Information : Philippines is Now ASEAN's Economic Leader

From being the economic basket case of the ASEAN region, the Philippines has made a 180 degrees turn in its economic recovery. For the past years, the Philippine economic status has been continuously upgraded by international economic analysts, and just recently has been upgraded to "investment grade".

According to a report by the the Standard and Poor's (S & P), an American financial  researcher and analyst, the country is now ASEAN's undisputed economic leader.

“The Philippines, which Standard & Poor's recently upgraded to investment grade, has taken over the Asean growth leadership role from Indonesia,” S&P Asia Pacific chief economist Paul Gruenwald said in a new report released Monday. 

Philippine Economy on the Rise

Here's the complete report from Interaksyon.com :

MANILA - The Philippines is now Asean's undisputed economic leader, according to Standard & Poor's (S&P).

“The Philippines, which Standard & Poor's recently upgraded to investment grade, has taken over the Asean growth leadership role from Indonesia,” S&P Asia Pacific chief economist Paul Gruenwald said in a new report released Monday.

Gruenwald said the Philippine economy would grow by 6.9 percent this year, faster than other Asean economies.

According to its forecast, S&P sees Indonesia's gross domestic product (GDP) growing 6.1 percent; Vietnam, 5.3 percent; and Malaysia, 5.3 percent.  The Philippine growth forecast is higher than that for China at 7.3 percent.

A measure of economic performance, GDP is the amount of final goods and services produced in a country.

S&P's forecast for the Philippines' GDP growth this year is at the higher end of the government's target range of 6-7 percent.

The credit rating firm said growth however would slow to 6.1 percent next year before picking up to 6.5 percent in 2015.

Philippine GDP grew 7.8 percent in the first quarter of the year, making it the fastest-growing is Asia.

 “The major Asean economies we cover -- Indonesia, Malaysia, Philippines, Thailand, and Vietnam -- continue to outperform. These economies are more domestically focused than the newly industrialized economies and therefore tend to do better when global growth is sluggish,” Gruenwald said.

For the entire Asean, S&P expects growth of 5.5 percent through 2015.

In making its forecast, S&P expects a rebound in the US economy later this year and in 2014. The Asean forecsat however remains below trend because of flat growth in Europe, which is Asia's biggest trading partner.

Overall, risks to Asia-Pacific growth remain skewed to the downside, S&P said, adding that a slowdown in China will have a ripple effect on Australia, which is the largest supplier of iron, and other economies that export heavily to China.

Two important risk factors are the pace of Chinese investment and real GDP growth, and the strength of the US economic recovery, S&P said.

Afterthought :
With the continuous improvement of the Philippine economy, many Filipinos are hoping that these improvements on the economy would soon also affect and bring about positive changes on the lives of the ordinary citizens of the country. Only then would the majority of Filipinos can restore their confidence in their government which has long neglected them.

Picture Source :
http://uaeexchangeblog.com/
News Source :
http://www.interaksyon.com/business/68009/philippines-has-displaced-indonesia-as-asean-economic-leader----sp
Related Link :
http://www.bloomberg.com/news/2013-05-02/philippines-wins-investment-grade-from-s-p-in-aquino-affirmation.html

History Trivia : Andres Bonifacio Was Not the First Supremo of The Katipunan

If asked who was the first Supremo of the secret revolutionary society "Katipunan" (Kataastaasang Kagalanggalang na Katipunan ng mga Anak ng Bayan), many Filipinos would say : Andres Bonifacio.  No, he wasn't. The fact is: Bonifacio was the third Supremo of the Katipunan. This wrong assumption is maybe due to his being the iconic figure of the Katipunan, and the most controversial among its leaders. Though Bonifacio wasn't the first Supremo of the Katipunan, many historians believed that he  should be recognized as the first President of the country and not Aguinaldo.

The first Supremo of the Katipunan was Deodato Arellano. He was one of Bonifacio's co-founder of the Katipunan, and was also a member of the reform movement La Liga Filipina founded by Rizal.

Katipunan flag

Who is Deodato Arellano?

Deodato Arellano - First Supremo of the Katipunan

Quoted from source :

"Propagandist and first president of the Katipunan, Deodato Arellano was born to Juan de la Cruz and Mamerta de la Cruz on July 26, 1844 in Bulacan, Bulacan.  The family changed their name to Arellano in compliance with the Claveria decree of 1849."

"After taking a course in bookkeeping at the Ateneo Municipal, he worked as an assistant clerk at the arsenal of the military’s artillery corps.  He married Marcelo H. del Pilar’s sister, Hilaria, on April 22, 1877, after his first wife, Paula Rivera, died."

"He joined La Propaganda, a movement that sought political reforms in the country.  It was founded by his brother-in-law Del Pilar and Mariano Ponce.  He was assigned to handle both the dissemination of the group’s propaganda materials and the collection of funds for the members who were based in Spain.  He also made reports on the group’s progress and activities, which he sent to its leaders.  He was assisted in the dissemination work by Del Pilar’s young nephew, Gregorio del Pilar."

"La Propaganda was short-lived.  The money collected to pay for the upkeep of the members struggling for reforms in Spain was allegedly misspent and, thus, the group was dissolved.  To continue La Propaganda’s work, Dr. Jose Rizal decided to establish La Liga Filipina on July 3, 1892.  Deodato Arellano, who was one of the first to respond to Rizal’s cry to unite and organize, was elected its first secretary.  He served under its president, Ambrosio Salvador."

"A few days after the establishment of the Liga, however, Rizal was arrested and detained at Fort Santiago.  On July 7, 1892, Gov. Eulogio Despujol announced his immediate deportation to Dapitan.  That same day, at the house of Deodato Arellano at 72 Azcarraga Street, Andres Bonifacio, a Liga member, gathered together Teodoro Plata, Valentin Diaz, Ladislao Diwa, Jose Dizon and Arellano himself to found an underground association, the Katipunan, whose main goal was to attain not mere reforms but the country’s separation from Spain – national independence."

Source : 

http://www.nhcp.gov.ph/index.php?option=com_content&task=view&id=173

Quoted from source :

"Contrary to popular belief, Andres Bonifacio—though undoubtedly one of the more prominent founders of the Katipunan—was not its first Supremo or the President of the Supreme Council. On July 15, 1892, the members of the Supreme Council were Deodato Arellano (Supremo), Bonifacio (Comptroller), Ladislao Diwa (Fiscal), Teodoro Plata (Secretary), and Valentin Diaz (Treasurer)."

"Unsatisfied with Arellano’s performance as Supremo, Bonifacio later had him deposed, and supported the election of Roman Basa as Supremo on February 1, 1893. The Supreme Council was then composed of Basa, Jose Turiano Santiago (Secretary), Bonifacio (Fiscal), and Vicente Molina (Treasurer)."

"Bonifacio would only become Supremo on January 5, 1894, with Santiago (Secretary), Emilio Jacinto (Fiscal), and Molina (Treasurer). Further reorganization in 1896 led to Jacinto becoming Secretary, and Pio Valenzuela becoming Fiscal."

"The Supreme Council in August 1896, prior to the outbreak of the Philippine Revolution, was led by Bonifacio as the Supremo, with Jacinto as Secretary of State, Teodoro Plata as Secretary of War, Briccio Pantas as Secretary of Justice, Aguedo del Rosario as Secretary of Interior, and Enrique Pacheco as Secretary of Finance."

Source :
http://malacanang.gov.ph/4304-the-founding-of-the-katipunan/

Related Link : 
http://www.interaksyon.com/article/67864/movement-launched-to-recognize-bonifacio-as-first-president