Philippines' foreign currency reserves hit record-high ...

@FT: Fast Asia Open: Philippines balance of payments, Thailand forex reserves https://t.co/R3TYPLU3RP

@FT: Fast Asia Open: Philippines balance of payments, Thailand forex reserves https://t.co/R3TYPLU3RP submitted by -en- to newsbotbot [link] [comments]

INDIA NEEDS TO CURB ITS OIL DEPENDENCE TO REALISE RENEWABLE ENERGY GOALS

INDIA NEEDS TO CURB ITS OIL DEPENDENCE TO REALISE RENEWABLE ENERGY GOALS
India’s efforts at realising green energy targets are facing an incredible challenge with its growing dependence on fossil fuels. The country has already become the 3rd biggest oil consumer in the world and predictions highlight India to become one of the two largest fossil fuel consumers in the world (consuming nearly 50% of global oil demand). Although, initiatives in policy reformation, building manufacturing sector and infrastructure development are leading India’s renewable energy mission, country’s oil dependence has to be curbed to truly realise green energy transition.

https://preview.redd.it/n0j4ae3oq8551.jpg?width=768&format=pjpg&auto=webp&s=afe313350143df0cedc94ea3c35dce6485036c60
The Scenario
Dependence on oil increases the forex outflow, which could have been invested towards a speedier green energy adoption that promises to save billions on fossil fuel imports, create jobs, improve export demand, and restore climate degradation.

https://preview.redd.it/4bewllyjq8551.jpg?width=600&format=pjpg&auto=webp&s=7b6db5f0995ad0591059008391d1e5a8b6436cf7
Additionally, rising crude oil prices (from $39.9/per barrel in April 2016 to $56/per barrel in December 2019) clearly explain the urgency for green energy transition immediately. However, India has been consistently increasing its oil imports (importing more than 80% of its oil needs), spending $87.7 billion in 2017-18, $111 billion in 2018-19, while the cost is expected to reach at $112.7 billion in the current fiscal. Even recent agreement with the US to reduce India’s overwhelming dependence on West Asian members of the OPEC grouping, we have to point out that it will give rise to India’s oil imports by 42%, curbing attempts at bringing sustainability.
Time to Realign Policies
In 2015, our Hon’ble Prime Minister Shri Narendra Modi had promised to work towards cutting India’s oil import dependence by 10% by 2022. However, country’s oil dependence has only increased so far. And as per the predictions of International Energy Agency, India’s demand for oil is expected to reach more than nine million barrels a day by 2040 and the country’s dependence on oil imports will rise to 90% in twenty years.
It is easy to understand that with the oil consumption growing in India, it will impede the growth of renewable energy, especially solar.
Current electricity demand in India is nearly 178 GW. Although India’s total installed energy capacity is 365 GW, and the country is spending billions upon billions in oil, there is a consistent deficit in energy supply (-0.6% in 2018-19). Factoring in fossil fuel’s limited reserves and rising cost, it is easy to understand that the deficit will only rise. This invariably indicates that shift to green energy is the right decision for India.
Focusing On the Bright Side

https://preview.redd.it/7761scbgq8551.jpg?width=600&format=pjpg&auto=webp&s=6504ec779f592d37eb3de7b4a97cb8ef02b7c043
The future is about security and sustainability. It is easy to understand that oil dependence does not translate into that at all. Understanding the scenario, even oil economy run countries like Saudi Arabia are investing in the green energy transition. As the developed countries are moving towards green energy transition, developing countries are not far away from making positive changes to get out of the binds of depleting fossil fuel industry. For example- Brazil, South Africa, Chile, Philippines are making huge investments in solar energy adoption.
In such a scenario, where India’s energy demand continues to rise (with population), depending on fossil fuel will only damage the country’s economy further.
On the other hand, solar power is showing great promise in offering power to all, while saving money in the long run. By building solar manufacturing capacity within India, the country can effectively be free from the binds of fossil fuel, create green energy jobs and attain energy security while generating revenue through exporting solar equipment.
It is the right time to make the changes that will lead India towards growth. The opportunity is right in front of us and all we need is to opt for sustainability to realise a brighter future.
Source:- https://www.vikramsolar.com/blog-india-needs-to-curb-its-oil-dependence-to-realize-renewable-energy-goals/
submitted by vikramsolarpower to u/vikramsolarpower [link] [comments]

ABOUT THE WIB TOKEN

Wibson is a Blockchain based decentralized data marketplace that gives individuals chance to securely and safely exchange data in a way that the data economy has never seen before because of the added transparency, security and decentralization. This is made conceivable because of the use of blockchain technology. A technology that makes ecosystems in which inside frameworks based on blockchain are empowered by smart contracts which are installed in advanced code and put away in a straightforward and shared databases, in these data bases the agreements are shielded from correction altering and erasure shaping the fundamental premise of what blockchain technology offers which are transparency, security, decentralization and furthermore distributed exchange which made conceivable using cryptocurrency.
The WIB token is an example of cryptocurrency categorized as a utility token due to its uses on the WIBOSN decentralized marketplace. WIB is built on Etherum blockchain and it aids all activities on the Wibson platform. Token information Token Name: WIBSON Token Token Symbol: WIB Decimals: 9 Platform: Etherum Network Token Type: ERC-20 Total Supply: 9,000,000,000 WIB
Coin Super and Bitforex Listing For WIB After the completion of the WIB token sale, WIB was initially listed on Coin Super exchange. However the journey does not end there Wibson token (WIB) is as of now acknowledged for trading on the BitForex exchange. Bitforex is an advantage trading platform headquartered in Singapore with work environments in Germany, Estonia, Hong Kong, Malaysia, and the Philippines, similarly as various countries, and is given to giving customers ensured, capable and supportive propelled cash trading organizations. Bitforex gives two-factor approval (2FA) and IP disclosure on login to guarantee that simply the normal customers can gain admittance to reserves.
Website: https://www.wibson.org
Bounty0x username: Alisheik
submitted by enesi0171 to ico [link] [comments]

$29,148.20 (11.9%) in PayPal & Middlemen Fees YTD2014 (PROOF Inside) - why BTC must succeed!

This is insane! We always knew that PayPal fees were high but until we calculated it today... this is insane - we processed $245,301.46 of sales so far this year through PayPal and the fees come out to be $29,148.20!
The "normal" PayPal fees were $11,256.86… The "hidden" PayPal FOREX fees were $5,626.26… The Seller Platform fees were $12,265.07… Total = $29,148.20…

The Analysis

Let's delve deeper. The advertised PayPal fees were $11,256.86. We are incorporated outside of the US just fyi and this turns out to be 4.6%. Ok I can still live with that.
The ridiculous part is the FOREX fees of $5,626.26. Since we serve US customers we process in USD so as soon as we figured out that there are FOREX fees we were ready to outsmart PayPal and use our multi-currency account to withdraw to USD rather than to the local currency!
But unless you have a bank account in the US, PayPal COCK-BLOCK you from withdrawing to USD and you HAVE to withdraw to the local currency so they can hit you w/ hidden additional fees!
And then the seller platform. We'll keep them nameless because they do provide a decent service and we know the owners but still 5% is yet another huge chuck.
We also have a 90 day reserve, so we have to wait 3 months for $45K USD to pay suppliers and staff (all philippines based, via paypal where they get hit w/ more fees)

The Retaliation

We just came out with a new eCommerce Adult Toy Shop and decided that we will ONLY accept Bitcoin with this business and any new business endeavor!
-PayPal's not getting a cut… -The bank's not getting a cut… -No one's going to interfere, we will keep all proceed as btc… This is why Bitcoin will succeed there are a ton of businesses like ours who are fed up with huge cuts and processing times.
And for redditers we're giving free shipping for the next 48 hours to anyone who buys $100+ worth of toys - the code is tothemoon: https://btctoyshop.com

The $29,148.20 of PROOF

Check out our monthly PayPal statements and our tally: http://imgur.com/a/r5iJy
TLDR; We were shocked to discover we paid $29,148.20 USD this year in fees already just to to receive money. Paypal has us on a 90 day reserve before they will give us our money.
submitted by btcshops to Bitcoin [link] [comments]

About intellishare


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TOKEN DISTRIBUTION

Reserved for Mining: 26%Reward Feedback to the Community: 30%Angel Investment: 14%Reward for the Tech Team: 10%IntelliShare Foundation: 20%
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Technical Theory
News
IntelliShare Monthly Update:
On March 31, the “2019 China Business Leaders Forum and the 2nd China Blockchain Billboard Annual Festival” was grandly opened in Beijing....
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IntelliShare Monthly Update:
The first round of the new official website airdrop was officially opened on March 30, ending at 10:00 on May 1, 2019 (GMT +8). The opening date for new users’ withdrawals is 10:0...
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The Opening Notice of the Fi
The first round of the new official website airdrop was officially opened today, ending at 10:00 on May 1, 2019 (GMT +8). The opening date for new users’ withdrawals is 10:00 (GMT...
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【Announcement】Notice on th
Due to the upgrade of the official website registration system, the old and new system data will not be interoperable, the old system data will be cleared, and all old user data wi...
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IntelliShare Cooperates with
IntelliShare will create the INE Macau Consumer Ecology with Macau's largest living platform, AOMI, and open a system for INE deduction in Macau!...
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IntelliShare Monthly Update:
The term of IntelliShare’s first China Regional Autonomous Committee has ended. IntelliShare community adheres to the spirit of consensus, follows the mode of community autonomy, ...
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IntelliShare(INE)will be l
Official announcement! IntelliShare(INE)will be launched on BitForex at 15:00, on March 11 (GMT+8). INE/USDT and INE/ETH trading pairs will be available....
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【Announcement】Debi and EXX
Due to IntelliShare’s application for public chain debugging, DeBi exchange will temporarily close the INE withdrawal at 18:00, Feb. 25(GMT +8). EXX exchange has not yet announced...
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IntelliShare Monthly Update:
Events: On January 6th, IntelliShare won the GBLS Global Blockchain Annual Technology Value Application Award. Project co-founder and CFO Nicholas Wan was invited to attend the GB...
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IntelliShare Opens the "Thir
On December 18, 2018, IntelliShare co-founder and CFO, Nicholas Wan went to the Philippines and signed a strategic cooperation agreement with the ASYA Pacific Foundation on behalf ...
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Welcome two new technical ad
Welcome two new technical advisors to join IntelliShare team....
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【Announcement】Official Web
In order to make it easier for users to participate in the co-construction of IntelliShare and eliminate malicious false registrations, the IntelliShare airdrop overseas community ...
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IntelliShare Monthly Update:
According to the IntelliShare road map: Q4 in 2018, INE will be launched on 2-4 digital asset trading platforms. In order to achieve this goal, the IntelliShare Community Autonomou...
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IntelliShare Christmas Airdr
Happy Christmas & Happy New Year to everyone!IntelliShare Christmas airdrop will begin from 0:00, Dec.25–0:00, Jan.1(UTC/GMT -5). Welcome to join us !...
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Where can IntelliShare Mesh
IntelliShare builds a dynamic and constantly expanding network architecture that uses innovative technologies such as multi-frequency mobile networking, anti-attenuation multi-hop,...
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Development Process and Road
2015 Q1 The development model of Mesh network was proposed for the first time; Q4 The Mesh network technology professional team was formed in Shanghai Pudong Software Park to di...
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Dr. Xiao Feng: Distributed N
He holds a Ph.D. in Economics from Nankai University and has over 18 years of experience in securities industry and asset management. He once served as deputy director of the Secur...
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Distributed Network Communit
What is the distri
submitted by shamim1001 to airdrops [link] [comments]

(Reboot) ELI5 on how China fucked their own economy, chapter 6

OK Yesterday's HCFTHE was a big let down. I read on the next few chapters and I feel like there's no more point in translating anymore because the author's coherence is slipping.
This is a reboot. From here on, it's all cruise speed. No translating, it's all me!
(Translated) Chapter 1
(Translated) Chapter 2
(Translated) Chapter 3
(Translated) Chapter 4
(Translated) Chapter 5
Chapter 6: RMB internationalization, a dream? a future?
RMB internationalization. You've heard of RMB. We all have, the legend, the curses. Some foolishness about a currency that never devalues. A closed currency. Buried beneath an opaque monetary policy... a bald, aging portrait of Mao luring investors to their dreams. An illusion that you can begin again, change your fortunes. Issuing them, though, that's not the hard part. It's internationalization.
(Sorry been playing A LOT of fallout. Production is down 50% because half my office are gone and the other half...are playing with me. Seriously, fuck Chinese New year.)
Except for the face culture, RMB internationalization is pretty much a national goal of China. To have their currency achieve global status will make it a rival currency for the USDollar, much like the Euros...except it's Asian. An Asian euro is crucial for China to establish its asiaphere influence zone. Having China enter IMF's basket of currencies is just a first step.
Before we talk about "how", let's talk "why". Why is it important for RMB to go global. For this we will need a deep understanding of world economics, but to dumb it down to ELI5 levels, we'll simplify it down as following:
World domination.
Wow wow wow holy fuck upads what the fuck!? This escalated quickly!
Sorry, but this is a fact. The British Pound, once served as the world's premier reserve currency, shaped the British Empire where the sun never. In fact, UK still hold [14 overseas territories[(https://archive.org/stream/09LONDON1039/09LONDON1039_djvu.txt), and the sun never sets on all fourteen British territories at once. Glory to the queen!
OK let's double time, here's a short list of goals that RMB internationalization can help achieve:
  1. Debt. Chinese companies have a lot of debt in USD. As of right now China don't want RMB to devalue because it would make debts harder to pay.
  2. Getting rid of forex risk. Self explained.
  3. Exports. With all China's debts in RMB there will be no consequence in devaluing the RMB. Will you pay $400 for a Huawei smartphone? No? How about $100? Cheaper price, it helps boosts sales volume. A lot.
  4. Getting rid of language barrier. If you look up most common language on harmony it lists Chinese with the most number of speaker s in the world, followed by Spanish, then English. Guess what language is most common in the business world? English. Guess what language does world reserve currency countries speak? English.
  5. Getting rid of autistic monkeys ESL teachers. Having RMB as a global currency will help China demand their business partners to start speaking Chinese, giving China home field advantage. The reason ESL teachers are needed is because China needs to do business in English. Seriously why the fuck do I need to learn English if I'm not gonna do business?
  6. Better politics. With foreign languages kicked out of their curriculum, the Chinese population can spend more time learning useful things, such as how to worship the communist party Seriously, learning how to think politically is a mandatory subject in high school curriculum, as well as gaokao.
  7. Better economics.
Now on the spot light. Everyone who are asking me to talk about silk road start reading here.
Right now, China is in a tough spot with their overproduction problem. Here's a flow chart, from the start to now:
  1. Steel industries fighting to get into the market
  2. Too many steel suppliers leads to overproduction
  3. One steel suppliers try to eliminate competitions by driving prices down.
  4. Every steel supplier does the same.
  5. Prices eventually go so low, sales price is lower than production price.
  6. Every steel suppliers are now religions, praying their competitions will go bankrupt first so they can one day dominate the market.
  7. CCP cracks down on religion, prayers not answered. Steel suppliers now in the negative, have to borrow money from banks.
  8. Banking regulations stats they can only lend money to suppliers who are in business, i.e. have production and sales. Nobody can sack their workers and nobody can let their workers sit idle because it is also against the law to have idle workers.
  9. Death spiral: Lending leads to production, production leads to loss, loss leads to lending.
China is not as stupid as you think. They know how supply and demand works. They did not foresee the death spiral because there is no precedent. In normal cases supply-demand imbalance even out naturally by supply side shutting down due to lack of profit. But this is China. Steel makers are not investing their own money in the business, they are getting their source of funds from the government are. They do not care if their factories do not turn a profit. Afterall, it's not their own business.
"China is different." Damn right you are. China is the only country in the WTO whose majority of the population lacks independent thinking. The Chinese hierarchy system...it's a convenience. It tells you where to go, what to do, dulls your brain. The party wants us to make steel, I make steel, you make steel, everyone make steel! Everyone apply for a job for the steel making industry and everyone get subsidy from the government! Everyone drive down prices and everyone borrow money! Because the party says we need to make steel.
To fix this death spiral, China needs a larger demand, and if they cannot create demand among themselves, they have to create demand among foreign countries...and there is no way in hell the Americans and Europeans will accept Chinese quality steel.
So, turning their eye to Iran, Pakistan and other developing countries. Cue the one belt, one road protocol. Here's their pitch, dumbed down:
China: Do you want GDP? Do you want groooowth? Learn from us! Build bridges! We can sell you steel at half price! Not like greedy Europeans.
Really, that's it. Building infrastructure is one of the fastest way to bump your GDP, even if they end up useless later on. If China can sell their steel to those countries, they can effectively get rid of a lot of overproduction, maybe even evening out the supply-demand imbalances with the increase in demand!
Two obstacles here.
These developing countries have their own currency, and their other currency is in the form of foreign exchange, in USD. Foreign exchange risk still applies here. Secondly, because they are developing countries...often they don't have the money.
The solution: lend them money. With RMB. Through the Asia Infrastructure Investment Bank. This is going to kill 3 birds with one stone.
  1. Provide capital...provide a means to demand for things. The steel makers can now make a sale, easing oversupply problem finally.
  2. Weaken USD status, strengthen RMB status. Take loan out in RMB, repay with RMB...except you don't have RMB in your reserves. You take your USD from your foreign reserves, and exchange for RMB, because with closer ties with China supplying your every needs, there is no reason to be keeping those USDollars. Although AIIB says it's going to offer USD, Euro and RMB, you bet your ass that they are going to offer some very good conditions on taking loans out in RMB...the potential of further devaluation of RMB is already very attractive, I wonder what else they can add.
  3. Debt settlement. China can now use your USD to repay your debt (fun fact: AIIB lending terms are on a 3 year basis, so they will be collecting their USD in 2019----Guess when the majority of China's foreign debts are due? 2020. Their timing is just perfect).
  4. Positive cycle: Initial lending leads to sales of steel, sales of steel leads to infrastructure building, infrastructure building leads to more sales of other materials, which leads to more lending...the whole cycle leads to weaker USD status in these countries and strong RMB status.
Whew! That's a lot of research! Now that we got the AIIB out of the way, one belt is partially explained but to those who don't get it, high speed rail uses a lot of steel, and is considered infrastructure.
Now that we've got AIIB and one belt under the belt, the last that remains: one road. This is when I'm going into /conspiracy level shit talking and I'm sure I'll be generating a lot of downvotes, so I'll keep it skippy. Here's a list of problems are facing that can be solved with one road(sea silk road):
  1. Over production
  2. Economy focused along shorelines
  3. Dependency on natural resources from hostile foreign forces.
Here's how one road will help them solve these problems:
  1. Trade to solve overproduction, already mentioned above.
  2. Give China an excuse to exercise more controls on the sea, such as the entire South China Sea.
  3. This is the most important. Control of sea routes will allow China to prioritize their freight routes over other countries. While SCS is going to be free, it will be "free with Chinese characteristics". Freights from China are going to flood the SCS and take up a lot of queue space in sea routes shared with other countries, namely Brunei, India, Indonesia, Japan, Korea, Malaysia, Philippines, Taiwan, Phili, Indonesia, Taiwa, Vietnam, etc. If you have ever tried queuing with the Chinese, you know how this will end.
  4. Fuck yeah.
submitted by upads to China [link] [comments]

Daily Market Overview 10 August 2018

Daily Market Overview 10 August 2018
US
Technology weaknesses damage the S&P 500 for the third consecutive session, and concerns about regulation and trade continue to depend on the most efficient market sector. A day after Internet stocks led the group below, semiconductor inventories were lagging behind. Micron Technology shares fell after Baird analysts lowered their target price for shares, while KLA-Tencor, Lam Research and Applied Materials were also among the worst performers of the S&P 500, with each of the four companies declining by at least 5%.
Oil futures
Oil prices in the US fell sharply after a weekly report showed that oil stocks in the US are already beginning to grow when the summer ends, and the season of falling demand is lower. Light, sweet oil for October supplies fell 1.4%, to close at 67.77 a barrel on the New York Mercantile Exchange. The Energy Information Administration reported that crude oil inventories fell 4.3 million barrels last week.
Forex Trading
The popular measure of the US dollar has slightly retreated insubordinate action with a focus of investors, partially recorded this week in the US labor market. US economic data, published the day before the last report on the workplace, including a daily snapshot of employment in the private sector of ADP for August.
Asian Markets
Earlier in the day, Asian stocks were generally lower on the second day, as buyers continued to wait for the reasons for the purchase. Perhaps this will happen from the report of jobs on Friday in the US. Until then, investors seem to be going to put some money on the side, caused by 1% drops overnight in Europe. Reserves in Hong Kong and the Philippines fell by more than 1%. But the drop in Japan, South Korea, and Singapore was less than 0.5%, while the Indian Sensex was essentially flat and stopped the six-day losing streak.
Read more: https://www.facebook.com/294693984421347/photos/a.295490831008329/321603471730398/
https://preview.redd.it/p4klcggepdl11.png?width=700&format=png&auto=webp&s=d7af11ff228ed0a819dd5c6e891409e54d019b02
submitted by Markets-Cube to u/Markets-Cube [link] [comments]

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submitted by ShaRey2016 to NetworkMarket [link] [comments]

[Meta] Unofficial Philippines budget 2030

[M] Custom budgets are apparently no longer allowed, but I'm posting this anyway as it has useful information.
PHILIPPINES BUDGET 2030
GDP: $732,426,545,940
GDP growth: 4.25%
Population: 130,417,780
Population growth: 1.72%
GDP per capita: $5616.00
Revenue: $139,161,043,729
Revenue as % of GDP: 19%
SPENDING OF REVENUE:
Department of Education: $22,500,000,000 (16.16% of budget)
Department of National Defense: $18,500,000,000 (13.29% of budget)
Department of Health: $16,500,000,000 (11.86% of budget)
Department of Public Works and Highways: $15,500,000,000 (11.14% of budget)
Department of Interior and Local Government: $10,250,000,000 (7.37% of budget)
Department of Social Welfare and Development: $9,250,000,000 (6.65% of budget)
Department of Agriculture: $3,750,000,000 (2.69% of budget)
Department of Finance: $3,750,000,000 (2.69% of budget)
Department of Transportation and Communications: $3,750,000,000 (2.69% of budget)
Department of Science and Technology: $2,750,000,000 (1.98% of budget)
Department of Environment and Natural Resources: $2,750,000,000 (1.98% of budget)
Energy Transition Plan: $8,000,000,000 (5.75% of budget)
Debt servicing: $10,600,000,000 (7.62% of budget)
Foreign Exchange Reserve Deposit: $11,311,043,729 (8.13% of budget)
New Gross Debt after payments: $0
Debt as % of GDP: 0%
Spending of foreign exchange reserves from 2029:
$2,761,000,000 exchanged for gold
$11,311,043,729 deposit from budget
New foreign exchange reserves: $22,831,506,753
Gold reserves: 1402.2 tons
Due in part to the continued Chinese recession as well as the lowering of taxes, the budget has remained stagnant from 2029, sparking concerns that continued Filipino growth may not be something to take for granted. President Cojuango has downplayed criticisms, noting that the Energy Transition Plan is finally complete and will free up funding that he vows to redistribute appropriately.
At the same time, the Philippine has achieved enough gold to match the value of its predicted narrow stock of money, M0, allowing for the rebuilding of the nation's dramatically depleted foreign exchange reserves. Though the gold itself largely deters currency attacks, the Chinese recession has made it harder for the Philippines to maintain a positive trade balance, giving higher priority to forex account deposits than what had originally been intended.
Growth rate modifiers are decaying by 0.05 per year. 6.0% as base growth as a fast developing nation + 0.20% residual growth for FLNG upgrade + 0.10% residual growth for previous FLNG upgrade - 2.15% due to Chinese recession + 0.05% residual growth from industrial stimulus plan + 0.05% increase in construction/tech sectors from large PNET project
submitted by varianlogic to Geosim [link] [comments]

[Budget] Philippines budget 2037

Class IV Budget
Category Percentage Allocated Funds
Department of Education 18.82% $39,000,000,000.00
Department of Health 14.24% $29,500,000,000.00
Department of National Defense 10.62% $22,000,000,000.00
Defense Research & Procurement 1.59% $3,300,000,000.00
Department of Public Works and Highways 10.38% $21,500,000,000.00
Department of Social Welfare and Development 7.72% $16,000,000,000.00
Department of Science and Technology 7.48% $15,500,000,000.00
Department of Interior and Local Government 6.03% $12,500,000,000.00
Department of Agriculture 4.10% $8,500,000,000.00
Department of Transportation and Communications 3.14% $6,500,000,000.00
Department of Finance 2.65% $5,500,000,000.00
Department of Environment and Natural Resources 2.17% $4,500,000,000.00
Energy Transition Plan 3.86% $8,000,000,000.00
Sulu Tunnels 5.90% $12,228,571,428.00
Foreign Exchange Reserve Deposit 1.28% $2,659,014,369.57
New foreign exchange reserves: $55,361,722,130
Maximum Gold reserves: 1724.5 tons
Maximum M0 : 3,443,646,823,000 PHP
These two values exist in an undefined equilibrium due to the gold standard. Some portion of the printed PHP is temporarily out of circulation after being exchanged for gold, and likewise some portion of the gold reserves is currently circulating in the economy. With growing forex reserves and no balance of payments crisis in the foreseeable future, it is unimportant to establish the exact figures.
The Sulu Tunnels megaproject has made a notable impact on both the budget and on economic growth, leading some to worry about a construction sector bubble that may have accumulated over the past decade. Nevertheless, the NPC maintains that the situation is sustainable, believing that there are enough remaining growth-generating infrastructure projects in the Philippines to sustain construction sector employment through 2055 when it is hoped that a space infrastructure boom will occur.
Separately, raw materials and mining income from Zimbabwe is expected to begin the following year, and President Lakian has suggested that some of the money could be diverted to further FLNG development off the shore of Papua New Guinea.
Growth rate modifiers are decaying by 0.05 per year. 5.0% base growth as a developing nation (that has reached $7500 GDP/capita) + 0.05% estimated increased trade due to original CPS treaty + 0.25% from huge contracts to build MNET-ENet-CNet across most of Latin America + 0.35% long term growth in construction sector from Sulu Tunnels project.
submitted by varianlogic to Geosim [link] [comments]

[Budget] Philippines budget 2040

Class IV Budget
Category Percentage Allocated Funds
Department of Education 18.83% $46,000,000,000.00
Department of Health 14.12% $34,500,000,000.00
Department of National Defense 9.82% $24,000,000,000.00
Defense Research & Procurement 1.47% $3,600,000,000.00
Department of Public Works and Highways 10.03% $24,500,000,000.00
Department of Social Welfare and Development 7.78% $19,000,000,000.00
Department of Science and Technology 7.57% $18,500,000,000.00
Department of Interior and Local Government 5.32% $13,000,000,000.00
Department of Agriculture 3.89% $9,500,000,000.00
Department of Transportation and Communications 3.27% $8,000,000,000.00
Department of Finance 2.76% $6,750,000,000.00
Department of Environment and Natural Resources 2.66% $6,500,000,000.00
Energy Transition Plan 3.27% $8,000,000,000.00
Sulu Tunnels and Friendship Tunnel 5.97% $14,598,571,428.00
Foreign Exchange Reserve Deposit 3.23% $7,904,003,992.31
Spending of foreign exchange reserves:
$1,660,000,000 to South Africa for purchase of gold
New foreign exchange reserves: $69,901,928,766
Maximum Gold reserves: 1921.0 tons
Maximum M0 : 3,836,033,160,000 PHP
These two values exist in an undefined equilibrium due to the gold standard. Some portion of the printed PHP is temporarily out of circulation after being exchanged for gold, and likewise some portion of the gold reserves is currently circulating in the economy. With growing forex reserves and no balance of payments crisis in the foreseeable future, it is unimportant to establish the exact figures.
2040 represents the first year that the plan to grow the physical money supply at a rate greater than inflation goes into effect, similar to the continued policy of increasing government revenue for all departments at a rate greater than inflation. Support for the gold standard also got a large boost as the Eurasian Federation has announced its intention to follow the policy. President Lakian comments:
"The first large industrial nation has joined the gold standard effort, meaning that it is entirely conceivable that the world's supply of gold will be consumed for the purpose of currency. This places current users of the gold standard - the Philippines, Maha Tai, Papua New Guinea, and Cambodia - in a very strong position as our gold reserves are proportionately much larger compared to other nations for the size of our economies. We will have the option to either maintain the standard if the world economy is unstable, or if it remains stable we can sell the gold at a large profit due to its scarcity."
Growth rate modifiers are decaying by 0.05 per year. 5.0% base growth as a developing nation (that has reached $7500 GDP/capita) + 0.10% from huge contracts to build MNET-ENet-CNet across most of Latin America + 0.40% long term growth in construction sector from Sulu Tunnels and Friendship Tunnel projects - 0.05% in land development due to significantly higher costs for building new homes
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[Budget] Philippines budget 2043

Class IV Budget
Category Percentage Allocated Funds
Department of Education 17.69% $50,500,000,000.00
Department of Health 13.49% $38,500,000,000.00
Department of National Defense 9.02% $25,750,000,000.00
Defense Research & Procurement 1.35% $3,862,500,000.00
Department of Public Works and Highways 9.55% $27,250,000,000.00
Department of Social Welfare and Development 7.53% $21,500,000,000.00
Department of Science and Technology 7.53% $21,500,000,000.00
Department of Interior and Local Government 5.08% $14,500,000,000.00
Department of Agriculture 3.85% $11,000,000,000.00
Department of Transportation and Communications 3.33% $9,500,000,000.00
Department of Finance 2.63% $7,500,000,000.00
Department of Environment and Natural Resources 2.63% $7,500,000,000.00
Energy Transition Plan 5.87% $16,749,000,000.00
Sulu, Friendship, and Solomon Tunnels 6.02% $17,198,571,428.00
National Battery Banks 2.63% $7,500,000,000.00
Foreign Exchange Reserve Deposit 1.80% $5,149,692,203.46
Spending of foreign exchange reserves:
$1,660,000,000 to South Africa for purchase of gold
New foreign exchange reserves: $54,472,379,969
Maximum Gold reserves: 2223.8 tons
Maximum M0 : 4,440,687,887,000 PHP
These two values exist in an undefined equilibrium due to the gold standard. Some portion of the printed PHP is temporarily out of circulation after being exchanged for gold, and likewise some portion of the gold reserves is currently circulating in the economy. With growing forex reserves and no balance of payments crisis in the foreseeable future, it is unimportant to establish the exact figures.
Since 2040, the inflation-adjusted value of all physical money has risen 7.5%, relieving the predicted cash shortage to an unknown extent.
As predicted, budgetary stability has returned and foreign exchange reserves are once again on the rise. As the rate of gold imports continues to increase, there are those who point to projections of the government potentially spending $20 billion annually on the policy in the 2060's to suggest that a 1:1 gold standard:physical money ratio will eventually need to be lowered to 1:2 in line with the policy of Maha Tai and the Eurasian Federation.
President Orongan has brushed off criticism by observing that gold panners introduce 18 tons of gold per year into the Philippine economy - suggesting the mineral is still widespread - and that sourcing gold from Africa rather than domestically was an intentional choice to allow for low-cost domestic extraction in the future. She also made a remark that many found unsettling:
"The PSPK gold stash was substantial, and it is far from the only large stash of gold hidden away in the Philippines. A series of specific individuals or their descendents with ties to the Marcos regime will be approached by our intelligence services to offer partial legalization of their illicit funds - American bearer bonds excepted - in exchange for the physical gold in the next few years. While I will not embarrass myself with an estimate, I will say that I am optimistic about the potential for this program."
Growth rate modifiers are decaying by 0.05 per year. 4.5% new base growth + 0.35% long term growth in construction sector from Sulu Tunnels, Friendship Tunnel, and Solomon Tunnel projects + 0.05% from Third Energy Transition Plan
Population growth rate still frozen until next season when I can come up with a better model :/
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[Budget] Philippines budget 2042

Class IV Budget
Category Percentage Allocated Funds
Department of Education 18.03% $49,000,000,000.00
Department of Health 13.61% $37,000,000,000.00
Department of National Defense 9.20% $25,000,000,000.00
Defense Research & Procurement 1.38% $3,750,000,000.00
Department of Public Works and Highways 9.66% $26,250,000,000.00
Department of Social Welfare and Development 7.63% $20,750,000,000.00
Department of Science and Technology 7.36% $20,000,000,000.00
Department of Interior and Local Government 5.15% $14,000,000,000.00
Department of Agriculture 3.86% $10,500,000,000.00
Department of Transportation and Communications 3.31% $9,000,000,000.00
Department of Finance 2.67% $7,250,000,000.00
Department of Environment and Natural Resources 2.67% $7,250,000,000.00
Energy Transition Plan 6.16% $16,749,000,000.00
Sulu, Friendship, and Solomon Tunnels 6.33% $17,198,571,428.00
National Battery Banks 2.76% $7,500,000,000.00
Foreign Exchange Reserve Deposit 0.23% $612,722,703.83
Spending of foreign exchange reserves:
$1,660,000,000 to South Africa for purchase of gold
New foreign exchange reserves: $50,922,687,765
Maximum Gold reserves: 2117.9 tons
Maximum M0 : 4,229,226,559,000 PHP
These two values exist in an undefined equilibrium due to the gold standard. Some portion of the printed PHP is temporarily out of circulation after being exchanged for gold, and likewise some portion of the gold reserves is currently circulating in the economy. With growing forex reserves and no balance of payments crisis in the foreseeable future, it is unimportant to establish the exact figures.
As expected, economic growth is beginning to slow, but as of yet it has not conflicted with the tradition of expanding all budget categories at a greater rate than inflation. The Orongan administration predicts that foreign exchange reserves will begin to rise again starting next year, and remains optimistic about regional economic stability due to the peaceful Japanese annexation of Karafuto.
In light of these positive indicators, President Orongan has indicated her desire to proceed with the funding for the underwater habitation and research complex with New Zealand, Papua, and the Solomon Islands - widely considered to be an alpha stage to gather data for a future station on Jupiter's moon Europa in the 2060's or 2070's. A meeting will be arranged shortly with all involved parties to discuss the proposed direction of research during what will likely be a lengthy construction period.
Supporting this endeavor, the government has released a short teaser video demonstrating a hypothetical modification to Japan's Hachimann Landing System which includes a large ice drill. Though conditions continue to improve within the Philippines, the pace may be less than satisfactory for those on the bottom rung of society, and by promoting such long-term visions for the nation the government hopes to stifle potential unrest, especially in light of the growing popularity of the People's Action Party.
Growth rate modifiers are decaying by 0.05 per year. 4.5% new base growth + 0.40% long term growth in construction sector from Sulu Tunnels, Friendship Tunnel, and Solomon Tunnel projects + 0.10% from Third Energy Transition Plan + 0.05% growth in agriculture sector
Population growth rate frozen until next season when I can come up with a better model :/
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[Event] Foreign exchange reserve diversification

As the new gold mines begin operations this year, the government has seen it as an appropriate time to discuss the future of the foreign exchange reserves of the Philippines.
After a lengthy discussion of the current status of the global economy, especially regarding the Chinese-American tensions, the Senate has approved by a large majority the Forex Diversification Act.
The government of the Philippines will be mandated to purchase all 36.1 tons of annual gold production occurring inside the country's borders using its foreign exchange reserves until the nation's total gold reserves reach 650 tons, at which point the policy will be up for review.
Should a financial crisis strike, in this case being defined as any event which causes gold to appreciate more than 35% within a quarter, the Senate will convene an emergency session to vote on whether to temporarily suspend gold purchases and whether or not to instead attempt to sell gold for a profit.
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[Budget] Philippines budget 2041

Class IV Budget
Category Percentage Allocated Funds
Department of Education 18.38% $47,500,000,000.00
Department of Health 13.83% $35,750,000,000.00
Department of National Defense 9.29% $24,000,000,000.00
Defense Research & Procurement 1.39% $3,600,000,000.00
Department of Public Works and Highways 9.77% $25,250,000,000.00
Department of Social Welfare and Development 7.74% $20,000,000,000.00
Department of Science and Technology 7.45% $19,250,000,000.00
Department of Interior and Local Government 5.22% $13,500,000,000.00
Department of Agriculture 3.87% $10,000,000,000.00
Department of Transportation and Communications 3.29% $8,500,000,000.00
Department of Finance 2.71% $7,000,000,000.00
Department of Environment and Natural Resources 2.71% $7,000,000,000.00
Energy Transition Plan 6.48% $16,749,000,000.00
Sulu Tunnels and Friendship Tunnel 5.65% $14,598,571,428.00
National Battery Banks 1.93% $5,000,000,000.00
Foreign Exchange Reserve Deposit 0.28% $728,036,294.67
Spending of foreign exchange reserves:
$1,660,000,000 to South Africa for purchase of gold
$14,500,000,000 for geothermal plant renovations
$2,500,000,000 for National Battery Banks program
New foreign exchange reserves: $51,969,965,061
Maximum Gold reserves: 2017.1 tons
Maximum M0 : 4,027,834,818,000 PHP
These two values exist in an undefined equilibrium due to the gold standard. Some portion of the printed PHP is temporarily out of circulation after being exchanged for gold, and likewise some portion of the gold reserves is currently circulating in the economy. With growing forex reserves and no balance of payments crisis in the foreseeable future, it is unimportant to establish the exact figures.
The new Orongan administration found itself with a major headache in the form of trying to balance a budget while maintaining funding for several large projects. Unfortunately, as the President was more or less thrust into her position by the NPC party, she cannot afford to criticize their spending policies without alienating her political supporters yet.
With the prospects of slowing growth and declining government revenue in the years to come, the Philippines will need to find additional sources of funding if it is to continue its infrastructure megaprojects on schedule while simultaneously remaining debt free and accumulating large amounts of gold.
In a short speech to supporters, President Orongan justified the deep withdrawals from the forex reserves:
"The National Battery Bank network is more than just another piece of infrastructure, and should be viewed as a store of value. Over time we anticipate that an energy-based currency will arise due to the universal applications of electricity, and the Philippines will be at the forefront of developing modular technologies for storage and trade of this commodity."
Growth rate modifiers are decaying by 0.05 per year. 5.0% base growth as a developing nation + 0.05% from huge contracts to build MNET-ENet-CNet across most of Latin America + 0.35% long term growth in construction sector from Sulu Tunnels and Friendship Tunnel projects + 0.05% income from carbon offset program + 0.15% from Third Energy Transition Plan
Also, population growth decay turned out to be way too fast, so I reversed it a bit.
submitted by varianlogic to Geosim [link] [comments]

[Budget] Philippines budget 2036

Class IV Budget
Category Percentage Allocated Funds
Department of Education 18.64% $36,500,000,000.00
Department of Health 14.30% $28,000,000,000.00
Department of National Defense 11.24% $22,000,000,000.00
Defense Research & Procurement 1.69% $3,300,000,000.00
Department of Public Works and Highways 10.47% $20,500,000,000.00
Department of Social Welfare and Development 7.15% $14,000,000,000.00
Department of Science and Technology 7.15% $14,000,000,000.00
Department of Interior and Local Government 6.38% $12,500,000,000.00
Department of Agriculture 4.34% $8,500,000,000.00
Department of Transportation and Communications 3.19% $6,250,000,000.00
Department of Finance 2.68% $5,250,000,000.00
Department of Environment and Natural Resources 2.17% $4,250,000,000.00
Energy Transition Plan 4.09% $8,000,000,000.00
Foreign Exchange Reserve Deposit 6.52% $12,756,899,503.36
New foreign exchange reserves: $52,702,707,760
Maximum Gold reserves: 1674.3 tons
Maximum M0 : 3,343,346,430,000 PHP
These two values exist in an undefined equilibrium due to the gold standard. Some portion of the printed PHP is temporarily out of circulation after being exchanged for gold, and likewise some portion of the gold reserves is currently circulating in the economy. With growing forex reserves and no balance of payments crisis in the foreseeable future, it is unimportant to establish the exact figures.
Notably, the GDP has finally reached $1 trillion, adding the Philippines to an exclusive club of nations and the largest in ASEAN after Indonesia. With the impending unification of Mueang Thai with Laos and possibly Yunnan, the Philippines will have to work hard to retain this status in future years, though friendly competition is always welcome.
Market confidence has also recovered from the uncertainty revolving around the Chinese occupation in light of the world class mineral deposits uncovered in the Zimbabwean Plateau of South Africa by Filipino surveyors. With a perceived lack of outside interest in mining these deposits, the Philippine government has suggested it may develop a majority of them itself via state capitalism in cooperation with South Africa, potentially offsetting the impact to the budget of decreased taxes as part of ongoing minimum wage reform.
Growth rate modifiers are decaying by 0.05 per year. 6.0% as base growth as a fast developing nation + 0.05% residual effect of market rally from Sabah annexation + 0.10% estimated increased trade due to original CPS treaty + 0.30% from huge contracts to build MNET-ENet-CNet across most of Latin America + 0.05% stock market bump from discovery of vast Zimbabwean riches.
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[Budget] Philippines Budget 2030

PHILIPPINES BUDGET 2030
GDP: $732,426,545,940
GDP growth: 4.25%
Population: 130,417,780
Population growth: 1.72%
GDP per capita: $5616.00
Revenue: $139,161,043,729
Revenue as % of GDP: 19%
SPENDING OF REVENUE:
Department of Education: $22,500,000,000 (16.16% of budget)
Department of National Defense: $18,500,000,000 (13.29% of budget)
Department of Health: $16,500,000,000 (11.86% of budget)
Department of Public Works and Highways: $15,500,000,000 (11.14% of budget)
Department of Interior and Local Government: $10,250,000,000 (7.37% of budget)
Department of Social Welfare and Development: $9,250,000,000 (6.65% of budget)
Department of Agriculture: $3,750,000,000 (2.69% of budget)
Department of Finance: $3,750,000,000 (2.69% of budget)
Department of Transportation and Communications: $3,750,000,000 (2.69% of budget)
Department of Science and Technology: $2,750,000,000 (1.98% of budget)
Department of Environment and Natural Resources: $2,750,000,000 (1.98% of budget)
Energy Transition Plan: $8,000,000,000 (5.75% of budget)
Debt servicing: $10,600,000,000 (7.62% of budget)
Foreign Exchange Reserve Deposit: $11,311,043,729 (8.13% of budget)
New Gross Debt after payments: $0
Debt as % of GDP: 0%
Spending of foreign exchange reserves from 2029:
$2,761,000,000 exchanged for gold
$11,311,043,729 deposit from budget
New foreign exchange reserves: $22,831,506,753
Gold reserves: 1402.2 tons
Due in part to the continued Chinese recession as well as the lowering of taxes, the budget has remained stagnant from 2029, sparking concerns that continued Filipino growth may not be something to take for granted. President Cojuango has downplayed criticisms, noting that the Energy Transition Plan is finally complete and will free up funding that he vows to redistribute appropriately.
At the same time, the Philippine has achieved enough gold to match the value of its predicted narrow stock of money, M0, allowing for the rebuilding of the nation's dramatically depleted foreign exchange reserves. Though the gold itself largely deters currency attacks, the Chinese recession has made it harder for the Philippines to maintain a positive trade balance, giving higher priority to forex account deposits than what had originally been intended.
Growth rate modifiers are decaying by 0.05 per year. 6.0% as base growth as a fast developing nation + 0.20% residual growth for FLNG upgrade + 0.10% residual growth for previous FLNG upgrade - 2.15% due to Chinese recession + 0.05% residual growth from industrial stimulus plan + 0.05% increase in construction/tech sectors from large PNET project
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