Write a short paragraph about social problem in the Philippines that you think the government needs to prioritize. Use signal phrases to express your opinion.
Philippines: Social Assistance to Poor Households, Support for Small Enterprises Key to Broad-Based Recovery
MANILA, June 9, 2020— Hammered by natural disasters and the Covid-19 pandemic, the Philippine economy is projected to contract by 1.9 percent in 2020. But there are good chances that the country can bounce back in the next two years, according to the World Bank’s latest Philippines Economic Update, released today.
The eruption of Taal Volcano and, most importantly, the global outbreak of Covid-19 including the strict containment measures against the pandemic have led to severe disruptions in manufacturing, agriculture, tourism, construction, and trade, according to the report, titled Braving the New Normal.
In Addition, Affecting millions of households nationwide as well as overseas Filipinos, the cumulative impact of these events on the economy has been broad-based, steep, and deep, halting investment activity, and leading to the lowest consumption growth in three decades. Private consumption growth fell to 0.2 percent in the first quarter of 2020 from 6.2 percent last year. The hotel and restaurant industry suffered the most, contracting by 15.4 percent.
The economic contraction in 2020 will likely cause an increase in poverty. Containment measures have cut off income streams from seasonal wage earners and those engaged in entrepreneurial activities in non-agricultural activities and low-end service jobs, which were the drivers of poverty reduction in recent years.
“During these difficult times, strengthening the capacity of the health care system to control the outbreak while protecting poor and vulnerable households remains an urgent task for the country,” According to Achim Fock, World Bank Acting Country Director for Brunei, Malaysia, Philippines and Thailand. “Similarly, financial support to affected firms, especially small and medium enterprises, to prevent job losses and bankruptcy, can help ensure that the recent shocks do not cause permanent damage to the country’s productive capacity and human capital.”
According to a rapid survey conducted by the government, 77 percent of micro and small firms and 62 percent of medium-sized firms had to close due to the enhanced community quarantines. Those that remained open suffered a 66.5 percent drop in sales.
The growth forecast for 2020 assumes that the containment measures will gradually ease in the second half of the year, and economic activities return in some sectors of the economy. Given income losses and heightened uncertainty, household consumption and private investment are expected to remain weak.
Poverty is a big problem of the society. But, evenhow big is the effect it is making to us, let us not focus too much on that problem. Yes, poverty acts as an obstacle to our education, but it will not last forever. Let us just make an action to beat it. Finda solution. Don't rely too much on others. Work hard. It is important to develop ourselves holistically. Accordingto Deped studying well and focus on your spiritual life-there must be a balance of everything. Love what you do, motivate yourself to keep working hard. Then it's up to us to make our own choices and live by these choices. Afterall, our future is still in our hands. Don't take problems very seriously. Follow what was written and you will see. Time will come and you cannot even notice that you had already escaped from poverty.
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Philippines: Social Assistance to Poor Households, Support for Small Enterprises Key to Broad-Based Recovery
MANILA, June 9, 2020— Hammered by natural disasters and the Covid-19 pandemic, the Philippine economy is projected to contract by 1.9 percent in 2020. But there are good chances that the country can bounce back in the next two years, according to the World Bank’s latest Philippines Economic Update, released today.
The eruption of Taal Volcano and, most importantly, the global outbreak of Covid-19 including the strict containment measures against the pandemic have led to severe disruptions in manufacturing, agriculture, tourism, construction, and trade, according to the report, titled Braving the New Normal.
In Addition, Affecting millions of households nationwide as well as overseas Filipinos, the cumulative impact of these events on the economy has been broad-based, steep, and deep, halting investment activity, and leading to the lowest consumption growth in three decades. Private consumption growth fell to 0.2 percent in the first quarter of 2020 from 6.2 percent last year. The hotel and restaurant industry suffered the most, contracting by 15.4 percent.
The economic contraction in 2020 will likely cause an increase in poverty. Containment measures have cut off income streams from seasonal wage earners and those engaged in entrepreneurial activities in non-agricultural activities and low-end service jobs, which were the drivers of poverty reduction in recent years.
“During these difficult times, strengthening the capacity of the health care system to control the outbreak while protecting poor and vulnerable households remains an urgent task for the country,” According to Achim Fock, World Bank Acting Country Director for Brunei, Malaysia, Philippines and Thailand. “Similarly, financial support to affected firms, especially small and medium enterprises, to prevent job losses and bankruptcy, can help ensure that the recent shocks do not cause permanent damage to the country’s productive capacity and human capital.”
According to a rapid survey conducted by the government, 77 percent of micro and small firms and 62 percent of medium-sized firms had to close due to the enhanced community quarantines. Those that remained open suffered a 66.5 percent drop in sales.
The growth forecast for 2020 assumes that the containment measures will gradually ease in the second half of the year, and economic activities return in some sectors of the economy. Given income losses and heightened uncertainty, household consumption and private investment are expected to remain weak.
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Answer
"Poverty in our Country"
Poverty is a big problem of the society. But, even how big is the effect it is making to us, let us not focus too much on that problem. Yes, poverty acts as an obstacle to our education, but it will not last forever. Let us just make an action to beat it. Find a solution. Don't rely too much on others. Work hard. It is important to develop ourselves holistically. According to Deped studying well and focus on your spiritual life-there must be a balance of everything. Love what you do, motivate yourself to keep working hard. Then it's up to us to make our own choices and live by these choices. After all, our future is still in our hands. Don't take problems very seriously. Follow what was written and you will see. Time will come and you cannot even notice that you had already escaped from poverty.
#CarryOnLearning =)