Economy will improve in a year, 46% of Filipinos believed in survey

·Contributor
·2 min read
A man buys a vegetables from a street stall in Quiapo, Manila on July 5, 2022. A recent survey found 46 percent of Filipinos are optimistic that the economy will improve in a year. (Photo by JAM STA ROSA/AFP via Getty Images)
A man buys a vegetables from a street stall in Quiapo, Manila on July 5, 2022. A recent survey found 46 percent of Filipinos are optimistic that the economy will improve in a year. (Photo by JAM STA ROSA/AFP via Getty Images)

Almost half of adult Filipinos are optimistic that the Philippine economy will improve in the next 12 months, according to a survey conducted by the Social Weather Situation (SWS) on Sunday (July 10).

The survey, conducted on April 19 to 27, 2022, 46% of the population believe that the country's economic situation will improve, while 28% said that it will just stay the same, and only 6% believe that it will get worse.

Meanwhile, the Net Economic Optimism score, derived through computing the economic optimists percentage minus economic pessimists, is at +40 which according to the SWS is “excellent.”

The latest Net Economic Optimism is four points lower than the +44 in December 2021, which used to be “mediocre” at -9 in July 2020 and -5 in September 2020, and “high” +24 in November 2020.

SWS also clarified that Net Economic Optimism is different from Net Personal Optimism, referring to a person’s expectations of the quality of their lives.

“The [four-point] decline in the national Net Economic Optimism score from December 2021 to April 2022 is due to slight decreases in all areas except in Visayas,” the SWS said.

According to SWS, Net Economic Optimism is highest in Balance Luzon, or Luzon excluding Metro Manila, which is at +46, followed by Metro Manila and Mindanao at +43, and Visayas at +18.

The survey firm also said that economic optimism was highest among adults belonging to families who identify as not poor at +54, followed by +39 for those who consider themselves as borderline poor, and +32 among those who belong to families who consider themselves as poor.

“Net economic optimism is higher among personal optimists (+63) than among those who said ‘no change’ (+31) and among personal pessimists (-35),” the SWS added.

The SWS also concluded that the results of this survey is connected to its April 2022 personal optimism survey, which says 44% of Filipinos believed that the quality of their life will improve.

Marvin Joseph Ang is a news and creative writer who follows developments in politics, democracy, and popular culture. He advocates for a free press and national democracy. The views expressed are his own.

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