Category: Economy

Changes in Bicol # 5

Unlike before the 1991 Local Government Code (R.A. 7160), local government units (LGUs) nowadays have an automatic budget allocation called the internal revenue allotment popularly known as IRA. According to Section 285 of the LGC, the share of each LGU on the IRA is determined by the following formula: a. Population - Fifty percent (50%); … Continue reading Changes in Bicol # 5

Iriga City: Inch by inch towards development

Slowly but surely. This could be the best description one can give on the development efforts of Iriga City's local government unit headed by Mayor Madel Alfelor-Gazmen. Looking for an historical note on Iriga, I found Frank Penones's article Iriga's Colonial Economy. Frank narrated how Iriga's economy started from purely agriculture-based economy such as growing … Continue reading Iriga City: Inch by inch towards development

VAT-Man: The Dark Days

Even before the movie “Batman: The Dark Knight” is officially shown in Philippine theaters, the Arroyo Government, intentionally or not, already has its own version of the story. The title – “VAT-man: The Dark Days”. The film will start rolling when former senator Ralph Recto assumes the directorship of the National Economic and Development Authority … Continue reading VAT-Man: The Dark Days

The Economics of GMA’s Cheap Rice Distribution Program

To help the poor cope up with the increasing prices of food products particularly rice, the Arroyo Administration, through the National Food Authority (NFA), has instituted the selling of the P18.25 and P25 rice per kilo. But is the government really helping the poor or is it just worsening poverty? Angela is a first year … Continue reading The Economics of GMA’s Cheap Rice Distribution Program