economic simulation – Author Carlo Carrasco

Department of Finance (DOF) says 6% economic growth is quite difficult to achieve this year

July 31, 2025July 23, 2025carlocarrasco

The uncertainty about this year’s economic growth for the Philippines has gotten stronger as the Department of Finance (DOF) admitted that achieving 6% growth is quite difficult, according to a Manila Bulletin news report. The DOF pointed to external shocks that are affecting the national economy.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

While the Philippine economy has already been recovering from its deep recession during the height of the Covid-19 pandemic, hitting its growth potential of six percent would be challenging given the global uncertainties spilling over domestically, according to the Department of Finance (DOF).

“We do think that the potential of the Philippines is at the minimum six-percent growth. But of course, it’s quite difficult, especially knowing some of the challenges that we’re seeing,” DOF Undersecretary and Chief Economist Domini Velasquez told reporters during the Philippine thrift banks’ annual convention on Tuesday, July 15.

Just before the initial three-month pause on reciprocal tariffs ended on July 9, United States (US) President Donald Trump had stretched it to Aug. 1, but hiked the rates for Philippine exports to 20 percent from 17 percent previously, repeatedly citing the “significant and persistent trade deficit” that the trade giant has with its former colony.

Velasquez noted that the tariff hike was among the uncertainties that the Cabinet-level Development Budget Coordination Committee (DBCC) had considered in downscaling its growth target for the year, through 2028.

Last month, the economic team slashed its 2025 GDP growth target to between 5.5 percent and 6.5 percent from six- to 6.5-percent previously. Cited as factors were heightened external uncertainties, especially the ongoing conflicts in the Middle East and the imposition of US tariffs.

Finance Secretary Ralph G. Recto told reporters during an informal press chat on Wednesday, July 16, that he expects the economy to accelerate “significantly” in the second quarter compared to the previous quarter.

“In effect, the target is still six percent for the year,” Recto noted, taking off from the recently revised growth goal. “Realistically, it’s probably around 5.7 percent or 5.8 percent for the year. It depends, because there’s a lot of uncertainty—uncertainty with trade policy.”

“But I think the second quarter will definitely be better than the first,” Recto said, noting that the improvement will be driven by both government and household consumption.

The DBCC had also narrowed the growth target range for 2026 to 2028 to six to seven percent, from the previously more ambitious six to eight percent.

“We did recognize those [tariffs]. When we dialed down on our growth target in 2025, it’s really because of the external factors that we were seeing,” Velasquez said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the national economy is not strong enough to achieve 6% GDP growth by the end of this year? What do you think the national government should do to strengthen economic growth and make the Philippines more attractive to foreign investors? Do you think the Philippines still has a chance to convince America to lower its planned tariff on Philippine-made goods?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

US Dollar reserves of the Philippines reach all-time high of almost $112 billion

October 15, 2024October 8, 2024carlocarrasco

Based on the preliminary data of the Bangko Sentral ng Pilipinas (BSP), the American Dollar reserves of the Philippines reached $111.981 billion (as of September 2024 specifically) which counts as a new all-time high, according to a Manila Bulletin business news report.

To put things in perspective, posted below is an excerpt from Manila Bulletin report. Some parts in boldface…

The country’s US dollar stock climbed to its highest level of $111.981 billion as of end-September 2024, surpassing the previous record of $108.794 billion in 2021, as the central bank was accumulating foreign exchange and assets to boost external reserves and defend the local currency.

Based on preliminary data released by the Bangko Sentral ng Pilipinas (BSP) on Monday, Oct. 7, the gross international reserves (GIR) increased by 14.13 percent or by $13.865 billion year-on-year compared to $98.116 billion same time in 2023.

The GIR also rose by 3.82 percent or by $4.125 billion versus end-August this year’s reserves of $107.857 billion.

The BSP-monitored GIR are foreign assets of the BSP invested in foreign-issued securities, monetary gold, and foreign exchange.

The latest GIR level is “more than adequate external liquidity buffer” that is equivalent to 8.1 months’ worth of imports of goods and payments of services and primary income. It is also about 6.3 times the country’s short-term external debt based on original maturity and 4.4 times based on residual maturity, said the BSP.

Basically, a GIR is adequate if it can finance at least three-months’ worth of the country’s imports of goods and payments of services and primary income. This was based on international standards. The GIR is also viewed as more than sufficient if it provides at least 100 percent cover for the payment of the country’s foreign liabilities, public and private, falling due within the immediate 12-month period.

The reserves were higher in end-September because of the government’s net foreign currency deposits with the BSP that includes proceeds from the issuance of ROP Global Bonds.

The GIR likewise got a boost from the BSP’s gold holdings which had a higher value with the increase in the prices of gold in the global market. The BSP’s net income also increased due to its investments overseas.

Let me end this post by asking you readers: What is your reaction to this recent development? What is the first thing that comes to your mind when the Philippines’ US Dollar reserves grow? Does this development make you feel comfortable when it comes to banking, investing or running a local business? Are you satisfied with the way the BSP has been moving with regards to financial and economy activities?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Retro Gaming Ads Blast – Part 10

June 3, 2024May 16, 2024carlocarrasco

Welcome back readers, fellow geeks and electronic gaming fans!

In this edition of the Retro Gaming Ads Blast (RGAB) series, we will take a look at another batch of retro gaming print ads from the 1980s and 1990s.

For the newcomers reading this, Retro Gaming Ads Blast (RGAB) looks back at the many print ads of games (console, arcade, computer and handheld) that were published in comic books, magazines, flyers and newspapers long before smartphones, social media, the worldwide web and streaming became popular. To put things in perspective, people back in the 1980s and 1990s were more trusting of print media for information and images about electronic games and related products.

With those details laid down, here is the newest batch of retro gaming print ads for you to see and enjoy…

1. Double Dragon II: The Revenge print ad

*Nice looking art used to promote the game.*

The beat-them-up sub-genre of gaming was already popular in the 1980s and one of the most defining game franchises of this type of game was the Double Dragon series which proved to be popular with Nintendo Entertainment System (NES in America) and Family Computer (Famicom in Japan) gamers. As the first game was a very big hit on Nintendo’s consoles, the sequel Double Dragon II: The Revenge was promoted in America with strong confidence on the part of publisher Acclaim that it would become another massive hit. This print ad had a very nice looking comic books-style art that not only captured the concept of the game but also visualized the heroes Billy and Jimmy with enough details to focus on. I can say this was an eye-catching ad.

2. X-Men: Children of the Atom print ad

*Great looking ad but the line “100% direct conversion” is not true at all.*

Developed by Capcom in cooperation with Marvel, X-Men: Children of the Atom was a huge hit in the video arcades and it was not surprising that it got released on the Sega Saturn by Acclaim. Acclaim organized an aggressive promotional campaign by pouncing on the fans’ love and knowledge of the X-Men and the high fun factor of Capcom’s game. What this print ad got wrong, however, was the line “100% direct conversion of the #1 arcade smash!” which was wrong and misleading. In reality, the Sega Saturn version of the game had about one-third of the animation frames cut due to the console’s smaller RAM capacity.

As the years passed by, the Sega Saturn became the more suitable console for home ports of Capcom’s further 2D fighting games as Sony’s PlayStation had even more severe limitations and a graphics processor that was not suitable for 2D graphics. By the end of 2000, Capcom’s 2D fighting games on PlayStation all were inferior to the Sega Saturn versions.

3. Sky Shark NES print ad

Released in Japan as Flying Shark, Sky Shark was released on multiple platforms in 1988 and there was an NES version of it which this particular print ad promoted. The American branch of Taito wisely used positive quotes from media outlets to promote the game while coming up with an engaging text description and displayed NES screenshots. And then there was that very engaging painted cover art that gave this print ad a lot of punch. An effective ad overall.

4. Conflict print ad

*This is a very captivating artwork for advertising.*

There is no denying the fact that the Cold War was a strong influence on arcade games and video games. Titles like Contra, Jackal, Metal Gear, Operation Wolf, Cabal and Rush’n Attack were militaristic games that entertained millions of gamers from the young adults to the little children. In 1990, Vic Tokai released the game Conflict on the NES which had a military theme but an unusual game design composed of digital maps with hexagons in which gamers will play with strategy to win battles. That being said, this print ad’s visual concept was very captivating yet also misleading. If you see how the game is played, you will know what I mean.

5. College Slam print ad

*Were you ever interested in college basketball video games?*

This is one of the more eye-catching print ads I’ve seen due to the artist’s illustration of a basketball with a mouth biting the basketball rim which dominates the space. For the newcomers reading this, College Slam was a basketball video game that was actually a repacked version of the popular NBA Jam with focus on NCAA basketball players. With the biting basketball at the center, it was easily an attraction and the screenshots implemented were larger than usual which easily gave gamers a clear look at what the game looked like. While this print ad is eye-catching, it did not help sell College Slam and there never was a follow-up.

6. Tecmo Super Baseball print ad

*From the time when Tecmo was prolific with video games about sports.*

Long before it started the Dead or Alive game franchise, Tecmo was once heavily invested in making sports video games. Tecmo Super Baseball was their first American pro baseball video game released for Super Nintendo Entertainment System (SNES) and Sega Genesis, and it was notable that the publisher secured only the Major League Baseball Players Association (MLBPA) which resulted in the game featuring real-life players but the teams had no names and no logos. Regardless, this print ad showed how aggressive Tecmo was in trying to attract consumers’ attention by showing ten screenshots with short text descriptions each. The ad’s write-up boasted realism as well as the promise of gaming quality.

7. The Punisher print ad

In the early 1990s, Capcom and Marvel Comics started their partnership resulting in the releasing of the arcade game The Punisher. Developed by Capcom, the said arcade game became a big hit with gamers as it featured fun gameplay, multiple enemies appearing on screen simultaneously and other fun elements. Unsurprisingly, the game was ported (note: Sculptured Software was the lead developer) to the Sega Genesis with significant downgrades in terms of graphics, sound, enemy variety and other related elements due to technical limitations. That being said, this print ad used detailed art of the Punisher (with Col. Fury in the background) in a clever way to promote the Sega Genesis version while keeping their attention away from the obvious visual downgrades of the two screenshots displayed. The Punisher on Genesis was poorly received.

8. Stargate print ad

*If you did not enjoy the movie, were you able to play the video game adaptation on Sega Genesis or Super NES?*

Remember the sci-fi movie Stargate (1994)? The film was a surprise box office hit and eventually video game adaptations of it were made for the SNES, Sega Genesis, Game Gear and the GameBoy. This particular print ad, however, showed screenshots of the SNES and Genesis versions which is made obvious with the side-scrolling adventure plus 3D flying sequence (one screenshot showed it). Combined with images sourced from the movie poster plus an insert of the movie in home video format (lower-right corner), this print ad was obviously an aggressive way to promote the film with the post-theatrical business in mind. In case you are wondering, the cinematic Stargate is not related at all with the early 1980s video game (a follow-up to the classic game Defender) of the same name.

9. Aerobiz Supersonic print ad

*For a simulation game released on consoles, Aerobiz Supersonic is pretty deep and a lot of fun to play.*

The airline simulation game Aerobiz Supersonic is a highly addictive and surprisingly fun game that I enjoyed playing on the SNES (read my retro review by clicking here) and strangely enough I first learned about not through its print ad but by reading a preview published by Electronic Gaming Monthly (EGM) magazine. As for this print ad made by Koei’s American team, this is really odd to look at due to the ad makers’ choice of showing a not-so-attractive flight meal. In contrast to that, the ad makers did a good job describing the game creatively and showed three screenshots that were strategically selected in my view. Having played the game many times, I can say that this print ad is very truthful.

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A Look Back at Aerobiz Supersonic

February 22, 2020May 9, 2024carlocarrasco

When it comes to playing economic simulation games, I enjoy playing them on the personal computer (PC) using the keyboard and mouse. Back in the mid-1990s, there was one particular economic simulation that I played on the Super Nintendo Entertainment System (Super NES or SNES) and found it to be very enjoyable and easily to play with using the console’s control pad.

That game was Aerobiz Supersonic, a simulation about the airline industry developed and published by Koei for both the Super NES and the Sega Genesis. Here is my look back at this old video game from the 1990s.

*The cover of the Super NES version of the game. Its art and style is really nice to look at.*

Concept and Game Design

In the game, you get to play the Chief Executive Officer (CEO) of an airline and your goal is to beat your rivals in the global air travel industry. How to achieve the goal and succeed? There are tasks that need to be accomplished such as buying commercial airplanes (that include such real-life companies like Boeing and Airbus) for use, establishing flight routes, securing slots in airports worldwide, selling tickets and filling up each flight with as many passengers as possible, achieve profitability and finish the game’s imposed time period ranking #1. Adding zest to the game’s challenge is the selection of a certain era of world history that include 1955-1970 (the dawn of jets), 1970-1990 (the Cold War era), 1985-2005 (the present era) and 2000-2020 (the age of continued flight advancement).

Within the game, time passes by means of clicking a certain on-screen button that ends the player’s current turn. Of course, before pressing that, the player has to set things in motion like sending a representative to a certain overseas airport to negotiate and secure slots (which takes months to complete), set the ticket prices, buy a new airplane or two, etc. The game even allows players to micro-manage their airline like adjusting internal spending (salaries) or adjusting the quality of their airplane and services. Also nice is the option offered for players to buy a hotel or resort, a theme park or a travel agency that can bring in additional revenue.

*The airport slots, local businesses, economic and tourism details per city displayed.*

*Visit an airline and choose from one of many models of airplanes to buy.*

There are other small details that need paying attention to such as the economy and tourism meters of each city displayed (note: a higher tourism score means the city is more attractive to travelers), the population, etc. Also noteworthy is the current state of relations between your home nation with the nation of the city airport you are trying to establish routes with which can affect your business.

When the turn ends, a series of events will happen showing what happened around the world, how your company fared in the competition during the lapsed time period, and, occasionally, a random event will occur that most likely will affect your business (examples: the Olympics hosted by a city helps draw in additional passengers or the 1970s oil crisis raises the cost of your operation).

Regarding the game’s imposed time period for competing with the artificial intelligence (AI) opponents, the period is twenty in-game years.

*This is part of micro-managing your business in the game.*

*After the end of each turn, news and updates not only about your company but also your competitors are flashed.*

Quality

Being used to playing simulation games on PC, I found Aerobiz Supersonic to be very enjoyable, addicting and easy and efficient to play (in terms of controls). Considering the above-mentioned gameplay options (buying an airline, sending a representative, etc.), they are pretty easy to adjust using the Super NES controller although there were a few moments when I accidentally pressed the button putting into motion a different option.

Gameplay aside, this game has a whole lot of charm with its visual presentation. You launch a brand new flight route, the game shows a short animation sequence of the jet taking off. You buy an airplane, you will see a short animation of it entering your facility once it arrives (complete with a visual design reflecting the model). You conduct a board meeting, your company’s officials are present making reports to you and you get a series of choices to make on what to do next. A historical event or a global development occurs, you get to see original art reflecting them (example: a nation joins the EU with people wearing suits and neckties together in a formal ceremony). You make a move to buy slots at an airport overseas, a company official will have his or her face shown talking to you. When looking at the regional map, you see lines connected between cities (highlighting the establish flight route you made) and there are icons of airplanes flying between them.

*Random tourist hot spots get highlighted as you keep playing.*

More on the aspect of starting the game, I like the options offered for me to select which city shall serve as my airline headquarters. Among the many cities included, there are cities of my native Philippines namely Manila (the international destination) and the nearby city of Cebu. I still remember how delighted I was to see my native Philippines included in the game, complete with Asian character designs to reflect the company and its region.

Conclusion

Ultimately Aerobiz Supersonic (which was actually a sequel to Aerobiz) is a gem of a console economic simulation released at a time when 2D sprite gaming was still the standard and 3D polygonal gaming was just about to make an impact on the global video game console market. Back then, 2D side-scrolling action/adventure games, sports games and role-playing games (RPGs) were so common on the Super NES and Genesis combined and the idea of enjoying economic simulations on consoles was highly unusual. Aerobiz Supersonic is proof that economic simulations can come with a lot of depth, deliver a good amount of strategy and can be highly playable and enjoyable on consoles.

If you want to enjoy this game, it can be quite difficult to do because you need to acquire an existing copy of the game as well as a fully functioning Super NES or Sega Genesis. As of this writing, there has never been a re-release of Aerobiz Supersonic (note: in line with legitimacy, I will not consider those browser versions or file sharing of ROMs) and it is not even included on Nintendo’s Virtual Console. There’s not even a version made for smartphones.

Now if only the executives at Koei Tecmo Games would consider revisiting Aerobiz Supersonic with today’s consumers in mind.

*You can choose what kind of plane, how many planes, how many flights and how much you set the ticket prices whenever you start a new flight route.*

Thank you for reading. If you find this article engaging, please click the like button below and also please consider sharing this article to others. Also my fantasy book The World of Havenor is still available in paperback and e-book format. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me as well. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me at HavenorFantasy@twitter.com

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