Search results
Results from the WOW.Com Content Network
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]
[46]: 128 In order to do this, Marcos relied heavily on foreign loans, and economists would later point to the period of fiscal policy from 1966 to 1970 as the root of problems that would bring about problems of the Philippine economy in the late 1970s, the 1980s, and beyond. [46]: 128
The country had weathered the first global oil crisis, in 1973, but by 1979 the commodities boom which had propped up its economy in the early 1970s had died down, leaving the Philippines much more vulnerable [1] - so much so that in the third quarter of 1981, the Philippine economy followed the course of the US economy when it went into recession.
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2025, the Philippine economy is estimated to be at ₱28.05 trillion ($508.79 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund .
The Philippine Institute for Development Studies (PIDS) is a government-owned and controlled corporation of the Philippine National Government. It was established in September 1977 to conduct research to help government planners. Its primary client is the National Economic and Development Authority. PIDS was established by Presidential Decree ...
In October 2018, the World Bank downgraded the economic outlook of the Philippines for 2018, but expects it to remain strong. [17] FMIC and UA&P expect the economy to improve in the second half of 2018. [18] On October 24, the Philippines improved its ranking by 29 places in the Ease of Doing Business rankings. [19]
Despite the averted Sugar Order No. 4, President Marcos in mid-August still raised the possibility of importing sugar to the Philippines to address the sugar crisis. [ 31 ] [ 32 ] He said that around 150,000 MT of sugar could be imported to address the country's needs for the rest of 2022 and projected the current supply to last until October ...