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Because of this growth, the Western Visayas economy increased its contribution to the gross domestic product in 2009 to 7.6 percent from the 7.3 percent in 2008. [49] In Central Visayas, the long-term goal is for it to be the leading growth center in the country, that would steer the Philippine economy into greater heights.
The Philippine Institute for Development Studies (PIDS) is a government-owned and controlled corporation of the Philippine National Government. It was established in September 1977 to conduct research to help government planners. Its primary client is the National Economic and Development Authority. PIDS was established by Presidential Decree ...
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Poverty in the Philippines is a complex issue influenced by various factors, including economic inequality, corruption, and inadequate access to education. The disparity in income across different regions and sectors creates significant barriers for many Filipinos, limiting their opportunities for upward mobility.
As of September 2020, the Philippines has a population of nearly 110 million and a population density of 368 per square kilometer. 32% of the population of the Philippines is under 15 years old, and only 22.2% is over 60. In the Philippines, 16.6% of the population lived below the national poverty line in 2018. [8] [9]
[46]: 128 In order to do this, Marcos relied heavily on foreign loans, and economists would later point to the period of fiscal policy from 1966 to 1970 as the root of problems that would bring about problems of the Philippine economy in the late 1970s, the 1980s, and beyond. [46]: 128
Air pollution causes significant health and economic problems in the Philippines. [21] An estimated 66,000 deaths annually have been directly linked to air pollution. [22] The Department of Environment and Natural Resources is tasked with implementing the Clean Air Act of 1999 to monitor and prevent air pollution in the country. [23]
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund.