How Debt is Making The Philippines Rich

Debt is often mistreated as a notorious scheme. However, we often forget about the fact that it is responsible for many of a country's growth.

Narrated by Tom Mckay
Video Edited by iyanbriandi

Timestamp(s):
0:00 Leveraging Debt
1:53 The Debt Impact
4:34 The Debt Fear
7:54 The Debt Growth

Brought to you by the Behind Asian Team.

[BehindAsia]

The fear of debt is often due to mismanagement and corruption. However, as times have changes, do you think it now stands as a beneficiary for the Philippines? Let us know down below!

[katribo]

Because of our history, we Filipinos don't like debt, but due to the pandemic, our government needed to borrow money to keep our economy generating. In the midst of the pandemic, our government became busy building a lot of infrastructure, giving a lot of jobs, and saving a lot of people from being jobless. The COVID hit us hard, but thanks to good governance, they did so well. Of course, corruption cannot be avoided in any government, but there have been significant improvements in governance in the Philippines... There are so many projects everywhere, and I think all these projects are created too, not just to help or ease the burden of Filipinos but to generate big income or tax for the government of the Philippines . For example, the subway in capital areas allows thousands of people to pass through or travel every day in these particular areas in shorter times, not including those from the provinces who travel to the capital city, so the government is not just creating projects but following blueprints of a plan that can lead or help the country economically.

[rrbarcelo]

It's about us Filipino! We have the powers to help our country, every project of the government will benefits our future if we correct our way of living and help one another. Don't tolerate scamming and stealing, teach our kids better understanding of good living and keep them safe and smart so everyone will rise as our country.

[MetalpigTV]

Debt is a debt.. both good and bad, it all depends on how the borrower/gov't leverage it or put 'debt' in good use :)

[joelremegio]

The secret is why Philippines is one of the growing country in Asia because majority of Pilipinos do not deposit money in banks. They get money abroad just to buys cars, houses in the Phils. Such culture has lead to economic progress because the revenue collection goes directly to business sector rather to the bank.

[Zharque]

Please ban comment bots, thank you. Great video.

[TjohnBL]

Because of the 1986 event, many of the infrastructure that was supposed to drive economic growth was halted. It was the year where we were supposed to open the bataan nuclear plant and announce to the world for foreign direct investments to put shop in the country.

[ocirej]

the good thing that is happening now is that we feel and see with our own eyes the changes promised by the previous government. we are now using modern infrastructure like world class airports, bridges, and roads.. the beauty of it is that we can sleep deeply because we know that a large part of the money spent on modern infrastructure did not come from loans from foreign countries.. go Philippines..!

[jetbabs]

We're striving, God bless our Country 🇵🇭

[tgifriday]

Without a doubt, subway train will generate too much income due to humongous population and labor force in Metro Manila.

[keitogamingyt]

the projects that were built using the borrowed money are supposed to be generating money for the government but instead, the past administrations either stopped, paused, or abandon these projects and some became private, and now corruption runs through Philippine Politician's Blood and I wish it will stop soon enough or at least be minimized and corrupted politicians should be banned from their position and cannot go back to their position if caught, and I think they should focus more on fighting corruption instead.

[markscar]

Be mindful that the coming days will be a debt free Philippines with enough surplus to help other countries all over the world.

[jesusdelapena]

Debt is good if it is used in infrastructures such as bridges and roads to hasten economic activities and job creations. Revenues of the gov't and private sectors will eventually increase substantially. However, must watch or be alert of wastage of this resources due to corruptions and mismanagement.

[filipinocanadavlog]

Debt is good if you invest it like buying properties or land 5-10yrs later the price of your land will be triple or do capital to business. Debt is bad kung ibibili ng luho or buying liabilities

[jerolvilladolid]

25% of working age Filipinos are overseas. Thats 10 million people, the highest proportion of any country. The economy of the Philippines depend on their remittances, not on local industries. Whatever “debt” the country has doesnt matter. What matters is the economy of the US, Europe, and how much money these nurses and caregivers can send home.

[archanajha]

After yese 2020, corona pandemic, almost all countries are having huge debt.

[IanRivera]

the biggest question is "are those infrastractures that is thought to be used to generate income, actually generate income?"

[BatAskal]

Filipinos should set their priorities straight everytime during election. Y'all should be demanding jobs instead of paying attention to their drama. Yes, we are all educated but then WHERE and WHAT are you going to work to make a living once school is over?

[BeiClass]

Most people in PH are ignorant of this fact. When they hear DEBT, it's always a bad thing. They'd rather run their mouths instead of trying to know the benefits of such. They didn't know that most of the amenities they enjoy until today came/funded from these so called DEBT.

Luckily, we have another Marcos for President. Hopefully, he will continue what his late father did good.

[carlomalabanan]

I bet you a lot more Filipinos are ignorant about this topic and will keep saying debt is evil