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The Marcos administration created the Philippine Exchange Co. (Philex), a government entity that takes charge of all international trading of sugar. Philex solely took charge of exporting US and foreign-bound sugar. They bought locally manufactured sugar at a low price of $19.75 per picul, then sold it to the United States for $69.25. [2]
The Philippines' exports income had begun growing in the early 1970s due to an increased global demand for raw materials, including coconut and sugar, [1] [15] and the increase in global market prices for these commodities coincided with the declaration of martial law, allowing GDP growth to peak at nearly 9 percent in the years immediately ...
The richest 10 percent, meanwhile, took a larger share of the income at 41.7 percent in 1980, up from 37.1 percent in 1970. [61] According to the FIES (Family Income and Expenditure Survey) conducted from 1965 to 1985, poverty incidence in the Philippines rose from 41 percent in 1965 to 58.9 percent in 1985. This can be attributed to lower real ...
According to World Bank data, the Philippines' gross domestic product (GDP) quadrupled from $8 billion in 1972 to $32.45 billion in 1980, for an inflation-adjusted average growth rate of 6% per year. [40] Indeed, according to the U.S.-based Heritage Foundation, the Philippines enjoyed its best economic development since 1945 between 1972 and 1980.
Benedicto was the Philippines' ambassador to Japan from 1972 to 1978. [4] At the prime of his career, Benedicto's business empire consisted of 85 corporations, 106 sugar farms, 14 haciendas, other agricultural lands, 17 radio stations, 16 television stations, 2 telecommunications networks, 7 buildings, 10 vessels and 5 aircraft. [1]
As can be seen, the monopolist controlling A, B and C would profitably increase the price of A by 10 percent, in other words, these three products do constitute a market "worth monopolising" and therefore constitutes a relevant market. This result is because X controls all three products which are the only substitutes of A.
Company officials however dispute that they were a monopoly because of the existence of a government telephone system, and over 60 provincial companies operating in the country. The Bureau of Telecommunications (Butel) handled the government telephone system, which by 1975 had 34,643 operational telephone lines, or about 10.2% of the total ...
As a result of the 1986 tax reform program, average tax effort rose to 13.1 percent during the Aquino administration (1986–1992) and to 16.2 percent during the Ramos administration (1993–1998). Revenue effort rose steadily until the next round of tax reforms. Tax effort increased from 10.7% in 1985 to 15.4% in 1992, then peaked at 17.0% in ...