Philippines Economic Performance Over 2004-2013 Essay

This is because, the exports and imports had risen drastically which benefitted the economy. The government could use this to their advantage and implement what had caused the stunted GDP growth, in scenarios where the economy may be lacking or unstable.

Between 1975 and 1996, per person, GDP grew by almost 90%, taxes more than doubled, government transfers went up more than 160%, and average household income net of taxes grew by almost 50%. Income grew significantly. The proportion of national income directed via government grew far more significantly. Although there has been some problems with the economy during this period such as unemployment which has grown from 4 per cent to 8.5 percent, also the average duration of unemployment grew from 6 weeks to 52 weeks.

The economy continues to improve despite the last couple of years, by having an increased number of government budgets, increases number of efforts to reduce the public debt levels, and an export oriented growth

In 1980, the United States was emerging from a troubled decade. The 1970s had been marked by an ugly end to the Vietnam War, the demoralizing Watergate spectacle, rampant inflation, unemployment and an energy crisis. The Soviets had just invaded Afghanistan, rejuvenating

Politics in the U.S. during the 1980’s were exciting. Much like everything else during this decade, politics were changing and making a new way for economic development and social construct. Policy in the 1980’s were both huge on foreign policy, and domestic development. The cold war, being the main concern with foreign policy, consisted of Communism versus Democracy, or Socialism versus Capitalism. President Reagan being the face of America and our Commander and Chief, created “Reaganomics,” which fought for small Government, and utilized Government spending in a way that would effectively establish National Security as well as make a name for himself as being known as one of the most popular presidents in United State’s history. Though these issues took place some thirty years ago, it is safe to say that the tribulations we faced as a nation in the eighties have directly affected society in 2015.

Prior to Reagan’s inauguration the country was suffering from double-digit inflation, high interest rates, high unemployment, oil shortages, and

According to easynomics.com, from Q3 2012-Q2 2015, there was a confirmed upward trend with real GDP rising which translates to approximately 2.26 percent annual growth rate. Although the increase rate is too slow that people may not feel the recovery, but it does suggest the increase.

Philippines is an archipelago located in Southeast Asia near the equator. The Philippine archipelago consists of 7,107 islands divided into three major groups of islands which is Luzon, Visayas and Mindanao. As of 2016 the Philippine population is estimated to about 102,624,209 (World Fact Book). The Philippine nationality is termed Filipino and its population is made up of various ethnic groups. The national language is called Tagalog, it also the name of the major ethnic group of the country. According to Philippine Statistic Authority the population of urban area accounts for 45.3% of the country’s total population (Urban-Rural Classification). In contrast, the population in rural area is comprised of 54.7% and considered to be the majority population of the entire country. The Philippine climate is predominantly tropical marine where wet season occurs from November to April and is caused by the northeast monsoon. Similarly, the second set of rainy season, is caused by the southwest monsoon during May to October (World Fact Book). Additionally, the Philippine economy has been relatively resilient to global economic struggles because the country is less exposed to troubled international securities. The lower dependence on exports is what makes the country relatively resilient, relying only domestic products, as well as large remittances from millions of migrant and overseas Filipino workers (World Fact Book). The existing account balance has

The future of the economy is still going strong but one has not seen the great strides in advancement, as was the case from 1983 to 1993(economy). "Per capita personal income for the Nation is projected to increase 1.2 percent per year in 1993-2005, compared with a 1.4 percent increase per year in 1983-93. The growth rate slows as a result of the relationship between personal

 1942: Occupied by the Japanese  1945: Liberated by American and Filipino forces  1946: Attained independency and founded a democracy

1980’s they had political instability, economy was slow and had large public debt and fiscal deficits.

economy by 2004. In the latter year the economy of Mexico grew by 3% and by the next to 4.1%.

In 2003 the global economic situation was flourishing with growth strengthening up to 3% in 2003 from

The Philippine economy is progressively increasing according to the World Bank Org. According to the date compiled by CNN Money, the Philippines is projected to be the fourth fastest in the world, that has a GDP at 6.7%. It is projected that the Philippines economy is higher than Bangladesh 6.3%.The agriculture is one of the factors that affects the economy of the Philippines. It contributes the GDP and labor force in the Philippines.

In terms acceleration of economic growth is based on the measurement of GDP, MALAYSIA HAS recorded a growth of 5.1% last year. Although it is lower than 7.2% in 2010, but it was so roaring in the context of a difficult global economic environment and uncertainty. In contrast, global economic growth has dropped from 5.2% in 2010 to 3.8% in 2011 while the economy of the developed countries like USA, Germany, UK, France and Japan also recorded weak growth of respectively 1.5%, 2.7%, 1.1 %, 1.7% and -0.5% in the same year; far lower than Malaysia's achievements. Following a satisfactory GDP growth was assisted by the Federal government revenue increased by RM13.2 billion in 2011 through increased collection of IRB estimate of RM109.7 billion compared with RM96.5 billion the government has managed to reduce its fiscal deficit to 5.0% compared projection of 5.4%. This means that the GOVERNMENT has successfully steered the nation's economy as well as the control and management of public funds wisely in the past 3 years in a row when managed to bring down the fiscal deficit from 7.0% in 2009 to 5.6% (2010) and 5.0% in the past year in a expanding economy.