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Specifically, Section 12 of this Act mandates that "the government arsenal shall be utilized in the production of basic weapons, ammunition and other munitions for the use of the Armed Forces of the Philippines and the Philippine National Police (PNP), as well as for the sale and export of products in excess of AFP/PNP requirements." [4]
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.
Under a regime of martial law, President Ferdinand Marcos in July 1973 announced the decision to build a nuclear power plant. This was in response to the 1973 oil crisis, as the Middle East oil embargo had put a heavy strain on the Philippine economy, and Marcos believed nuclear power to be the solution to meeting the country's energy demands and decreasing dependence on imported oil.
2023 in the Philippines details notable events that occurred in the Philippines in 2023. On July 21, 2023, President Bongbong Marcos announced that the government will formally lift the COVID-19 state of public health emergency, marking the end of the three years of the pandemic. The emergency was officially lifted the following day.
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MANILA (Reuters) -Philippine President Ferdinand Marcos Jr. will meet U.S. Secretary of State Antony Blinken on March 19 to tackle cooperation and security matters, the office of the Manila leader ...
Dateline Philippines is the flagship midday newscast of the ABS-CBN News Channel (ANC) covering the day's most important headlines in politics, business, sports, and entertainment. It concentrates on news from the more than 7,000 islands of the Philippines as reported by ABS-CBN News , the largest news organization in the country.
US President Joe Biden has affirmed the United States' treaty alliances with Japan and the Philippines. [8] It was also announced that the three nations would make the Philippines as a new hub for the Partnership for Global Infrastructure and Investment scheme of the Group of Seven, [8] by opening the Luzon Economic Corridor in Luzon island. [9]