Corruption in the Philippines: Public Sector Improves But Private Sector Lags
On September 18, the preliminary results of the “2012 SWS Survey of Enterprises on Corruption” were released to the public. Of the 20 government institutions rated for sincerity in fighting corruption, 17 have improved. The results have confirmed “radical progress” in corruption reforms under President Benigno S. Aquino III, and the reforms and economic gains have garnered well-deserved attention and praise in the Philippines and abroad.
However, the survey results also point to a number of disturbing practices within the private sector, such as the prevalence of double bookkeeping and the low number of companies that report paying taxes honestly. Unfortunately, these practices in the private sector have not changed despite the improvements in the public sector. Based on these survey findings, it’s clear that in the coming year, the private sector needs to match the government’s progress. (more…)