Bagong Pilipinas: Where art thou?
President Bongbong Marcos Jr. ended his State of the Nation
Address (SONA) with the concluding statement: “Dumating na po
ang bagong Pilipinas.”
The President did not further explain what is “Bagong Pilipinas”
and what is his basis in saying that it has arrived.
It is almost undisputed that the President showed eloquence in
delivering his SONA. But excellent delivery is not the purpose of this
exercise.
The SONA is delivered by the President of the Philippines every
year in fulfillment of a constitutional duty. The Chief Executive
reports on the state of the country, unveils the government’s agenda
for the coming year, and may also propose to Congress certain
legislative measures.
President Marcos counts on the inspiring trend in growth rate
and improving inflation rate as the underlying economic
fundamentals of his administration in the ensuing year.
On a macro level, the growth rate and inflation rate indeed
show signs of recovery from the pandemic. With zero or negative
growth rate as the benchmark of the incumbent administration that
inherits a ravaged economy, any positive change will always look
good.
There is, however, a significant economic indicator that many
leaders would not mention at all. This is referred to as the Gini
coefficient which is the most common way of measuring inequality
or the gap between the rich and the poor.
While the growth in the economy is noteworthy and inflation
has seemed to stabilize, the country’s Gini coefficient remains high
at 59%. What is happening now is growth without development.
Without meaningful intervention to close the gap between the
rich and the poor, the growth in the economy will deepen inequality
and have dangerous socio-political consequences that could
undermine the very essence of freedom and democracy.