CC: Economy Update 1

I started checking on point one: the economy grew over 10 years. Apparently, the figures being referenced were GDP figures. I started to dig and wrote down GDP for Erap, P-noy and GMA. There definitely was a big improvement during GMA's term.

The main question is, where did the economic growth come from? At first I suspected OFW Remittances and Business Process Outsourcing. In pursuit of more data I visited the NSCB site. This is what greeted me:

I almost fell of my chair. P-noy's economic performance is being hampered because he's not spending as much as the previous administration. I'll dispense with the economic debate over pump priming, Keynesian vs monetarist and what not. Here's the point. Government services is recorded when the funds are spent. P-noy is spending less than Gloria. Gloria disbursed more funds out of the national coffers.

Now, how effective was that spending?

Right. I don't know either.

What I do know is that P-noy is cutting cots by using a zero budgeting program. Redundant and ineffective projects are being denied funds. We can suspect there's politics involved, that P-noy is punishing his political adversaries, but that just makes the follow-up question all the more pointed. Does it mean he is spending less on his political allies than Gloria?

So even if GDP did grow, so long as it came from government spending we will always ask if the money was used wisely. The next step would be a check on all the projects done during GMA's term. Did those projects push through and were there any snags? I think I have to leave that path for now maybe until I get my broad answers for the rest of the points.

note: I'm using the acronym CC: Economy for this challenge. Here's my first post for the Citizen's Challenge: Economy

Citizen's Challenge: Economy

He said, She said
The camps of President Aquino and Gloria Arroyo have been trading barbs these past days. The most recent exchange focused on claims of a decline in economic strength. The Gloria camp point to these economic data:

• 10 years of uninterrupted growth despite a global recession. 7.9% growth rate at peak. 
• Low inflation
• a recent rise in self rated poverty in opinion surveys
• foreign investments down by half according to NEDA

(For now, I will ignore the claims about automated elections because it's not directly connected to economics.Perhaps another time we should check on the claims automation drastically helps the elections)

Here's the Challenge

Can an average person actually verify this using only publicly accessible information especially information over the internet? Can we actually get enough data to form the basis for analyzing the economic strength of the country then and now? This means no exemplary effort to gather the data. No calling up buddies in NEDA. No hiring researchers. Definitely no playing golf with BSP personnel!

The point is to see how much access to crucial information is available to the common pinoy. Freedom of information is an important element of democracy. It empowers citizens, allowing them to bring anomalies and errors to light.

The analysis and conclusions may not be as important as going through the process of research.