President Abnoy, announced that he’s cancelling the Ro-Ro, flagship projects of PGMA. Knowing President Abnoy, he’s allegic to anything PGMA. The bad thing is, we could be sued at the international courts because of this breach. President Abnoy however said that he’s willing to be sued. He did not even consider the monetary consequences of his acts. It may not have occurred to him that we’re a third world country and money should be better spent on important stuff. Litigations could drag on for years even after his term ends and it would entail cost to the country. Being sued is not a win win situation for us since win or loss, we’ll still gonna lose.
His penchant for cancelling legitimate contracts entered into by previous administration has already affected the investor’s confidence in our country. No investors in their sane mind are now willing to invest in our country. Our constitution does not help either because it prohibits investors to invest in our country. Having the notoriety to cancel legitimate contracts is not a good indication.
I thought President Abnoy is an economics major. For obvious reason, he never learned economics from his former professor, PGMA. When an investment enters our country, it will affect the lives of the people. Economic activity will increase since if people have jobs, their purchasing power increases. The money is then circulated. That will benefit not just the investors but people, businessmen and the government as well since it will also generate taxation.
Okay lang sana if he has an alternative project in mind but unfortunately wala. He did not even have an economic master plan. His government is also under spending that made the economy slow down. I don’t want to be alarmist but I think we’re doomed. The yellows elected President Abnoy but we’ll sink and swim with him. If another mediocre President is elected on 2016, God help us!
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