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Sunday, June 16, 2024

Each Filipino is P127,000 in debt

As country’s international & domestic borrowings increase

MAASIN CITY – “From womb to tomb”, each Filipino, from those just born up to our senior citizens have a debt of over P127,000 each, and it keeps on growing.
This was revealed during the regional launch of “The Wednesday Forum” at the College of Maasin (CM) last January 18, which topic was the “Prospects of 2023”.
The forum’s guest speaker, human rights lawyer and former congressman Atty. Neri Colmenares, revealed that there has been an alarming trend in the increase of the country’s foreign and domestic debt due to constant borrowings, that has ballooned to P13.64 trillion or $246.34 billion.
Economic think tank IBON foundation has released similar findings last year as it said that the debt per Filipino in 2022 has already amounted to at least P112,678 if the national debt is divided among 26.3 million families that year.
Colmenares also informed that there are reportedly 8 proposed bills in Congress hoping to change again the present Constitution in order to extend the terms of national and local elective positions. According to Colmenares, these proposed laws if realized would extend the term of local elected officials from 3 years to 5 years, and possibly remove term limits.
When asked during the open forum “why are we poor?”, Colmenares said “We are poor because we don’t produce enough what we need, we produce more of what other countries need” and “Once we produce and focus on what we really need, then we will stop being poor.”
Forum reactor Atty. Aemilda Madredijo, Dean of CM College of Law said in her reflection, “It seems that Juan Dela Cruz is being left behind” and later “moves to change the constitution again must strictly follow the process provided by the Constitution, and be ratified by the people themselves.”
Forum reactor, Environmental Conservationist Ms. Teza Ramos in her reflection said, “We have become apathetic and have stopped to act on the ills of our community and help for the needs of our people” and “we must start again to being empathetic, to do more, give more.”
Forum reactor, Ms. Anabelmar Ordiz, WEPIC President of the IFI Church said “If we who are below remain silent, corruption will remain as the cancer of our society, a sickness that thrives on inaction and because of which has no cure.”
The Wednesday Forum (TWF) that was established in 1973, was founded by the late Senator Jovito R. Salonga to generate an enlightened Filipino community and continuous to be committed in building a better and freer society. The next leg of TWF will be held in Davao City at the Brokenshire College and in Baguio City. The recent Maasin City leg of the TWF was made possible through the hosting of the College of Maasin through its President Rev. Joshue Zuriel Tiempo.

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