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In 1984 and 1985 the Philippines saw the worst recession in its history: the economy contracted by 7.3% for two successive years. [1] Data from the Philippine Statistics Authority for 1985 showed that poverty incidence in families was at 44.2%—4.3 percentage points higher than in 1991 during the presidency of Corazon Aquino.
The Bayanihan to Recover as One Act, also known as Bayanihan 2, [1] and officially designated as Republic Act No. 11494, is a law in the Philippines that was enacted in September 2020 granting the President additional authority to combat the COVID-19 pandemic in the Philippines. [2] [3]
The Philippine House Special Committee on Bicol Recovery and Economic Development is a special committee of the Philippine House of Representatives. Jurisdiction [ edit ]
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.
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 ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund.
Under the Medium Term Philippine Development Plan for the years 1987–1992, science and technology's role in economic recovery and sustained economic growth was highlighted. During Corazon Aquino's State of the Nation Address in 1990, she said that science and technology development shall be one of the top three priorities of the government ...
The Department of Transportation (DOTr; Filipino: Kagawaran ng Transportasyon) is the executive department of the Philippine government responsible for the maintenance and expansion of viable, efficient, and dependable transportation systems as effective instruments for national recovery and economic progress. It is responsible for the country ...
According to the ADB, the Philippines has heavily relied on the ADB for development assistance, borrowing a total of $19.3 billion in the last decade. [2] [failed verification] The Philippines has been commended by the ADB for being a fast-growing economy despite increasing inflation and a plummeting global economy. [3]