Driven by a strong performance in the fourth quarter, the Philippine economy surged to 6.1 percent growth last year. Despite the natural calamities that battered the country, many were surprised when the economy swelled 6.9 percent in the last quarter from 6.3 percent in the same period in 2013.
Its strong performance ranks the Philippines as the fastest growing economy in Asia after China last year. It also affirmed the country's status as the best performing economy in Southeast Asia for the past few years.
According to Socio-Economic Planning Secretary Arsenio Balisacan, the Philippines no longer deserves to be called the "sick man of Asia." "Our economic growth is becoming more competitive with our East and Southeast Asian neighbors," he was recently quoted by the Associated Press as saying.
Well, the statistics are there and even the staunchest critics of President Aquino cannot deny the fact that the national economy has been performing pretty well for the past years under his administration.
However, the government still failed to translate the gains into inclusive growth that benefits the majority. Those in the countryside are still not feeling the effects of the growth because the government lacks the measures that would enable them to play a vital role in the economic revolution.
Because only few have profited from the health economy, the problem certainly lies in the unequal distribution of goods. That is why the poor have a very valid reason to complain about not benefiting from the growth.
Economic experts pointed to the government's failure to implement much-needed reforms in order for the poor to feel the gains, explaining that it is still a long way for the country to attain real growth that benefits even the poorest of the poor.
Since growth has only been limited to urban areas, the task of changing the lives of those in rural areas is really monumental. For one, the lack of modern infrastructure prevents investments from pouring into the countryside.
Unless the government implements pro-poor reforms, those economic gains will continue to be just statistics for the majority.