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The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [ 31 ] In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund.
The economy saw continuous real GDP growth of at least 5% since 2012. The Philippine Stock Exchange index ended 2012 with 5,812.73 points a 32.95% growth from the 4,371.96-finish in 2011. [80] The Philippines achieved an investment grade rating for the first time in the first quarter of 2013.
President Carlos P. Garcia introduced the Filipino First policy. The policy of Garcia, was a response to the impact of free trade and American economic dominance in the Philippines for years following the World War II. It is meant to assert greater Filipino role over the country's economy if not to gain control of it by promoting "Filipino ...
Federalism has grown in popularity among Filipinos in recent decades, with multiple political candidates successfully campaigning on federalism-based platforms. In 2022, Bongbong Marcos won the Philippine presidential election under the banner of Partido Federal ng Pilipinas (English: Federal Party of the Philippines; abbr. PFP).
In the Philippines, a government-owned and controlled corporation (GOCC), sometimes with an "and/or", [1] is a state-owned enterprise that conducts both commercial and non-commercial activity. Examples of the latter would be the Government Service Insurance System (GSIS), a social security system for government employees.
Economic history of the Philippines (1965–1986) The 21-year period of Philippine economic history during Ferdinand Marcos’ regime – from his election in 1965 until he was ousted by the People Power Revolution in 1986 – was a period of significant economic lows. [1][2][3][4] The early part of Ferdinand Marcos ' administration continued ...
maharlika.dof.gov.ph. The Maharlika Wealth Fund (MWF), also known as the Maharlika Investment Fund (MIF), is a sovereign wealth fund for the Philippines which is managed by the Maharlika Investment Corporation (MIC). [1] The MIF is the Philippines' first sovereign wealth fund. It will be allocated across a variety of assets, including foreign ...
The exclusive economic zone of the Philippines (Philippine EEZ), per the mandate of the United Nations Convention on the Law of the Sea (UNCLOS), consists of four subzones. [ 1 ] It covers 2,263,816 square kilometers (874,064 sq mi) of sea. The Philippines has 7,641 islands comprising the Philippine archipelago. [ 2 ]