The Philippine Online Chronicles

The latest survey by the Social Weather Stations (SWS) showed an overall decline in ratings of personal and economic optimism of Filipinos as many believe their lives have worsened under the administration of President Benigno Aquino III in the past year.

According to the SWS survey conducted from March 4 to 7 and first published in Business World, “Optimism has diminished among Filipinos, although overall those who are bullish about their personal lives and the economy continue to significantly outnumber defeatists.”

Thirty-five percent of respondents said their lives would improve in the next 12 months, while 11 percent said they did not see their lives improving.

From a ‘very high’ optimism ratings in November 2010 of +35 (42 percent optimistic, 7 percent pessimistic); the March survey recorded a net personal optimism score of plus -24 (optimists minus pessimists) or an 11 percent decline.

According to the report, optimism about the economy also declined, with only 27 percent saying they were optimistic about the economy in the coming year, while 24 percent were pessimistic, for a net optimism rating of plus -4 (correctly rounded). This was also down from the plus -30 (39 percent optimists, 8 percent pessimists) posted in November.

Thirty-six percent of respondents said “their lives had worsened (losers) while 23 percent said it had improved (gainers), for a net-gainers-and-losers score of minus -3 -- again also lower than the minus-5 score (25 percent gainers minus 30 percent losers) in November.”

“Net personal optimism dropped in all areas except in the Visayas, where it increased by three percentage points to plus-33, while it fell in Luzon outside Metro Manila (by 21 points, from plus-38 to plus-17), in Metro Manila (by 11 points, from plus 41 to plus 30), and in Mindanao (by 7 points, from plus-32 to plus-25).”

Dipping satisfaction, rising hunger and poverty

The survey result came after a 13-point dip in the approval ratings of President Aquino and an increased hunger incidence of 4.1 million families and 20.5 percent self rated poverty rating.

Malacanang said the optimism survey results were expected due to the timing when the poll was conducted. Presidential Communications Operations Secretary Herminio Coloma Jr. said the rapid increase in oil prices that is a global phenomenon was not experienced last year.

He added that "more citizens are affected by the impact of these external events," even the class ABC who despite their greater capacity to absorb economic shocks may be "more cautious in their risk-taking, as investors and entrepreneurs."

He said the government is considering options to mitigate the impact on the public of continuing oil price hikes.

Starting May, the government will distribute discount SIM cards for the Pantawid Pasada program that will give P450,000 fuel subsidy to selected public utility drivers and other vulnerable sectors.

But consumers groups said the Pantawid Pasada is not even enough to cushion the impact of steadily rising fuel prices.

Oil prices increased again this week by P1.50 per liter or a cumulative P8 price hike since January. Transport groups are poised to spearhead another round of protests after Labor Day to demand a rollback in oil prices and the repeal of Oil Deregulation Law.