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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.
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.
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Filemon C. Rodriguez, one of the leading economic planner of the post-war Philippines, had warned that first, it is best to utilize this time to improve our economic position before in any eventuality, Japan could regain its footing and become a force once again, and second, should the Philippines miss this golden opportunity, we would still be ...
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 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 .
In the Philippines, residents of slum areas are commonly referred to as "squatters" and have historically been subject to relocation or forced demolition. With a steadily growing metropolitan area, Metro Manila is subject to a densifying population of slum dwellers—a 2014 article states that Manila has an estimated 4 million people living in ...
Corruption in the Philippine judicial system is also a major problem. Bribery and irregular payments in return for favorable judicial decisions are quite common. Although judicial officials are independent by law, rich and powerful groups and individuals wield control and influence over the judicial system and influence the outcomes of civil ...