if these government people are treated as paid workers we should blame them, now if they dont want to be blamed dont apply as a worker...the government should be treated the way our bosses treat us in our work, they are not heroes, idols or crush, they are simply paid workers..
@@jeffreybourbon7273 Your comment applies to all nations. What nation does NOT have dirt under their finger nails?? Some nations make billions and billions of dollars sweep under the rug but why is their bedrock as a country at the family level so strong? Brazil Mexico and Philippines are top 3 most religious catholic countries. Is it not funny how they are also ROUGHLY in the 3rd world category? Dig deeper... Church mixed with state?
@@brentvillanueva15 i understand that there are nations that are corrupt, but that doesnt make it right because some are like that, that to me is not valid, it just follows the corrupt religion equals corrupt government, thats why religion should only be allowed at home for personal practice, Philippines is following the footsteps of these other nations, billionaire politucians without business, actors who doesnt make money in movies makes tons in government, old useless politicians with millionaire mistresses, a nation that depends on working abroad, but government people dislikes the nations that its people are going to work in, like hating on EU, Canada an USA..
thanx to our filipino migrant workers...true heroes of the Philippines. we have a huge surplus of american dollars..so huge that we can even the value of the dollar...one dollar to one peso and our economists knows this...ask them,
Oh my god! your a genius guy thanks a lot, you clarify everything about the government debt, anyway The government of today are more smart compared to to yesterday right? thank you for your support to the filipino people mabuhay ang Pilipinas!!!!!.
You are right if these debts were used for economic growth but the sad news that almost half of these debts went to the pockets corrupt politicials and the other half to substandard projects that don't last for many years. And we are only talkinghere of external debts. Our domestic debts is also high ,maybe close to 1 trillion pesos!
sabe nga dun sa video nag grow na economy natin from 70% na debt to gdp noong 2003 naging 20 something nalang ngayon pero pinopolitika parin, the way ipahayag yung debt natin ngayon sa mga mainstream media parang mas lumala pa lalo kaya maraming nagagalit sa gobyerno where in fact ang laki-laki na ng improvements. kung kinokorakot lang ng politiko majority ng funds edi from 70% dapat nasa 150% na tayo at mas nauna pa tayo sa sri lanka na bankrupt pero hndi eh. tumaas lang kaunti debt to gdp natin nung pandemic parangmalulubog na sa utang ang pilipinas the way mag react mga pinoy which malayong malayo pa naman based sa videong ito.
I think this is a very generalized view. The effects of the external debt have been different from time to time. In this case, the external debt during the 1970s was far higher than its predecessors, it slowed a bit in the 90s but it was still growing. The Asian Financial Crisis then suddenly added a lot more debt as can be seen in the data post-90s. However, the ratio started to dip down as austerity measures were in place. The biggest reason why external debt dipped down was entirely because every successive government post-Marcos has been implementing an economic policy of austerity above all else. Its only now with the recent government that a policy of building took place as such debt is starting to mount up again especially with Covid-19
If some of bank FX loans was extended to Finance the purchase of Malampaya oil fields then the bank/s who extended the fx loan will have difficulty collecting the FX loan
problem occurs. most of the masterplan of marcos to the philippines have been change and get shutdown by aquino. if only the power plant and the sewage system have been followed manila is not having so much problem with the flooding.and the power plant should be earning money and some of our department/business will not go to private sectors like the water and electricity sector. where aquino sold them to their family relatives
Philippines have strong economy because of ofw , the income taxes is very stable but the problem are our politics they need to manage it properly , pres Duterte proof it already .
did you included the previous administration borrowed money, it creates so much suffering to the people! you look at positive side for the rich people but its makes so much suffering for the poor
Compare debt to asset for example in mining if the reserve mine has trillion dollar in number of years that will be its revenue for its GDP to ration of debt…so Philippines has more assets than debt…
Hi, I'm not an expert but 62% Debt-GDP Ratio is the total debt (domestic + foreign) over the GDP. Domestic debt includes the fund from BSP, state-owned bank (Land Bank, DBP, etc) and maybe private banks borrowed by Gov't or Private sector interchangeably. BA is only concerned in explaining about the foreign debt since Filipinos had a trauma of foreign debt since 70's. As said in the video, handling of foreign debt is the issue but we have transparency as where is it used nowadays. Hope I answered your question.
Also, in housing sector, the Filipino citizens in general (or majority are still) shy away from getting their own house and lot thru loans so it really is very low when it comes to that. Most domestic loans are coming into the business/small business sectors. This is worth noting because housing loans are very much the major driver of domestic loans in most countries which also suggests a healthy figure.
@Behind Asia, have you tried living in the Philippines? When Marcos Sr. plunged this country into debt, the standard of living of Filipinos went from palace to prison. Debt is the TYRANT master that Filipinos are struggling with. It's a filthy & squalid condition of life you wouldn't want yourself trapped into. Our overseas workers are working like slaves to pay up debt that was brough about by our evil oligarchs.
I should say it's meticulously well said about the external debts of the country, because of rampant corruptions foreign debts will stay in the country for long time, I've been out of the country 47 years the standard of living still the same regarding more peoples creates more poverty's corruptions is a killer for the countries futures like drug dealer easy money no hard work whoever it is the President in the country doesn't make any difference corruptions always be there actually I'm sick of it
Why separate external and internal debt??? Both have to be paid. In fact, ₱1.6T of the 5.5T national budget for 2023 goes to debt servicing. That's 1/3 of budget that should have gone to benefit the people. Regarding the infra that were built, since 2 decades ago, most of them were done under Public-Private Partnership. Private companies fund them, operate for a few years until they recover the cost, then turnover to government. No loan was taken to build them.
@@EC-gq4xx i bow to your undoubtedly superiority on all things o wise one. Now go back to scrounging pints from the good folks you've been boring to death all these years.
Most of the comments here are Heavily Politicized. I don't care who's the president of the Phil. as long as it boosts our economy then good because it's their job, as a Filipino we can agree or disagree on this but in every situation there's always two sides and all of the Presidents are not perfect even the present one. As long as the President doing his or her job then we need to support, Philippines is a huge country and I'm not some kind of person who is expert in economy or politics. The word Propaganda is always painful to hear or read. Because if a certain video or content is not in favor to your Political biases, you will say "Propaganda" or "Fake News". Saying Propaganda or Fake News a certain content or video will not make the Philippine economy grow and it will not benefit a poor Filipinos, it doesn't make any sense at all, insignificant and futile.
How are we supposed to know which presidential candidate will give us the best economic boost??? Look at their policy, sure, maybe listen to their speeches, see what they have to say, alright, but a big problem in philippine politics is everyone and their mother is a lying sht that just wants to horde as much money as they can to Switzerland before they're exiled so any kind of policy becomes untrustworthy after that. We can also look at their background/past to see if they're more likely to be genuine. Our current president is the son of a tyrannical dictator who ran our economy to the ground, so already hes very untrustworthy..
🙋Thanks to OFW and Pilipinos/Filipinos living abroad, that debt will be paid off sooner or later.🙏 Number one export of the country. More people go abroad, more remittance and more income. 🙌 🙏🕊️♥️
while the Chinese debt trap is true for other nations, it may have been handled differently by the Philippines. Even the Malaysian Prime Minister warned the President Duterte because Malaysia seems trapped by Chinese Debt. Lots of friends.
@@sunergi Yes, Philippines has the history of expertise of handling external debt since the country gain its independence earlier than any other countries like malaysia.....Sri lanka and malaysia might fall for the trap but not the Philippines though.. Yes our politicians are corrupted but they can't let the Country fall, that is why our country progression is slow but atleast its growing.. how much more if we chose the right Politicians to lead us to progression at faster rate.?
Really? You should get out of your gated houses or something. I myself had a chance to travel of what used to be a 10 hour travel reduced to 4 hour travel. That also includes site seeing.
@@iwantarandomname121 I guess you're not aware of the still large percentage of Filipino population that are impoverished. Or the lack of accounting as to where the money went? The Aquino administration was able to do a lot and yet was able to reduce the debt at the same time. (And NO, I'm not a fan of the Aquinos.) Many of the projects that were finished duing the Duterte administration were projects that were planned and started by previous administrations. You should be thanking them.
@@GTX311 planned but were not implemented. Implementation requires the bulk of the budget not the planning. Which means it was Duterte who worked to ensure funding of these plans so they can get implemented.
The government must stop building golden projects of any of those structural projects, and stop assuming their wealth are comparable to like in US of those high structures they are building which just let Philippines earn cents. They should focus in how to boost Philippines productivities, expand farms and industries, try to establish also alot of technological productions and technological research and development, where sooner can give us budgets to build our infrastructures without barrowing money from world bank. If tax wasn't sustainable enough to let our ECONOMY grow. The government must stop dreaming of those high structures which not fitting to those people who will live in there. Must improve first thier skills or talents of those people (who will the one who will take use those structures) before dreaming of that rich growth of the economy which people can't afford yet and can't sustain yet such as tax to fix the amount of how much really needed or how much will cost to build those high structures. By giving them talents that will lead the enrichment of the country in the future. Without those talents of researching new innovation and developing it for farm and agriculture, for technological enhancement or advancement for those equipment use in farm and industries, of inventing those gadgets and any of the technological products, the country will remain poor... Without those technological enhancement the productivity in Philippines is slow. But before you will believe this amount of depth which either america just invented it without any basis inorder to control Philippines and manipulate our government such as puppets that will do whatever they command. Let's evaluate first the actual progress in Philippines ECONOMY. How much are cost of those projects which they seem ambitious of building those projects while there is no enough resources in Philippines. Let's do math the tax, the expenses or cost of those projects, etc. It may take a while in calculating it. During this time, the banko central ng Pilipinas is not really trusted of all what they admitted to people which either they just under the spell of the United States of america which they just lied to people.. This video is seem incomplete, they just talk depth without any basis, they just counting the amount of depth from that year, they don't add how those amount of money has been SQUANDER by the government, in what projects, what basis, etc.
The external debt of Pres. Marcos Sr. Gov't is 16 billions dollar based from this report , right now, the gov't external debts to world banks is 108 billion dollars, so how much is the inflation.rate from 1986 of Pres.Marcos Sr. compare to past presidents and present?
but the GDP at that time is also way lower compared to the present GDP. you cant justify external debt being lower before than now if its literally 70% of your GDP
Which is why we the philippine need to see the good side of our country.
Politics will always be here and everywhere , around the world.
Keep praying and trust in God.
We will stand taller than everybody someday just like before
Great job explaining how the financial status of the country is going. As long as there's no corruption and there's transparency on how the funds are utilized the country will have a good future.
Hello Behind Asia! I am a 16 year old boy who really love your videos and I mean REAALLY LOVE you-re videos because of how easy it is to understand economy of countries because I find it really difficult for me to understand such by reading books as I find it very very complex without easy-to-understand visual guides to understand everything that they are all saying at the book that this channel all have. More power to your channel and really hope that this channel get more bigger and achieve more people in the future! Thank you very much again, I dearly, dearly love the content that you make and will still continue to watch it!
Thank you so much! We really appreciate your comment, and it gives us motivation to create more. Stay tuned!
i really hope you dont obtain information only on youtube. it is also important to do your own research and verify the facts presented to you
@@aise3722 Tha ks for the concern but as I stated, I also read books fact-check what I learn here I just stated that I find his more easy to understand because of how well made this is and how they can open up interest of many people to politics because of said easiness. Thanks for the concern tho stranger from the internet, I really appreciate it as this conversation can also open someone's mind just to not rely all of the information they want to know solely on just the internet :)
I’m just so happy that at 16, you are interested in economics… unlike other young men like your age who are engrossed in video games. Keep it up! I think you’ll be one of our great economists in the future !
16 yr old! You're off to a good start fella!
You gained a subscriber 👍 People of the Philippines just suffered beacause of government mismanagement but it's not late to catch up.
Blame the colonizers who stole all your gold and taught you scarcity mentality. The Philippines is the land of Ophir.
@@MM-qp4pd gold? what gold? stop believing conspiracy theories
Correct because of the corruption
Eye opener info hope those government detractors will watch and analyze the scenario that Philippines is heading toward strong economic power as new industrialize country. Prayers and God bless Philippines.
not sure about industrialized, but it's more closely seen as moving towards a strong information and service based economy... think of call centre, tech, web development, tourism, mdeical, etc... It's basically skipping "industrialization" as an economic driver. This is a good thing. most western countries are moving towards this direction leaving behind old industries and making other countries do the industrial work for them... that's why the "factory of the world" was china and now moving towards india.
@@zeighy i think he is right. industrialization in my personal understanding does not only limit on manufacturing equipment, machineries, or of any sort of high end gadgets on factories.. but its something like being able to transform a once old slow paced economies into a modern and vibrant one in concert with those richer economies on some part of the world .
How....how..?
Thank you, for more CLARIFICATIONS regarding foreign debts held by the Philippines.
Am really glad Philippines is finally getting back on track.... Thank you!
Back on the 1970s track that is
you do know who the 1975 president is right?
1969 New People's Army also known as Communist Party of the Philippines was born. Progress in the Philippines stopped dead on its track. We waited 30 long years. If it wasn't for Former President Rodrigo Duterte jump starting it, we could still be waiting a lot longer.
Back on track in inflation. More robberies happening. You must be a crony for saying that Duterte and Marcos put the Philippines back on track. You must be living in a private subdivision and paid by the government to say all this. Most poor communities are now denouncing Marcos and Duterte. Time will tell and people and will be back protesting for higher income wages and lower product prices. Just like in the '70s when Marcos tried to shush the people who were complaining about low wage. That was the real start of Martial Law because he couldn't contain the people's outcry for higher income and wage.
“Those that fail to learn from history are doomed to repeat it.”
And here we are with government asking for confidential funds back in track for corruption.
@@edwinarcilla5888 lol Duterte jumpstarted what?
Debt is not bad, every country and every person use debt to gain properties they cannot pay cash but can pay in installments with interests attached! Loan to buy a house, a car, go to college/ university, start a business and expand a business, build and repair infrastructure! Without debt life will be more difficult. As you have said Debt is used to leverage growth!!!!!
Japan is a great help to us notwithstanding the past war atrocities to each other. They treat Philippines as if their province that must develop economically. In return, we are also supporting Japanese products and restaurants in the country.
Okay weeaboo
Nippon Banzai
It's funny how my own countrymen treat our homeland like some province of another rich country, doesn't matter whether it be China, USA, Japan, and etch.
More of an ally not a province 😅
@@ysgnar2395 Filipinos suffer from brain drain and colonial mentality, it's sad really
One of the most hardworking nations. Philippines 🇵🇭
Corrupt also
@@waterlily2839_chua yep corrupt ruined the beutiful country
But some Filipinos call their own countrymen lazy
Ulol naipasok mo na naman yang proud to be.
@@waterlily2839_chua and what country do you think has no corruption?
I wonder who was PRRD's economic adviser because they really did a good job. It doesn't matter what political colors do we associate ourselves, we only have one country. My prayers to or President and government leaders, may you never forget the people who put you in our respective offices. Our lives and our future are in your hands. Mabuhay ang Pilipinas 🇵🇭
si prdd nyo ang may pinaka maraming utang na nagawa kaya tayo nagkalubog lubog sa utang.. ano ka ba? bulag😂
C PRRD economic adviser nya c Gloria
Si PGMA pla.. ih sya din ung president na dumanas na ung Mundo ng crisis samantalang ung pinas di Ganon ka apektado... Magaling sa economics. And nagbenefit si pnoy sa mga projects Nia.
Usapan ng mga apologists 😂😂😁 binaun ni duterte ung ekonomiya sa utang tas pupurihin ampota
Blame the colonizers who stole all your gold and taught you scarcity mentality. The Philippines is the land of Ophir.
Great explanation, little did we know bigger countries has far more bigger loan/ debts.
Yes, developed nations have way more debt, but they also tend to use it more productively, and the results are evident, right?
This is eye-opening as it is astonishing, this is really not being the talk of the mainstream media in the Philippines. Would you please cite your sources about these figures taken from? It is not to my disinterest but it would help me follow your sources so that I could better grasp the figures myself, too. Thank you.
Most of these are from the website of Bangko Sentral ng Pilipinas(BSP). - www.bsp.gov.ph/
@@BehindAsia anybody bother to verify BSP's sources? LOL
@@bureaucrazy1234 are you saying BSP aren't credible enough?
@@bureaucrazy1234 BANGKO SENTRAL IS PARALLEL TO WORLD BANK ..
@@Hesoyam31 the information used in this analysis must undergo scrutiny by 3rd parties to be considered credible. has it?
OFW's remittances helped a lot through those early years
Not only OFW but BPO also making it. BPO in the Philippines is taking over OFW remittances already.
@@PAGTATAGera include also seamans who worked on ships. The unsung underrated heroes
debt no problem, CORRUPTION is
Debt is really not a problem, if we can see where the money is being spent on, and if the revenue from that debt is visible.
While debt can save the country along the way, corrupt politicians can do otherwise.
This is how the Government should explain to the critics especially to mass media here in the Phils.
If the philippines actually manages their debts correctly, with the proper investment (agriculture being the undermined one the most), you would see the philippines as the agricultural hub thatll support itself and other countries. Its safe to say, that the govt here doesnt do any step to further strengthen its already gifted potential.
They are. Actually, 40% of the workforce population in the phil was in the agriculture sector 30-40 years ago at the time of their president marcos. Now, the agriculture sector only has 10% of the population workforce and the rest has shifted to the latest trend which is telecommunications and other services workforce and now, the late president's son has now taken his place 30 years later and reviving their nation's agricuture industry to its former heights.
@@justinmacasinag6258
Lack of Largest Land for Farming, we want thousand and Hundred thousand Hectares or more than a Million hectares of Land for Farming ,it's better to handle a Larges company, than to small owner like a half ng hectares for Farming, We Believe in our days that we are forever Import Rice in our neighborhood countries.
@@justinmacasinag6258 i appreciate the effort being put into place on the agriculture industry, its just that its mismanaged and lacking of insight. there is always a stigma towards farming in general, since the times after the americans, they were labeled as either poor or communist members. alongside a general shift of the generation's ideals and mindset, there is a lack of motivation for agriculture in general. lack of proper funding and stigma, even when theres a drive, it doesnt really do that much of a difference if theres no pay/benefits for the people. if we take your word that it used to be around the 30%-40% of the Marcos presidency, then why were there protests from all sectors including agriculture? theres simply no real benefit for the farmers because they lack the basic needs for sustainable livelihood and life in general. we'll be importing more and more common goods in the country if we do not manage how to regrow the sector of agriculture, as well as making a better infrastructure that will support farming, as well as giving more benefits for farmers. unsustainable farming and unsustainable livelihood = no real agricultural growth.
@@justinmacasinag6258 marcos sr. Started the downfall of agriculture by capitulating to tycoons and forcing farmers to play bloated debts.
Blame the colonizers who stole all your gold and taught you scarcity mentality. The Philippines is the land of Ophir.
Pres GMA despite her unpopularity implemented another round of VAT increasingly inflation, but made the country in a stronger position.
The 1997 Asian Crisis made private financial managers move on the conservative side. Same with Indonesia and Thailand.
When the 2008 and 2018 financial limbo erupted round the world, SEA fared better than than the rest.
People should see more contents like this.
I learned a lot in these channel im only 17 years old but im so interested about economics
All thanks to the then President Gloria Macapagal-Arroyo. Her economic reform was frowned upon by her people but then they reaped the benefits. There are youtube videos where she discussed this during her time.
according to the video 2003 phillipiness debts 70% against GDP due to corruption and mismanaged... 2003 Gloria arroyo administration.... Gloria economic reforms was a propaganda to justify massive corruption of Gloria admin.. what economic reforms. nasaan ang economic reforms na sinasabi nila..
wala... nasaan ang MGA inutang ni Gloria... sa 9yrs ni Gloria Meron ba siyang matatawag na legacy or naipagawa nya dapat Meron KC napakalaki ang nautang ni Gloria...
Credit grabbed by Noynoy. Buti nalang naabo na.
@@leonortenorio6604 Flagship infra projects was canceled by Noynoy if you can still remember. I mean all across the board.
Her legacy was the Nautical Highway and tax reform. ano ka ba. she modernized shipping routes local and international. also, the BPO industry.
@@leonortenorio6604 eh sino naman kaya ang previous president natin niyan noh? nakalimutan mo ata. you can't u-turn your economy in just one year. nag-aral kaba? or sadyang ganyan lang logic mo just because.
@@reinpinebook825 well, he did his best. that or pasagasa siya sa train, either way he is now dead.
"The rich rules over the poor; the borrower is slave to the lender." (Proverbs 22:7). "Owe nothing to anyone." (Romans 13:8)
Give to Caesar what is to Caesar, give to God what is to God. Mark 22-21
debt is not a problem
corruption and the cronies of politician here in the Philippines is the problem
as foreign debt implementation is only 75 %
The reason why most projects are expensive and at times subpar, is and will always be corruption and thievery inside the government. IF this video is telling the truth (which I'm on the fence with), then we should be in a much much better position than where we are now. But you can tell for yourself that the lives of Filipinos are improving in a very snail pace at most. Poverty is even on the rise!
Thanks for this info. All these fruitful results are the efforts & honesty of Ex PRRDuterte & now being continued by PBBM . God Bless the Philippines forever.
Hahahahah
Yes. Thank you for the additional 16 trillion debt that we have to burden the best indeed.
@@rjgonzalez9220 thank goodness you commented. I had to, myself. People didn’t bother to know the difference between external debt and national (public/sovereign) debt. Age of misinformation indeed.
The PHilippines were approved by World Bank to borrow or loan because our country have the capacity to pay and our country have funds in different countries and backup by golds. Recently the former CB President said that PH sells gold and we dont buy it.
9:00
That tremendous decline (2002) happened during GMA's presidency (2001-2010). She really is a genius economist! But I'm not surprised since she went to Harvard. Nakakalungkot lang na pinapangit yung image nya.
she cheated the election, obviously papangit image nya
The video hide the 2021 to 2022 data for the debt-to-gdp, because the data suggest at that period accounts for 60% and that level is at the end of the term of Pres. Duterte, which means the first four years has quite low at 30% and in the last 2 years, it ballooned to 60%.
The Philippines was one of the richest in SEA in 60s
I believe they will do it again just work harder
Love from🇲🇨❤️🇵🇭
Not if they keep voting absolute morons. Their current president doesn't even have a degree and is the son of a dictator xD
After Marcos rule, the phillipines economy went downhill.
@@lorettaloo7657 blame it to the NPA who sabotage the economic growth of the country, and until now they are still the headached of everyone
, and I bet you are one those who are still blinded the yellow's agenda.
😄 Keep dreaming. 😄
People like@@lorettaloo7657is the reason why the Philippines will never have real progress.
The amount of debt itself has actually increased since the Marcos years, not decreased. It's the Debt/GDP ratio that has decreased, mostly due to OFW remittances and BPO's.
this video is well researched and well done.
Thanks for putting things into perspective!
As long as the President and Vice President with the help of upper and lower house eradicate corruption, maintain peace and order and elimination of drug personalities in society and in the government departments. Its going to be good for the development of the Philippines.
I have been traveling and living in the Philippines for several years now and the PH debt has been a concern so I really appreciate this discussion. It will be interesting to see what the last 2 1/2 years+ of lockdowns, travel restrictions, and economic disaster will do to these numbers as data becomes available. Tourism $$$ is a big part of the economy and has been nonexistent for most of 3 years and they will miss out on another "high season" as they are just now opening up to travel.
Scrapping that ridiculous airport tax would be a good start to bring in more tourists.
Debt is part of any economy. What is bad is people voting for corrupt politicians and an incompetent, no degree and party party President.
yup like most recently the lighting of the san juanico bridge. government projects are one of the keys to get some overpricing projects and kick backs.
@@step_freeskills101 correct 31 milyon 🅱️🅾️🅱️🅾️
Debt is an asset if leverage it right and must have purposeful results i.e. building infrastructures to promote and/or do economic expansions and eliminate government waste and/or rid of nepotism. Do 50/50 government and private equity partnership that would reap rewards first the government for more economic expansions while private equity will eventually get their money in a long-term contract with substantial interests ( % long term earnings or a stake on a project and/or incentives. ) If defaulted on the debt Government has to have a coffers through bonds that would payoff its debt - Reserve Fund. This would lure more foreign investors long term.
Hope ABS CBN is watching this.
ABS CBN will choose to ignore it and try to put their political agenda
you mean, hope the kakampinks are watching this? because theyre the ones consuming everything MSMs put out there, talk about sheep mentality
Remember the year..1970 when it was not transparent. Singapore is the hedge fund center in Asia.corrupt officials and drug lords put their money to the care of hedge fund managers In Singapore and is laundered back as investments in the pH and Australia.take not if that the year that its not transparent is during the 1970 onward..we know who was I charge during those period of intransparency...just saying.
Hi.. but what I know our debt to gdp is 62%
@@maharlikabebz2249 not really a problem, USA has 137%, Japan has 266%, debt to gdp is not an accurate determinant of how the country is progressing. It's how the money is used.
debt to gdp ratio is just how risky it is for international lenders to lend money to the country.
GODBLESS PHILIPPINES🙏🏻🙏🏻🙏🏻❤️❤️❤️🇵🇭🇵🇭🇵🇭
Philippines is great country and has the lowest external debts comparing other countries
2018 to 2021 that’s the year when corruption was controlled and transparency was its finest 👏🏻
Debt in the Philippines is not a problem if used wisely. The main problem is corruption in many aspects of society. Temporary loss of patriotism is one of the main causes of this due to communist infiltration which should be thwarted as quickly as possible. Unity among citizens is a must. Bayanihan is the key.
We have learned from the past and our growth has brought new opportunities such as our own MNCs capability to borrow from international financial institutions. In the 70s this was not possible and we could only borrow from government through the BSP which borrowed from the IMF/WB/ADB.
Foreign debt is not bad if used where it is intended for. PH has failed in curbing fully graft and corruption. We could have been one of the Asian powers decades ago but still hoping that we could be one. The number one priority is prop up infra and agricultural projects in rural areas to prevent population migration to urban areas plus ease up logistical issues in the transfer of good and services throughout the country.
Meanwhile hindi talaga mawawala yung economic sabotage. Tskkkk
6:21 The naysayers among the Filipinos would try to debunk this figure. Most likely their opinions would be heavily laced with pessimism or political overtones. Their indifference would be much more pronounced if the incumbent president is not the candidate that they voted for during the election. This is something that Filipinos should address if they want their country to achieve economic prosperity.
Wait till all the infra constructions now is finish!!! The phil with good infra together with good location in the heart of the region!!! Great location for business!!!!!!!!
Hopefully this information is helpful for the poor people not to corruption of government politicians and businesses only….
Research lang kayu becoz hindi tayu pinakamataas na may utang sa boung mundo.dont worry we are always paying the ang utang.
media in the philippines says filipinos are in very deep debt that our grandchildren's grandchildren's grandchild will be so poor and in debt that he could only afford a grain of salt a day.
I heard that from the mainstream media since 86 when I was 14 years old… but more that 3 decades past I think we are far better than other country. I hope the media will be partner by the govt especially in promoting the good side which will attract investors and tourism
Great vedio clear and simple thanks
Borrow more and use it to build or improve infrastructures thus providing employment and building assets in the form of infrastructures. Use the BANKS mo ey to build assets Or equities. ...these equities will be used to improve the lives of many with the benefits gained from infrastructures of roads bridges hospitals schools etc. Go go go Philippines ❤️❤️❤️
Debt is not really bad as long as it’s not corrupted, but I guess 50% of government debt goes to politicians…
If your guess is correct, then the Philippine debt should have been terrible now. The Philippines should have collapsed ahead of Sri Lanka but that is not the case.
Surprised that Japan provided more aid compared to China. Even before Japan is one of the good allies of the Philippines, Philippine government should reciprocate and provide all the support it can give even thou Philippines has little to offer it should provide big tax breaks and allow Japanese culture in the workplace, discipline and perseverance.
Allowing Japanese companies more freedom will increase workers productivity, resulting to better profits for foreign companies, resulting to more foreign investments.
Awesome video; keep up the good work.
Thank you Japan for helping the Philippines. You are. a true friend and the whole nation is forever grateful for your full commitment to the Philippines. It turns out you are our greatest friend and supporter given how you are supporting the country’s infrastructure push
no
Use the word NEGLIGIBLE to refer to amounts not NEGLIGENT.
"NEGLIGIBLE" means a very minor amount or degree.
"NEGLIGENT" means to be very careless or not exercising the appropriate level of care.
All in all how much is the total debts of the Philippines from foreign funds?
There is enough capital held by Philippine investors. While foreign debt if utilized well can still contribute to the development of the country, the volatility of foreign exchange vis-a-vis the US dollar presents a greater risk to the servicing of foreign debt. I think the country's PPP program is a better vehicle to accelerate the Philippines growth and compete with its peers in Southeast Asia.
The future of the Philippines looks very bright in my opinion, owing to the fact they have a young president with the energy and ability to take the country forward, plus it has oil and gas of it's own, oil is being extracted right now.
Gesara will erase all debts of foreign nations.
Debt is not a problem. I have a problem with debt being spent on useless poor people who keep the intergenerational cycle of poverty who Anak pa more with wlang Pera and their teenage children even as young as 11 having babies.. and then BLAMING the government for their problems.
That's what the communists did.
@@reinpinebook825 The communists never put a gun to man or woman to produce children they can't afford.
Social assistance is a privilege to those who can be managed... Disciplined... Guided. Here, (in the Philippines) there's millions that look up to their sky daddy "hoping and praying" for blessings..
if we treat the government as idols we shouldnt blame them as you said ,but if these government people are treated as paid workers we should blame them, now if they dont want to be blamed dont apply as a worker...the government should be treated the way our bosses treat us in our work, they are not heroes, idols or crush, they are simply paid workers..
@@jeffreybourbon7273 Your comment applies to all nations. What nation does NOT have dirt under their finger nails?? Some nations make billions and billions of dollars sweep under the rug but why is their bedrock as a country at the family level so strong?
Brazil Mexico and Philippines are top 3 most religious catholic countries. Is it not funny how they are also ROUGHLY in the 3rd world category?
Dig deeper... Church mixed with state?
@@brentvillanueva15 i understand that there are nations that are corrupt, but that doesnt make it right because some are like that, that to me is not valid, it just follows the corrupt religion equals corrupt government, thats why religion should only be allowed at home for personal practice, Philippines is following the footsteps of these other nations, billionaire politucians without business, actors who doesnt make money in movies makes tons in government, old useless politicians with millionaire mistresses, a nation that depends on working abroad, but government people dislikes the nations that its people are going to work in, like hating on EU, Canada an USA..
In Gods will all these debt will be paid in due time,HE will provide
Forgot to mentioned Infant Mortality rate , a UN & World index / MEASURE of any Country's economy
Better said than done, Philippine currency is deteriorating. Population explosions is beyond control and population is religiously indoctrinated.
lol! it's done
Thanks to Pinoy
External debt is different from the national debt. The national debt of the Philippines is over 12 TRILLION.
Debt is good for a country provided it is used for productive infrastructure construction and does not promote corruption and fallacies.
Imagine if our officials are not corrupt.
Good job, Mr. President BBM!
thanx to our filipino migrant workers...true heroes of the Philippines. we have a huge surplus of american dollars..so huge that we can even the value of the dollar...one dollar to one peso and our economists knows this...ask them,
Oh my god! your a genius guy thanks a lot, you clarify everything about the government debt, anyway The government of today are more smart compared to to yesterday right? thank you for your support to the filipino people mabuhay ang Pilipinas!!!!!.
Blame the colonizers who stole all your gold and taught you scarcity mentality. The Philippines is the land of Ophir.
Thanks to Former President Gloria Macapagal Arroyo!
You are right if these debts were used for economic growth but the sad news that almost half of these debts went to the pockets corrupt politicials and the other half to substandard projects that don't last for many years. And we are only talkinghere of external debts. Our domestic debts is also high ,maybe close to 1 trillion pesos!
sabe nga dun sa video nag grow na economy natin from 70% na debt to gdp noong 2003 naging 20 something nalang ngayon pero pinopolitika parin, the way ipahayag yung debt natin ngayon sa mga mainstream media parang mas lumala pa lalo kaya maraming nagagalit sa gobyerno where in fact ang laki-laki na ng improvements. kung kinokorakot lang ng politiko majority ng funds edi from 70% dapat nasa 150% na tayo at mas nauna pa tayo sa sri lanka na bankrupt pero hndi eh. tumaas lang kaunti debt to gdp natin nung pandemic parangmalulubog na sa utang ang pilipinas the way mag react mga pinoy which malayong malayo pa naman based sa videong ito.
@@Hesoyam31 external debt to gdp po ang sinabi na bumaba, pero ang debt to gdp ng pinas nsa 62%
"Rate of Return", my man, ROR😊. . .and, NO country is free from corruption. Agree? Mabuhay!!!🇵🇭
Well presented and nicely explained.. thanks! :)
I think this is a very generalized view. The effects of the external debt have been different from time to time. In this case, the external debt during the 1970s was far higher than its predecessors, it slowed a bit in the 90s but it was still growing. The Asian Financial Crisis then suddenly added a lot more debt as can be seen in the data post-90s. However, the ratio started to dip down as austerity measures were in place.
The biggest reason why external debt dipped down was entirely because every successive government post-Marcos has been implementing an economic policy of austerity above all else. Its only now with the recent government that a policy of building took place as such debt is starting to mount up again especially with Covid-19
If some of bank FX loans was extended to Finance the purchase of Malampaya oil fields then the bank/s who extended the fx loan will have difficulty collecting the FX loan
problem occurs. most of the masterplan of marcos to the philippines have been change and get shutdown by aquino. if only the power plant and the sewage system have been followed manila is not having so much problem with the flooding.and the power plant should be earning money and some of our department/business will not go to private sectors like the water and electricity sector. where aquino sold them to their family relatives
Philippines have strong economy because of ofw , the income taxes is very stable but the problem are our politics they need to manage it properly , pres Duterte proof it already .
did you included the previous administration borrowed money, it creates so much suffering to the people! you look at positive side for the rich people but its makes so much suffering for the poor
wowwww nice informations and to listen this vlogg mabuhay po kayo .
Please check the data. Sources show that Philippines debt to GDP ratio is currently at 62%.
please watch the video again with better comprehension
Compare debt to asset for example in mining if the reserve mine has trillion dollar in number of years that will be its revenue for its GDP to ration of debt…so Philippines has more assets than debt…
Hi BA, I want to verify, i read that Philippines debt to GDP ratio is 62%
Am I missing something here?
Hi, I'm not an expert but 62% Debt-GDP Ratio is the total debt (domestic + foreign) over the GDP. Domestic debt includes the fund from BSP, state-owned bank (Land Bank, DBP, etc) and maybe private banks borrowed by Gov't or Private sector interchangeably. BA is only concerned in explaining about the foreign debt since Filipinos had a trauma of foreign debt since 70's. As said in the video, handling of foreign debt is the issue but we have transparency as where is it used nowadays. Hope I answered your question.
@@jonathanjayfrancisco8534 oh I see. Thank you so much for the explanation ☺️
Also, in housing sector, the Filipino citizens in general (or majority are still) shy away from getting their own house and lot thru loans so it really is very low when it comes to that. Most domestic loans are coming into the business/small business sectors. This is worth noting because housing loans are very much the major driver of domestic loans in most countries which also suggests a healthy figure.
@@maharlikabebz2249 Welcome
How much is the foreign debts of the Philippines?
Please advertised just to inform the people Philippines
@Behind Asia, have you tried living in the Philippines? When Marcos Sr. plunged this country into debt, the standard of living of Filipinos went from palace to prison. Debt is the TYRANT master that Filipinos are struggling with. It's a filthy & squalid condition of life you wouldn't want yourself trapped into. Our overseas workers are working like slaves to pay up debt that was brough about by our evil oligarchs.
I should say it's meticulously well said about the external debts of the country, because of rampant corruptions foreign debts will stay in the country for long time, I've been out of the country 47 years the standard of living still the same regarding more peoples creates more poverty's corruptions is a killer for the countries futures like drug dealer easy money no hard work whoever it is the President in the country doesn't make any difference corruptions always be there actually I'm sick of it
Why separate external and internal debt??? Both have to be paid.
In fact, ₱1.6T of the 5.5T national budget for 2023 goes to debt servicing. That's 1/3 of budget that should have gone to benefit the people.
Regarding the infra that were built, since 2 decades ago, most of them were done under Public-Private Partnership. Private companies fund them, operate for a few years until they recover the cost, then turnover to government. No loan was taken to build them.
Correct well said
Sorry to disillusion you about PPP,they do not work the way you fondly believe .Look it up. Economics not your strong point?
@@jasperpike242 Ah. Typical troll. First, he/she/it commits grammatical mistakes. Second, he/she/it asks me to research for him/her/it. Try harder.
@@EC-gq4xx i bow to your undoubtedly superiority on all things o wise one. Now go back to scrounging pints from the good folks you've been boring to death all these years.
@@jasperpike242 You just sounded like a troll...
Most of the comments here are Heavily Politicized.
I don't care who's the president of the Phil. as long as it boosts our economy then good because it's their job, as a Filipino we can agree or disagree on this but in every situation there's always two sides and all of the Presidents are not perfect even the present one.
As long as the President doing his or her job then we need to support, Philippines is a huge country and I'm not some kind of person who is expert in economy or politics. The word Propaganda is always painful to hear or read. Because if a certain video or content is not in favor to your Political biases, you will say "Propaganda" or "Fake News". Saying Propaganda or Fake News a certain content or video will not make the Philippine economy grow and it will not benefit a poor Filipinos, it doesn't make any sense at all, insignificant and futile.
How are we supposed to know which presidential candidate will give us the best economic boost??? Look at their policy, sure, maybe listen to their speeches, see what they have to say, alright, but a big problem in philippine politics is everyone and their mother is a lying sht that just wants to horde as much money as they can to Switzerland before they're exiled so any kind of policy becomes untrustworthy after that. We can also look at their background/past to see if they're more likely to be genuine. Our current president is the son of a tyrannical dictator who ran our economy to the ground, so already hes very untrustworthy..
Nice video and informative
Thank you Japan, thank you China, thank you ADB..❤️🇵🇭❤️
🙋Thanks to OFW and Pilipinos/Filipinos living abroad, that debt will be paid off sooner or later.🙏 Number one export of the country. More people go abroad, more remittance and more income. 🙌
🙏🕊️♥️
Don't forget the BPO call center agent also.
HELLO ANTONIO TRILLANES? THIS IS WHAT YOU CALLED CHINESE DEBT TRAP? LOLS!
while the Chinese debt trap is true for other nations, it may have been handled differently by the Philippines. Even the Malaysian Prime Minister warned the President Duterte because Malaysia seems trapped by Chinese Debt. Lots of friends.
Trillanes and the Liberal Party is all about taking FRRD down playing attack dog of FPNOY and currently playing victim roles 😆
@@sunergi Yes, Philippines has the history of expertise of handling external debt since the country gain its independence earlier than any other countries like malaysia.....Sri lanka and malaysia might fall for the trap but not the Philippines though.. Yes our politicians are corrupted but they can't let the Country fall, that is why our country progression is slow but atleast its growing.. how much more if we chose the right Politicians to lead us to progression at faster rate.?
Philippines is now in good leadership so in his term Philippines will rise again . Thanks for your clear explanation.
good news to invest in the Philippines since they have lower external debt
Yeah, but where did all the money that were borrowed go? The Philippines gained nothing.
Really? You should get out of your gated houses or something. I myself had a chance to travel of what used to be a 10 hour travel reduced to 4 hour travel. That also includes site seeing.
@@iwantarandomname121 I guess you're not aware of the still large percentage of Filipino population that are impoverished. Or the lack of accounting as to where the money went? The Aquino administration was able to do a lot and yet was able to reduce the debt at the same time. (And NO, I'm not a fan of the Aquinos.) Many of the projects that were finished duing the Duterte administration were projects that were planned and started by previous administrations. You should be thanking them.
@@GTX311 planned but were not implemented. Implementation requires the bulk of the budget not the planning. Which means it was Duterte who worked to ensure funding of these plans so they can get implemented.
@@GTX311 PANOT - PPP = Plan plan plan lol Learn more.
@@jarchibaldo8188Nice excuse but that's not how it works.
We have a high hope that our newly elected President Marcos Jr... will make the country progressive..
The government must stop building golden projects of any of those structural projects, and stop assuming their wealth are comparable to like in US of those high structures they are building which just let Philippines earn cents.
They should focus in how to boost Philippines productivities, expand farms and industries, try to establish also alot of technological productions and technological research and development, where sooner can give us budgets to build our infrastructures without barrowing money from world bank. If tax wasn't sustainable enough to let our ECONOMY grow.
The government must stop dreaming of those high structures which not fitting to those people who will live in there. Must improve first thier skills or talents of those people (who will the one who will take use those structures) before dreaming of that rich growth of the economy which people can't afford yet and can't sustain yet such as tax to fix the amount of how much really needed or how much will cost to build those high structures. By giving them talents that will lead the enrichment of the country in the future. Without those talents of researching new innovation and developing it for farm and agriculture, for technological enhancement or advancement for those equipment use in farm and industries, of inventing those gadgets and any of the technological products, the country will remain poor... Without those technological enhancement the productivity in Philippines is slow.
But before you will believe this amount of depth which either america just invented it without any basis inorder to control Philippines and manipulate our government such as puppets that will do whatever they command. Let's evaluate first the actual progress in Philippines ECONOMY. How much are cost of those projects which they seem ambitious of building those projects while there is no enough resources in Philippines. Let's do math the tax, the expenses or cost of those projects, etc. It may take a while in calculating it. During this time, the banko central ng Pilipinas is not really trusted of all what they admitted to people which either they just under the spell of the United States of america which they just lied to people..
This video is seem incomplete, they just talk depth without any basis, they just counting the amount of depth from that year, they don't add how those amount of money has been SQUANDER by the government, in what projects, what basis, etc.
The external debt of Pres. Marcos Sr. Gov't is 16 billions dollar based from this report , right now, the gov't external debts to world banks is 108 billion dollars, so how much is the inflation.rate from 1986 of Pres.Marcos Sr. compare to past presidents and present?
but the GDP at that time is also way lower compared to the present GDP. you cant justify external debt being lower before than now if its literally 70% of your GDP
You need to correct China loan. You said 22 billion, but the print says 2,2 million
Debt is not bad but not if the money goes into the pockets of politicians.