The Philippine peso apparently is gaining strength against the US dollar. Consistently, it became stronger over the past few months. Is this a sign that the Philippine economy is improving? Does this make the average Juan dela Cruz happy because the purchasing power of the peso has gone up?
Economists say that the Philippine economy is not growing, in fact, the average Filipino cannot really feel the benefits of a truly stable economy. Majority of the Filipinos remain poor. What makes then the Philippine Peso strong? The weak U.S. dollar makes the peso strong. The Philippine economy is not growing. It is still basically the same. It's the U.S. dollar which is getting weaker and this makes the peso apparently strong.
1 comment:
when peso is stronger against the usdollar it doesnt mean that philippines is improving at all. it is even disadvantageous to more filipinos considering that higher earning filipinos rely on the dollars for food, education, shelter and other basic needs. the government is trying so much to stabilize the peso helping the rich richer and the poor poorer.
Post a Comment