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The Philippines' Department of Social Welfare and Development (abbreviated as DSWD) is the executive department of the Philippine Government responsible for the protection of the social welfare of rights of Filipinos and to promote social development.
Invest in human capital development, including health and education systems, and match skills and training. Promote science, technology, and the creative arts to enhance innovation and creative capacity. Improve social protection programs, including the government's Conditional Cash Transfer program.
Marcos, thereafter, crafted a government reorganization plan which included a National Economic Development Authority and submitted it to Congress for their approval. [7] In 1972, the National Economic Development Authority (without the conjunction “and”) was created as the government's central planning body.
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 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.
In the Philippines, monetary policy is the way the central bank, the Bangko Sentral ng Pilipinas, controls the supply and availability of money, the cost of money, and the rate of interest. With fiscal policy (government spending and taxes), monetary policy allows the government to influence the economy, control inflation, and stabilize currency.
Privatization in the Philippines occurred in three waves: The first wave in 1986–1987, the second during 1990 and the third stage, which is presently taking place. [16] The government's privatization program is handled by the inter-agency Privatization Council and the Privatization and Management Office, a sub-branch of the Department of Finance.
The Philippines 2000 platform was widely successful, making it one of the greatest legacies of the Ramos administration to the Philippines. Ramos was successfully able to open the then-closed Philippine economy and break Marcos-era formed monopolies, especially with regard to Philippine Airlines and the Philippine Long Distance Telephone Company, which were privatized and de-monopolized during ...