Folks, Read the article: investphilippines.info/arangkada/growth/remittances-are-important-but-distort-the-economy/#fig17 The title is a bizarre theory with which I wholeheartedly DON’T agree. On the contrary, it is the OFW remittances that have kept our economy afloat and on an even keel. You notice, in times of great difficulty, OFW remittances also increase, thus allowing families to recover at a faster clip than what is possible with government recovery efforts that are almost always dragged down if not reduced by red tape and corruption. Were it not for OFW remittances and the safety valve of foreign employment, I just dont know what would have happened to this country. It is not the OFW remittances that distort the economy but the lack of planning on the part of the national leadership on how to apply these remittances to worthwhile and strategic uses so as to develop a strong economic and agro-industrial base capable of producing what we need and absorbing the labor force. Four thousand plus people leave the country everyday to work abroad. It does not help that our government officials are greedy and corrupt as shown by the DAP and PDAF. These are the real causes of economic, political, fiscal and monetary distortion: our national leadership dont use their head for the good of the people and the country, but only for the lining of their pockets, and their greed knows no bounds. The OFW remittances dont distort the economy. If it were really true that its the OFW remittances that distort the economy, what do you think would happen to the economy and the country IF the OFWs decide NOT to remit for one year, or even for just one quarter? It is really a source of wonderment to me – and sometimes disgust – why OFWs don’t take the time and don’t exhibit much interest in answering back this kind of idiotic theory. On a bigger scale and after a long time working with OFWs on diverse matters of their concern, I have noticed that they have no conception of their legitimate economic, political, cultural and social rights within Philippine society, which are vested in their sector by virtue of the fact that for many decades now, they have kept the Philippines intact and reasonably strong in every sphere: political, economic, cultural, social. It is not just their respective families that they have supported; it is the whole country. The OFWs are entitled to and they should claim these legitimate rights. Harinawa. Whatever the case, this may be of interest to the OFWS here: https://devbnkphl/news.php?id=79
Posted on: Wed, 20 Aug 2014 11:48:48 +0000
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