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The country was having sound economic indicators before the 2008 economic crisis. Average income per capita was increasing while poverty incidence showed a downward trend. Average income per capita rose by 2% in 2007 and 2008, whereas poverty incidence dropped from 33.0% in 2006 to 31.8% in 2007 and 28.1% in 2008.
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 .
Before Marcos became President in 1965, the Philippines was the 7th largest economy in Asia, and 30th largest economy worldwide. [ 22 ] From the 1960s until the declaration of martial law, the Philippine economy was primarily agricultural . 60% of the labor force worked in agriculture in 1957 and 1964.
The Philippine economy contracted by 0.2% in the first quarter of 2020, for the first time since 1998, due to the COVID-19 pandemic and resulting lockdown. [ 196 ] Fitch Ratings downgraded its outlook on the Philippines to factor in the impact of the global health crisis brought about by the coronavirus disease 2019 (COVID-19).
The Pandemic Emergency Purchase Programme (PEPP) was a monetary policy initiative launched by the European Central Bank (ECB) in March 2020 to mitigate the economic impact of the COVID-19 pandemic. Its primary goals were to maintain price stability, ensure favorable financing conditions across the eurozone, and safeguard the transmission of ...
The COVID-19 pandemic in Metro Manila was a part of the worldwide pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The virus reached Metro Manila on January 30, 2020, when the first case of COVID-19 in the Philippines was confirmed in Manila. Metro Manila is the worst ...
Toggle Timeline subsection. 1.1 ... Download as PDF; Printable version ... This article attempts to document the timeline of the COVID-19 pandemic in the Philippines ...
The COVID-19 pandemic in the Philippines was a part of the worldwide pandemic of coronavirus disease 2019 caused by severe acute respiratory syndrome coronavirus 2 . [4] As of February 11, 2025, there have been 4,173,631 [ 1 ] reported cases, and 66,864 [ 1 ] reported deaths, the fifth highest in Southeast Asia , behind Vietnam , Indonesia ...