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Remittance and poverty level

24 Aug

My  topic  today  is about   remittance  and  poverty  level. 

My  views   are  purely  personal,  because neither  am   I  an   economist  nor    am I  a  social  scientist  expert  that  I  can  talk  deeply  about the  effects  of  the  remittances  Filipino  expats  send  from  abroad  in connection with  the poverty  level in the  Philippines  right now. 

But as  a  Filipino,  I  must  say  that  I  am  deeply concerned about  what is  going  on in  the Philippines  specifically on  the  aspect  of  economic  growth and development.    I  have  a lot  of questions  in mind   but  I think  I do not  have  much  space to  write  them  all down.   So I  would  rather  give  a more  general view  about  the topic  I  chose  to  expound  on  today.   

We  are  fully  aware  of the  fact  that  Filipino expats  contribute  a  huge  chunk  of  money  to  the  GDP  of  the country,  10% to be  exact.  Filipino  expats  remit  an  amount  of  21.3  Billion  US Dollars  to the  Philippines.  The  World  Bank  has  listed  our  country  as  the  4th  largest  remittance  recipient  country  in   the world.   The  Philippine  government   itself  admitted  at  one point  that the  remittance  received  in the Philippines is  actually  keeping the  country’s   economy  afloat.   It’s an  enormous  effort  on the part  of  the government to  admit such.  It’s  more  or less like  an  admission of  its  “incapacity”  to provide  resolutions  to  the  economic  condition   of the  country,  while at the  same time,   it   shows  the  passivity   of  our   political  leaders  to  seek  appropriate   solutions  because  part  of  the problem  is already  being resolved  for  them. 

Poverty in the Philippines has always been one of the major issues the Philippines  is  facing  today.   The   Social  Weather  Stations  has  in fact  reported  that  there  are  more or less 30 million families that  have   considered  themselves   as  poor.     Moreover,  it   stated  that  the number of Filipinos under the poverty level has increased.

Despite the   large  participation of  the  Filipino  expats  who  are  “burning   their  eyebrows”  to  send  money  to their  relatives  back  home,  it  seems  that   it  is  not  actually  helping  the  country  contrary  to  what  our political  leaders  have  stated  as  it helps  keep the economy   afloat.  To  my  mind,  the  government  could  in fact  work on alleviating the  condition  of the poor  by  utilizing  part  of  the  remittance  volume  percentage  received  abroad.    If  it could  only earmark  at least 2%  from the 10%  volume  it  will surely  contribute  in decreasing  poverty  level.   A lot  of   case  studies,  researches, investigations   and  reports  have  been  written about  overseas  remittance  and how  it affects economic  growth  and  development.  Yet  despite these  studies and reports,  our  political  leaders remain  silent  and  numb  as  they  practically  do not  give  notice  to  what  these  experts  have  recommended. 

Poverty  level  will  keep  on  as  it  now  or  even  more  as  experts  have  already  forecasted.  Unless something  drastic  is  done  about  the situation,  the  Filipino poor  will  remain  poor.  Despite  the  fact  that  the  opportunity  to  have  a  better  life  is  just  around  the corner  and  in  sight,  it  remains  unreachable  and evasive  to  millions. 

This is my  view. 

Have  a wonderful  day…. Eric

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1 Comment

Posted by on 24/08/2011 in Filipinos around

 

One response to “Remittance and poverty level

  1. Eloisa Munden

    24/08/2011 at 14:08

    Very true. Hats off to the OFWs who are not appreciated, yet, their remittances keep the Philippine economy afloat.

    Like

     

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