An Economic Report from the Republic of Noy’s Brain

 By Ben Kritz

In the country which exists inside the mind of Dear Leader Aquino the economic situation is actually pretty good, as he explained in an interview reported by the Philstar yesterday:

The Philippine economy is now focused on “investment-led growth” and is no longer heavily dependent on the remittances of overseas Filipino workers, President Aquino said yesterday.

Say what? Up until now I’ve been saying Peenoy’s elevator doesn’t go all the way to the top floor mainly in jest, but I had no idea it might actually be true.

Read the rest here


  1. I’ve always been a bit skeptical of GDP statistics, even if our statisticians are probably world-class (there’s most likely no profit in “bending” national income accounts).

    but GDP, GNI, etc., don’t necessarily tell the whole economic story. a slowdown in public works can mean that what gets built is less corrupted; or it can mean that the corrupt are “sitting” on projects. we don’t really know, or do we?

  2. i cant comment on benk’s site. for some reason i dont get, he doesnt like me, but for all those AP guys, he seems to be the most reasonable.

    having said that, ben’s big issue is grammar. pnoy said, “we are having” investment led growth, when we arent growing fast yet.

    however, in the same article, pnoy CLEARLY states that “he hopes” the growth materializes; obviously suggesting that the investment led growth is yet to come.

    so i suppose we should expect an interview that happened ” on the sidelines of the awarding ceremonies of the 2011 Bagong Bayani at Malacañang.” should have perfect grammer, be pithy, etc…

    i suppose benk is that smart, that whenever he gets asked to make off the cuff remarks on the economy, he’ll get all the subject-verb relationships perfectly.

    i confess — i can’t do that. i also know many people dont know either.

    by linking to this, do you mean you agree w him, that pnoy should have perfect grammer in off the cuff interview?