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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 .
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.
Because of this growth, the Western Visayas economy increased its contribution to the gross domestic product in 2009 to 7.6 percent from the 7.3 percent in 2008. [49] In Central Visayas, the long-term goal is for it to be the leading growth center in the country, that would steer the Philippine economy into greater heights.
In October 2018, the World Bank downgraded the economic outlook of the Philippines for 2018, but expects it to remain strong. [17] FMIC and UA&P expect the economy to improve in the second half of 2018. [18] On October 24, the Philippines improved its ranking by 29 places in the Ease of Doing Business rankings. [19]
A comparative graph of Revenue and Tax Effort from 2001 to 2010 [3] A comparative graph of Tax and Non-Tax Revenue contribution from 2001 to 2010 [4]. The Philippine government generates revenues mainly through personal and income tax collection, but a small portion of non-tax revenue is also collected through fees and licenses, privatization proceeds and income from other government ...
Filemon C. Rodriguez, one of the leading economic planner of the post-war Philippines, had warned that first, it is best to utilize this time to improve our economic position before in any eventuality, Japan could regain its footing and become a force once again, and second, should the Philippines miss this golden opportunity, we would still be ...
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Margaux Salcedo is an undersecretary of the Department of Budget and Management in the Philippines. [1] [2] [3] [4]She is part of the Philippine economic team that conducted the Post-SONA Economic Briefing in 2023 [5] and moderated the Philippine Economic Briefing in New York [6] and other major cities around the world as well as the Philippine Economic Briefings in key cities in the Philippines.