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However, income tax also becomes a factor to income inequality because according to the Tax Management Association of the Philippines, Filipino workers pay the highest income tax in the entire Association of South-East Asian Nations (ASEAN) region. [69] An average Filipino worker is taxed 32% as long as he is earning more than the minimum wage.
The economic history of the Philippines is shaped by its colonial past, evolving governance, and integration into the global economy. Prior to Spanish colonization in the 16th century, the islands had a flourishing economy centered around agriculture, fisheries, and trade with neighboring countries like China, Japan, and Southeast Asia.
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.
The digital divide the Philippines refers to inequalities between individuals, households, and other groups of different demographic and socioeconomic levels in the Philippines in access to information and communication technologies ("ICTs") and in the knowledge and skills needed to effectively use the information gained from connecting. [1] [2 ...
In 1984 and 1985 the Philippines saw the worst recession in its history: the economy contracted by 7.3% for two successive years. [1] Data from the Philippine Statistics Authority for 1985 showed that poverty incidence in families was at 44.2%—4.3 percentage points higher than in 1991 during the presidency of Corazon Aquino.
In 2012, President Benigno Aquino said that, according to Transparency International, the factors driving the progress in the Philippines' Corruption Perception Index scores at that time were improved government service and reduced red tape. [8] Between 2012 and 2014, the Philippines's score rose from 34 to its highest-ever score of 38. [9]
The Second Philippine Commission, the Taft Commission, viewed economic development as one of its top three goals. [1] In 1901, 93% of the islands' land area was held by the government and William Howard Taft, Governor-General of the Philippines, argued for a liberal policy so that a good portion could be sold off to American investors. [1]
Society in the Philippines values education very highly, especially for their children. It is understood to be the means by which personal and familial poverty can be averted -allowing for a more successful way of life. According to the Philippines's 2013 Census of Population and Housing, the literacy rate of the nation was recorded at 96.5%. [15]