The Philippine
government is
planning to give out cash incentives and tax reliefs in anticipation of the forhtcoming
U.S. economic depression. They say that the Philippine economy is resilient and can pass through this. The present Bicol governor Mr. Salcedo, a trusted and economic adviser of the President, Gloria Macapagal Arroyo, said that the best way to give help is by directly giving cash to the people. The middle class will be the one to be benefited down to the lower class. However, the budget
secretary Rolando Andaya wasn''t that optimistic about the plan because there are a lot of things to consider like the same plan was put in action last 1999 but it failed, putting the Philippines'' inflation up and considering where to get the money for fundings.
This news surely is a good news for most of the Filipinos but the budget secretary has a point in saying to take it by stride not in a haste. It needs careful planning and many things to be considered. The
government should make plans for other safety nets when United States of America''s economy crashed.