Earl James G.

Reyes
3DLM

1. Economic

In its latest report, the economic analysis unit of Moodys said Philippine gross
domestic product (GDP) has the potential to grow between 5.3-6.5 percent this year,
lower than last years 7.2 percent and the governments target of 6.5-7.5 percent for
2014.
GDP is the amount of final goods and services produced in the country, and as such
measures economic performance.
Moodys Analytics said the damage from Typhoon Haiyan (local name: Yolanda) will
likely weigh on the countrys growth in the first half of 2014 as the recovery effort is
expected only in the latter part of the year.
Similarly, our 2014 forecast for Asia is broadly unchanged, although weak first
quarter data have accentuated downside risk. GDP growth for the full year will be
below potential, particularly if the first quarter undershoots, but we expect growth
to accelerate in the third quarter, nearing potential rates in most of the region by
year's end, Glenn Levine, Moodys Analytics economist.
Our forecast is for regional growth near five percent in the second half of 2014,
compared with a bit above four percent in the opening half, with most at potential in
2015, he said.
Our government should also focus more on double-digit underemployment and
poverty, inclusive growth.

2. Political

The government has been bombarded with the 10-billion pork barrel scam which
has decline the trust of the public. With embezzlement of billions of pesos from the
Priority Development Assistance Fund, known as the pork barrel. Each year, the
government used to give each of the 24 senators 200m pesos ($4.6m) from the pork
barrel, and each of the 290 congressmen 70m pesos. They were meant to spend it on
development projects. The effect was to pocket millions of pesos for personal gain
and funneling money from it to bogus NGOs, which would then give kickbacks to
politicians. Last year the Supreme Court struck the so called pork-barrel
unconstitutional.



3. Social

The number of unemployed Filipinos in the last quarter of 2013 swelled to more
than 12 million, making the 7.2-percent growth in the countrys gross domestic
product (GDP) last year, considered the second-fastest after China, far from
inclusive.
The unemployment rate rose to 27.5 percent, or an estimated 12.1 million
individuals, as 2.5 million Filipinos joined the ranks of the jobless between
September and December, a Social Weather Stations (SWS) survey found.

The Philippines has the highest unemployment rate among members of the
Association of Southeast Asian Nations (Asean), according to a report of the
International Labor Organization (ILO) published in 2014.
The Philippines registered an unemployment rate of 7.3 percent as of 2013,
according to the Global Employment Trends.
Ranking just above Philippines is Indonesia with 6 percent, the study found.
Neighboring Asean countries Brunei has 3.7 percent, Burma, 3.5 percent); Malaysia,
3.2 percent; and Singapore, 3.1 percent.
The countries with the lowest unemployment rates are Vietnam, 1.9 percent; Laos,
1.4 percent; Thailand, 0.8 percent); and Cambodia, 0.3 percent.
Almost 202 million people were unemployed in 2013 around the world, an
increase of almost 5 million compared with the year before, the ILO said in the
executive summary of its report published January 2014.

4. Cultural

The modernization of technology has geared, associated and touched the cultural
aspect of our generation. It can be seen through our architecture, how we interact
with people and how we communicate as well.
References:

Heydarian, R (2014, January 5). Three challenges for the Philippines in 2014.
Retrieved from https://ph.news.yahoo.com
(2014, June 28). The government is accused of bias in fighting corruption. Retrieved
from www.economist.com

Burgonio, M (2014, March 20). Philippines to lead Asian economic growth in 2014 --
Moody's Analytics. Retrieved from www.interaksyon.com

(2014, May 1). PH has he highest Asean unemployment rate. Retrieved from
Inquirer.net