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The economic history of the Philippines is shaped by its colonial past, evolving governance, and integration into the global economy. Prior to Spanish colonization in the 16th century, the islands had a flourishing economy centered around agriculture, fisheries, and trade with neighboring countries like China, Japan, and Southeast Asia.
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.
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. [51]
The Marcos era includes the final years of the Third Republic (1965–1972), the Philippines under martial law (1972–1981), and the majority of the Fourth Republic (1981–1986). By the end of the Marcos dictatorial era, the country was experiencing a debt crisis, extreme poverty, and severe underemployment. [2] [3]
The Philippine Statistics Authority (PSA) said there were 17.54 million people living below the poverty line, a decrease of 2.4 million from the previous survey two years earlier. The government ...
[246] [247] The Philippine economy went into decline in 1981. Economic and political instability combined to produce the worst recession in Philippine history in 1984 and 1985, with the economy contracting by 7.3% for two successive years [247] and poverty incidence at 49%. [248]
The Negros famine took place on Negros island in the Philippines in the mid-1980s, during the waning days of the Marcos dictatorship. [1] [2] It was a key moment in the history of sugar production in the Philippines, as well as the broader political history of the Philippines.
This is a timeline of Philippine history, comprising important legal and territorial changes and political events in the Philippines and its predecessor states. To read about the background to these events, see history of the Philippines .