YOUR BULLETIN OPINIONS — Aim for higher GDP growth; adapt to attain long-term goals

EDITORIAL Aim for higher GDP growth; adapt to attain long-term goals With only one and a half months remaining in 2023, the Marcos administration is pinning its hopes that gross domestic product (GDP) will grow by 7.3 percent year-on-year for the fourth quarter to attain at least six percent, the low end of its growth target of up to seven percent for the entire year. This hopeful outlook was expressed by Socioeconomic Planning Secretary Arsenio Balisacan as he noted that first, the year-on-year 5.9 percent GDP growth in the third quarter of 2023 is a marked improvement from the 4.3 percent growth in the second quarter; and that secondly, the Philippine economy chalked up the best growth performance among Southeast Asian countries that have announced their third-quarter GDP growth: Vietnam at 5.3 percent, Indonesia and China at 4.9 percent, and Malaysia at 3.3 percent. According to the Asian Development Bank (ADB): "Growth slowed down for most economies in Southeast Asia. READ MORE

OPINION Financial literacy for every Juan FROM THE MARGINS by Jaime Aristotle B. Alip, PhD Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. has announced that 65 percent of Filipino households now have bank accounts. Account ownership is a basic indicator of financial inclusion and this jump in account penetration, from 29 percent in 2019, is a big stride in the country's quest for a financial ecosystem that leaves no one behind. Financial literacy is a driver of financial inclusion. Financially literate people make informed financial decisions and support life-transforming goals like saving for education or retirement, using loans responsibly and running a business. Knowing the positive impact of financial literacy on economic growth, the Microinsurance MBA Association of the Philippines (MiMAP) held its first online financial literacy program last Oct. 31. READ MORE

OPINION The barangays as the pillars of local governance METRO MATTERS by Mayor Francis Zamora The barangay is the most basic political unit in the Philippines. Its concept dates back long before the Spaniards came to our country. It originated from the word "balangay", the traditional boat used by early Filipino settlers who built their small communities with an established rule of governance during pre-colonial times. The barangay system as the cornerstone of Philippine society and governance may have evolved through the centuries, but it has maintained its core function of bridging the government to the local communities. Today, there are more than 42,000 barangays across our archipelago. Barangays serve as the building blocks of our country's decentralized local government system, which enables a more effective governance at the grassroots level. READ MORE

OPINION No more excuses THROUGH UNTRUE by Fr. Rolando V. de la Rosa, OP Our seemingly trivial decisions can trigger unforeseen consequences, ultimately leading to either success or failure. Often, it is only in retrospect that we come to comprehend this. As the poet George Herbert wrote: "For want of a nail, the shoe is lost. For want of a shoe, the horse is lost. For want of a horse, the rider is lost. For want of a rider, the battle is lost. So, the war is lost for want of a small nail." One Filipino word that aptly expresses such tragedy is "sayang!" Its English equivalents — "What a waste!" "What a pity!" "Too bad!" or "Oh dear!" — hardly convey the intensity and depth of anguish, regret, and loss that "sayang!" carries. We utter this word while pondering if our life today might have been better had we decided to act differently. Today's Gospel parable underscores this tragedy as it recounts the story of 10 bridesmaids invited to an evening wedding banquet. READ MORE

OPINION Addressing the needs and aspirations of our people through the national budget BETTER DAYS by Senator Sonny Angara The Senate has started its plenary debates on the 2024 national budget. The ₱5.768-trillion proposed budget is the first expenditure plan to be fully developed under the leadership of President Ferdinand Marcos Jr. Similar to this year's General Appropriations Act, the 2024 budget measure was crafted to stimulate growth, slash poverty, narrow the budget deficit and reduce debt, jumpstart the economy's transformation and finally cement our status as an upper-middle income nation. It aims to foster the development of our people through education, health and human capital development. It will fund items such as the Pantawid Pamilyang Pilipino Program (4Ps), our longstanding social amelioration program that is keeping millions of Filipino families from falling into abject poverty;... READ MORE

OPINION Muntinlupa celebrates youth leadership during 2023 Boys and Girls Week SPEAKING OUT by Ignacio R. Bunye In the aftermath of the recent barangay and SK elections, the city government of Muntinlupa officially kicked off the annual Boys and Girls Week on Nov. 6, a week-long celebration designed to provide young students with on-the-job training and exposure to various aspects of local government projects and programs. This year's event, which ran until Nov. 10, proved to be a transformative experience for the participants, as they stepped into the shoes of city officials and learned the ropes of public service. Mayor Ruffy Biazon expressed his enthusiasm for this unique initiative where the city's Little Boy and Girl Officials took the first step in understanding the civil service. He expressed the hope the young students would all be inspired to serve the community, not only in the future but even today, while they are still young. READ MORE

MANILA BULLETIN SPOTLIGHT

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