Essay on The Phillippines' Economy

1234 Words 5 Pages
The Phillippines' Economy


Over the past few years, the Philippines' economy has undergone a remarkable transformation. In the late 80's and early 90's the Philippines were stuck with poor political leadership, economic growth, and slow paced economic development. Today it is recognized globally that the Filipino economy has turned around to produce a positive growth. One of their biggest accomplishments has been the GNP growth rate rise from zero in the early nineties to between 5% and 6% today.
The current president, Joseph Ejercito Estrada, is following the strong pace set by former president. Under the Ramos administration, important steps were taken towards economic liberalization. These steps included the opening of
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Despite this expansion, the quality of education was still not up to par and remains a concern today. One problem facing the education system was a thirty- percent difference in the literacy level between rural and urban areas. Also, all families below the poverty line could not afford to educate their children beyond elementary school. These and other problems like poor teacher performance, overcrowded classrooms, lack of language skills and low wages could definitely benefit from new programs aimed at improving work productivity and family income.
In 1990, over 10,000 foreign students studied in the Philippines, the majority of which were American. Until recently, most of the students attending these schools had to be taught in three languages; English, Filipino and Spanish. Now the schools primarily focus on Filipino, which will relieve much stress on students and faculty, and promote faster progress in the future. Another controversy noticed by many American students was the fact that many education policies were fluctuating constantly, and were likely to be changed before teachers became used to them. The most important concern of the education system in the Philippines is the number of students who actually complete college, and are then unable to find a job that they were not grossly overqualified for. These trained personnel could facilitate economic development if properly utilized, which is why the Department of Education,…

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