RevGov--Masking Underperformance

Based on intel, President Duterte yesterday reportedly gave his "informal" blessing on the event this November 30, birthday of the Supremo, Andres Bonifacio.

Several sources reveal that organizers of the November 30 event assured members of the League of Municipalities that their grassroots organizing had the blessing of the President. The presence of Mr. Duterte yesterday gave enough confidence for those local officials to mobilize their individual local funds for mobilizing people in support of this event.

Why are close associates of the President, hell-bent on pursuing this enterprise which the President himself denied ever suggesting and yet, always mentioning in his speeches, even yesterday?

First assumption: Duterte's under-par performance

Going to his second year in governance, and still, Mr. Duterte has not delivered anything substantial for the country. His supporters are convincing us that there are already changes that are happening one and half years past. And I asked---where?

As far as I'm concerned, I read that the economy is on the verge of overheating, according to the IMF. Local economists say we lag behind our neighbors in terms of foreign and local investments. The local bourse is sometimes, on the rise, but most of the times, down. Many banks have reported that the peso is the least performing currency in ASEAN.

As a father, what I am seeing is a worrisome retail environment. With rising costs of goods and services, many are limiting their times eating out or buying clothes and other amenities. Rising gasoline and diesel prices have likewise, impacted on mobility and therefore, tourism. I am sure that the situation of our local tourism sector remains deplorable not because of our DOT officials who are doing their earnest best promoting our country.

Yes, our food stocks are okey but if you look closely, most goods available in the market are imported stuff from ASEAN countries mostly. Our local manufacturers and entrepreneurs are actively competing with others for a market whose buying capacity is slowly diminishing due to inflation. Supply is present and demand too. Yet, the buying capacity of people have substantially decreased due to inflation and the peso-dollar exchange rate.

There is some promise by next year thru the tax reform bill, yet, this will surely benefit the rich instead of the poor. Yes, local firms are to be taxed more, and the poor are to be taxed less. Yet, those extra pesos will inevitably be spent in the retail sector, and it will not be too much, because prices of goods will likewise shoot up, as the rich manufacturers will just factor their extra taxes in their retail prices. Will that improve the lives of people and allow them more social mobility? I believe things will remain the same except those who are super rich who will benefit more in this than the middle class.

The middle class, then, will be the ones to be severely hit by the expected economic crunch. Are there safety nets for us?

Duterte must learn economic lessons experienced by his predecessors.