What the last quarter of 2023 has in store for Filipinos

With 2023 on its last leg, the Philippines faces opportunities and challenges across different sectors. Let’s take a look at some of the key highlights happening in the country.

Public health and environment

One of the recent health and environmental issues in the country is bad air quality. Metro Manila residents have been subjected to pollution-related smog while areas near Taal Volcano experienced volcanic smog or vog. Many school-aged children complained of difficulty in breathing and chest pain while some were admitted to hospitals. The public is advised to stay abreast of relevant health news so everyone can take necessary precautions in case something unforeseen happens again.

A report says that nearly all the respondents they surveyed (98%), have become more mindful of their physical and mental health after seeing how the pandemic has affected every one of us. More than three years after the pandemic struck, many Filipinos realized how hard it is to not be financially ready, especially for those without a health care plan. Pinoys are encouraged to take their preparedness up a notch, so we all get to enjoy the remainder of this year, and our lives.

Transport Technology

As of October 2023, the MRT-7 is roughly 63% complete and is estimated to commence operations in November 2025. Personnel training is also ongoing. Once the rail line becomes operational, the average 2-hour travel time from San Jose del Monte, Bulacan to Quezon City is expected to be reduced to 35 minutes.

Senator Sherwin Gatchalian, the principal author of the Electric Vehicle Industry Development Act (EVIDA) projects the rapid development of the electric vehicle (EV) industry for the rest of 2023, and in the next few years, as the country embraces fuel-free mode of transport to help protect the environment. However, the Senator cited the lack of charging stations for EVs in the country. He called the attention of the Department of Energy (DOE) and the Department of Public Works and Highways (DPWH) to address the shortage. The long-term vision is for the Philippines to go full on electric vehicles by 2040.

Cybersecurity

The recent spike of cyber attacks targeted at major government institutions like the House of Representatives, the Senate, and the Philippine Health Insurance Corporation (PhilHealth), has questioned the country’s cybersecurity measures. Due to the massive data breach that exposed sensitive information, both private and government sectors realized the need for more stringent cybersecurity practices throughout the rest of 2023 and onwards.

The Philippine government issued a proclamation transferring the observance of Cybersecurity Awareness Month from September to October every year.

Economy

According to the Philippine Statistics Authority (PSA), the inflation rate in the Philippines jumped from 5.3% in September, to 6.1% in October. The average inflation rate for this year is at 6.8 %, and the main drivers of inflation are increasing prices of food and fuel.
In October 2023, the Land Transportation Franchising and Regulatory Board (LTFRB) approved a P1 minimum fare hike (from P12 to P13) for jeepneys nationwide to help drivers cope with increasing fuel prices.
The war between Ukraine and Russia continues to disrupt global supply chains and prices of goods and fuel. Furthermore, the depreciation of the Philippine Peso against the US Dollar has made foreign goods and services more expensive.
The Asian Development Bank (ADB) forecasts Philippine economic growth moderation in the last quarter of 2023 due to inflation, before picking up in 2024.

Negative thoughts often fill the head of pessimists and they like to blame themselves when things don’t turn out as planned. They tend to zoom in on the problem and think that bad things are going to happen, which creates stress. Based on studies, pessimistic individuals are susceptible to high blood pressure and heart disease.

Conclusion

The last quarter of 2023 presents new opportunities and challenges. Rethinking strategies and being proactive can help Filipinos take the right steps forward.

Sources:

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