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This is an accepted version of this page This is the latest accepted revision, reviewed on 21 January 2025. Economy of Philippines Metro Manila, the economic center of the Philippines Currency Philippine peso (sign: ₱; code: PHP) Fiscal year Calendar year Trade organizations ADB, AIIB, AFTA, APEC, ASEAN, EAS, G-24, RCEP, WTO and others Country group Developing/Emerging Lower-middle income ...
The Philippine Senate Committee on Economic Affairs is a standing committee of the Senate of the Philippines. Jurisdiction. According to the Rules of the Senate, [1] ...
The following Infrastructure Flagship Projects (IFP)s were identified by the National Economic and Development Authority (NEDA). The Marcos administration approved 194 infrastructure projects, ranging from public transport, power, health, information technology, water resources, and agriculture.
In late November 2022, seven lawmakers in the Philippine House of Representatives, including Martin Romualdez and Sandro Marcos, filed House Bill No. 6398, [b] proposing the creation of a sovereign wealth fund for the Philippines to be known as the Maharlika Wealth Fund (MWF), inspired from South Korea's sovereign wealth fund.
The main suggested amendments center around the insertion of the phrase "unless otherwise provided by law", allowing Congress to lift or relax present economic restrictions in the Constitution, and the addition of the qualifier "basic" in Article XIV. [62]
Despite the averted Sugar Order No. 4, President Marcos in mid-August still raised the possibility of importing sugar to the Philippines to address the sugar crisis. [ 31 ] [ 32 ] He said that around 150,000 MT of sugar could be imported to address the country's needs for the rest of 2022 and projected the current supply to last until October ...
The Philippine economy contracted by 0.2% in the first quarter of 2020, for the first time since 1998, due to the COVID-19 pandemic and resulting lockdown. [196] Fitch Ratings downgraded its outlook on the Philippines to factor in the impact of the global health crisis brought about by the coronavirus disease 2019 (COVID-19). [197]
The Philippine economy is the world's 34th largest, with an estimated 2023 nominal gross domestic product of US$435.7 billion. [13] As a newly industrialized country, [375] [376] the Philippine economy has been transitioning from an agricultural base to one with more emphasis on services and manufacturing.