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Because of this growth, the Western Visayas economy increased its contribution to the gross domestic product in 2009 to 7.6 percent from the 7.3 percent in 2008. [49] In Central Visayas, the long-term goal is for it to be the leading growth center in the country, that would steer the Philippine economy into greater heights.
Poverty in the Philippines has been linked to bad governance, corruption, and a political system dominated by political dynasties. [24] [25] The country's poorest provinces are ruled by political dynasties. [26] [27] Additionally, there are the problem of extractive institutions that hinder the country's economic growth. [28]
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The Philippine economy took a big hit during the 1973 oil crisis, but the commodities boom kept the economy afloat. [ 7 ] Manufactured exports became a significant growth area, growing at twice the rate of the agricultural exports which had been the Philippines’ traditional export products. [ 15 ]
The Department of Budget and Management (DBM; Filipino: Kagawaran ng Badyet at Pamamahala) [1] is an executive body under the Office of the President of the Philippines.It is responsible for the sound and efficient use of government resources for national development and also as an instrument for the meeting of national socio-economic and political development goals.
The Impact of Trade on Employment in the Philippines: Country Report (PDF). Makati City, Philippines: International Labour Organization. April 2019. ISBN 978-92-2-133021-9. Archived from the original (PDF) on January 24, 2022. Villegas, Bernardo. Guide to Economics for Filipinos. Manila: Sinag-Tala, 2001. ISBN 971-554-138-0
Five-Year Integrated Socio-Economic Program for the Philippines: Legislative Building, Manila: 5th Congress: 1st English 26 January 28, 1963 () The State of the Nation 1963: 2nd 27 January 27, 1964 () The State of the Nation: 3rd 28 January 25, 1965 () The Philippines after Three Years (1962–1965) 4th 29 Ferdinand Marcos
Air pollution causes significant health and economic problems in the Philippines. [21] An estimated 66,000 deaths annually have been directly linked to air pollution. [22] The Department of Environment and Natural Resources is tasked with implementing the Clean Air Act of 1999 to monitor and prevent air pollution in the country. [23]