In the past years, we could analyze how the different administration regulates our

economy. Philippine government has been continuously struggling to prosper globally. However,

having different forcing points and pressures in our country are kind of hindrances to gain

success. This is the reason why government needs to implement better macroeconomic policies

which need to be pursued.

In the Philippines, government are trying different mixes of macroeconomic policies that

would cushion the different forces from local and foreign countries. Some of the current pressure

points that deserve careful monitoring according to Sicat G. (2019) are, inflation, net

expansionary stance of government spending programs, and the peso exchange rate. On the other

hand, we are currently experiencing the effects of our economic problems and issues that

somehow cannot resolve immediately by these policies. As I observe from different environment

like school, malls, street, public markets, and other, people cannot move on basically due to

monetary constraints.

The dramatic increase of prices is one of the certain results of some of our policy. In the

market, almost all products have increased their prices and this is due to the recent tax reform

which is the TRAIN Law. This action of the government contributes to the burden suffered by

the consumers. For instance, as a consumer, some of us cannot afford to buy meats and other

products because of its higher prices. Even the fares in public vehicles have increased that’s why

sometimes we tend to walk instead of taking a cab. However, in brighter view, it still helps to

sustain government funds which enable them to produce projects and public services.
 In terms of our imports, we have decreased our traded products due to import policy. The

rice importation program has amendments to establish rules and regulations in accepting and

processing rice imports which is govern by the National Food Authority. This issue is somehow

good because we could limit in buying foreign products thus, patronize our own products. I don’t

see this as a problem since we are rich in agricultural resources. However, it will become a

problem if we will experience calamities like El Niño and La Niña that will result to destruction

of our crops and eventually lead to scarcity. This shortage of supply will bring higher prices

again in our rice.

The exchange rate is another pressure for our government. Maybe our President Rodrigo

Duterte was correct in blaming President Trump for increasing US rate that results to pushing up

Philippine interest rate. Otherwise, Philippines would decrease foreign investments and transfer

to other country. This would result to lesser dollar supply in our economy which weakens peso

and eventually worsen inflation. In current exchange rate, 1 dollar is equal to 52.71 Philippine

peso which during the time of Marcos rule year 1950, 1 dollar is only 2 pesos. It reflects that

from then up to now, the Philippine peso is decreasing its value. Actually, as we realised, if we

go to market, our money can buy lesser products unlike in the past whereas 1 peso was very

important already and can use to buy food.

Another force in our economy is the expansionary public spending. Today, the

government aims to expand and build infrastructures in our country. These projects are supported

by the Build Build Build program which is designed for the investments in these public

infrastructures. This action of the government is said to be a solution for the high unemployment

rate and poverty. They believe that if we have more infrastructures, there will be greater

opportunity for the Filipinos to get a job. Some of the projects are the Subic Clark Raillway,
North-South railway, 1,500-hectare industrial park in Clark, Pampanga and other. These really

help us to improve our economic status however; it is undeniable that the funds are not sure in

the hands of the politicians. The intensive monitoring for this program is necessary to ensure

transparency, accountability, and prudent use of loans and other financing methods as stated by

Gatchalian.

We have different macroeconomic policies which have different roles in sustaining our

economy. As the demand or the necessity to have certain things in this world increases, we need

to secure the sustainable growth and continue to develop until our country will be part of the

richer countries. In the current issue of the West Philippine Sea, the government needs to fight

for our territory. We need to have policy that will buffer this issue and limit other countries to

benefit from our own resources. As I read different articles about projections in the Philippines,

the authors said that our country will be ranked as 16th richest countries in the world and it will

happen if we will use properly our reserved resources. So, this issue on the West Philippine Sea

is very essential to resolve and not let China get that territory from us.

As a student, I am aware of our different economic issues. I am very interested with these

topics because I have care for our future state. Actually, I salute the macroeconomic policy

makers because they are trying to have changes in policies just to get new and better product. It

is very tough decision for them because they are responsible for the outcome of these policies.

However, it is really inevitable to have negative effects especially when there are outside factors

that worsen our economy. On the other hand, despite of everything, we just need to know that in

order to get better results; we should not do the same things better—find better things to do.