The Standard and Poor's (S&P), an American company which is a trusted authority on worldwide financial market research, recently upgraded the Philippines from a "BB" to a "BB+" rating. Although this is still one notch below the investment grade, it indicates stability. The Philippine economy is gaining ground amidst the global financial crisis.
I have witnessed how the stock charts rose to the 5,200 level early this year and now, during the first week of July, the Philippine Stock Market has been hitting new record highs at the 5,300 level. It is even expected to reach the 5,500 level by the end of the year. Exciting days ahead!
The Bangko Sentral ng Pilipinas (BSP) also reported that the Philippine Peso is the strongest among Asian currencies this year. As of July 2, the Peso has appreciated by 4.3% against the US dollar. The Singaporean dollar came in second at 2.7%. Our local banking industry is performing very well. Savings deposit alone has increased by 9% and demand deposits went up by 12%. Total bank savings and time deposits rose to 4 Trillion Pesos in the first quarter of 2012.
Yes, the market trends are up. Inflation is at its lowest. There is a stronger hope for the Philippines --- a positive outlook for the financial future of Juan Dela Cruz.
As the numbers on these financial disclosures continue to attract the attention of both local and foreign investors, for most Filipinos, these are just numbers. There's no far better indicator of progress than one's personal financial stature. How can Filipinos, regardless of their income bracket, get to experience and appreciate this emerging economy?
Rather than just relying on speculations on how our economy is going to sustain this performance with the next couple of months (or years), seek financial advice from a trusted friend, have a chat with your bank manager / financial advisor, or read blogs and articles on business and personal finance. Be in the know of good investment opportunities suitable for your financial capacity. Information is available to those who find time to seek for it. A deeper understanding of how growth on a macro level can impact you as an individual will definitely help in your journey to upgrade your family's way of living.
Successful investors all did start from somewhere. Discipline is the key. At this point, it doesn't really matter how big or small your startup is. The boldest action you'll ever have to do is "to start". Start investing for a brighter future.
