Budget Deficit

“The Reduction of budget deficit is a good indication of good fiscal management.”

            Budget deficit is defined as an excess of expenditures over revenues.  In the blog posted under http://services.inquirer.net/search/gws.php?radiobutton=web&searchkey=manila+bulletin&Submit2=GO, the writer is very positive the way things are going in the Philippines.  Im not saying that the writer is a pro GMA but the way things are written, its very obvious that it is a pro government write up.  The facts that were discuss were generally true and we need  those positive things to somehow boost the confidence of the Filipino people.

            Among the things were discuss are Foreign debts, Employment and Corruption.  With regards to Foreign debts, the appreciation of the peso could still not be achieved if there was no efficient fiscal management. These are the facts that I want to share with you regarding the blog. “During Ramos time, there were influx of OFW remittances yet the foreign debts keep going up. The dollar was at one time weak, yet the peso could not beat the dollar. So, what we are seeing now is a result of better handling of foreign debts. Actually, GMA should have been on the worst situation since she inherited big foreign debts from past administration. She had to worked on the double to pay up debts and at the time increase government spending without ruining the budget.”

            With regards to employment, the writer is writing a positive view towards job availability.  “Well, there is plenty of job opportunities today. Every now and then, more and more jobs are being offered during job fairs. Every day more jobs are being created. There is only a scarcity of qualified applicants. Hanjen alone need 4000 welders, and a thousand other job categories. Yet only few can be hired. What about the thousands of bpo demand for qualified workers? If there are many who remain jobless or poor, I believe these people should try their best to help themselves because there are opportunities waiting for them, either as workers or as small entrepreneurs.”

            The corruption in the Philippine government is really part of our daily lives as Filipino. The writer on the other hand has another point in discussing this. “Until today, I still have to hear another Clarissa Ocampo testifying against GMA. Nobody has come forward and give facts on amount of money plundered, identify bank account where the stolen money is deposited and present paper trail leading to GMA as the culprit. It’s easy to accuse GMA of corruption but proving it is another thing.”  This was written before the Jun Lozada ZTE scandal. I don’t know how will the writer react if ever she has another blog regarding the issues.