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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.
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. [51]
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.
He was one of those who initiated mathematics in the Philippines. He contributed extensively to the progression of mathematics and the mathematics learning in the country. He has made fundamental studies such as on stratifiable congruences and geometric inequalities. Dr. Favila has also co-authored textbooks in algebra and trigonometry.
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 Philippines was the only country in the Southeast Asia region that had a declining youth literacy rate between the years of 1990 and 2004, according to data from the United Nations. This prompted major school reforms and in 2012, a K-12 school curriculum was introduced which included a year of kindergarten and two senior school years.
Ferdinand Marcos Jr., the son of the late dictator whose rule defined the Philippines' recent history, is leading opinion polls on the race to become president, three months ahead of a May 9 election.
The 2023 Corruption Perceptions Index scored the Philippines at 34. When ranked by score, the Philippines ranked 115th among the 180 countries in the 2023 Index. For comparison with worldwide scores, the best score was 90 (ranked 1), the worst score was 11 (ranked 180), and the average score was 43.