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In the Philippines, this is characterized by continuous and increasing levels of debt and budget deficits, though there were improvements in the last few years of the first decade of the 21st century. [2] The Philippine government's main source of revenue are taxes, with some non-tax revenue also being collected. To finance fiscal deficit and ...
The presidency of Gloria Macapagal Arroyo, also known as the Arroyo administration, spanned nine years from January 20, 2001, to June 30, 2010. She served the remainder of her predecessor Joseph Estrada 's term after he was deposed, and she was elected to a full second term in 2004 which ended in 2010. Arroyo is the daughter of 9th president ...
The Department of Budget and Management (DBM; Filipino: Kagawaran ng Badyet at Pamamahala) [1] is an executive body under the Office of the President of the Philippines.It is responsible for the sound and efficient use of government resources for national development and also as an instrument for the meeting of national socio-economic and political development goals.
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [ 31 ] In 2024, the Philippine economy is estimated to be at ₱26.55 trillion ($471.5 billion), making it the world's 32nd largest by nominal GDP and 13th largest in Asia according to the International Monetary Fund.
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.
Minister of Budget and Management: 1 Jaime C. Laya: June 12, 1978 January 12, 1981 Ferdinand Marcos [2] 2 Manuel Alba: January 25, 1981 February 25, 1986 3 Alberto Romulo: February 25, 1986 March 8, 1987 Corazon Aquino: Secretary of Budget and Management: 4 Guillermo Carague: March 13, 1987 February 12, 1992 Corazon Aquino [3] 5 Salvador ...
Benigno Simeon Aquino III KGCR (locally [bɛˈniːɡ.no ʔɐˈxiː.no]; born Benigno Simeon Cojuangco Aquino III; February 8, 1960 – June 24, 2021), [4][5] also known as Noynoy Aquino[6][7][8] and colloquially as PNoy, [b] was a Filipino politician who served as the 15th President of the Philippines from 2010 to 2016. [12][13][14] The son of ...
The national debt of the Philippines is the total debt, or unpaid borrowed funds, carried by the national government of the Philippines.As of the end of February 2024, the total national debt of the Philippines amounts to ₱15.18 trillion ($269.4 billion).