The Philippine economic sector along with Malacañang expressed elation over the peso’s continuous appreciation against the dollar, which the administration claims is attributable to the fiscal and economic reforms it initiated in 2005. While the government remains jubilant over this seemingly positive development, other less constructive sides to the story are also apparent, albeit shadowed by the country’s fondness for optimistic news. One factor market strategists are saying helped boost the value of the peso is the increase in the overseas Filipino workers’ (OFW) remittances the previous year.

A Banco de Oro strategist claims that OFWs sent home more money because more professionals are being sent abroad instead of merely entertainers. “Professionals” in this case, refers to teachers. I fail to see why a nation should rejoice over such a premature development, especially one that follows a season where Filipinos have a knack for spending more than they should (or could) afford. Christmas seems to have bitten everyone with the feel-good bug, neglecting that while the movers in the palace links the peso increase to its marvelous governance, the country shall once again welcome a new year languishing in the same woes it faced the previous year.

Sadly, the story does not end with teachers, for the Philippines is also known to send nurses abroad literally by the hundreds of thousands. While the country remains in constant threat of Meninggococcemia outbreaks, we have our own health system, perpetually on the verge of collapse, to consider.

While one cannot blame our countrymen for seeking greener pastures abroad in order to provide better lives for their families here, this phenomenon shows the failure of the government to properly address the country’s employment, education, and health needs.

Market analysts also suggest the adjustment of the 10 percent expanded value added tax (EVAT) to the originally planned 12 percent in order to sustain this market condition. Once again, the insufferable know-it-alls in the economy propose policies that may worsen the entire country’s condition. Ironic, for these intellectuals are identified as “experts”, “advisers”, and “strategists”.

And still Congress might push through with that tax exemption bill for minimum wage earners, if we get so lucky. This highlights the fact that no matter how ecstatic the government may be about the increase in the peso value, the triumphant feeling does not always filter down to the rest of the Filipinos. Many are too in the dark or too tied up with how to put food on the table to rejoice over the peso’s appreciation.

Then again, it never helps to be such a grouch, especially with raves about the “Ang galing ng Pinoy” mantra being promoted everywhere. The recent Southeast Asian games, the triumphs of Filipinos here and abroad, and the much-broadcasted Pinoy Big Brother hit song “Pinoy Ako” seemed to have fired up Filipino’s optimism despite the difficult times.

Perhaps 2006 should be faced with these happy impressions in mind, but people should never discount the fact that real life is not encapsulated in the value of the peso, or the many medals the country may have earned. Amidst all these accomplishments are more serious issues that need addressing: food, energy and national security, the plight of the workers, and escalating debt.

Enjoy the good things 2005 brought and whatever 2006 may bring, but do not go lax on that cynicism and being analytic.