Aquino’s economic growth as real as ‘Breaking Dawn’ – Anakbayan

THE youth group Anakbayan compared the 7.1% increase in the Philippines’ Gross Domestic Product (GDP) to the controversial movie ‘Breaking Dawn 2’, noting that both were ‘works of fiction’ and ‘belongs in the Fantasy section of the library’.

“The claim that ordinary Filipinos are benefiting from the supposed 7.1% GDP increase is as real as vampires and werwolves” said Vencer Crisostomo, national chairperson of Anakbayan.

“Real economic growth will spark increased development in other sectors of the economy, thus creating a chain reaction, and a self-sustaining cycle. But this is not the case today in our country” said Crisostomo.

He pointed out that the GDP increase was fueled mainly by ‘external’ sources such as foreign investments, OFW remittances, and the BPO (business process outsourcing) sector, sectors which do not contribute to growth in essential areas such as manufacturing and agriculture.

He compared the 7.1% figure for the 3rd quarter of 2012 to the latest Social Weather Station (SWS) survey which pegs unemployment at a record-high 29.4% in the same period of time. Last August, another SWS survey showed that 47% of all Filipinos rated themselves as ‘poor’.

“What is happening is we are creating some jobs in a few sectors alone. Not only is our supposed economic growth limited in scope, we remain vulnerable to the effects of economic ‘shocks’ in foreign countries like in 2008” said the youth leader, citing the ‘Black September’ stock market crash in 2008 which led to a worldwide recession, and lay-offs of hundreds of thousands of workers in the Philippines.

“Noynoy Aquino deserves a ‘Worst Actor’ award because his performance and acting is simply unbelievable” the youth leader said.

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