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In connection with the government's goal of self-sufficiency was the "Austerity Program," which President Garcia described in his first State of the NatIon Address as "more work, more thrift, more productive investment, and more efficiency" that aimed to mobilize national savings. [43]
Carlos Polestico Garcia KR (Tagalog: [ˈkaːɾ.los poˌlɛːs.tɪˈxo gɐɾˈsiː.ɐ]; November 4, 1896 – June 14, 1971), often referred to by his initials CPG, was a Filipino teacher, poet, orator, lawyer, public official, political economist, guerrilla and Commonwealth military leader who was the eighth President of the Philippines.
The García Administration inherited the economic and political instability of its predecessor. The government implemented an austerity program as an effort against the Shining Path, but resulted in an economic crisis. [17] Peru's economy suffered a hyperinflation of 7500% during García's presidency, worsening national poverty rates. [16]
Greece's economy shrank 1.5% in the second quarter of the year as the government's austerity program bites. The country's statistics agency Elstat said the "significant reduction" in public ...
The Austerity Program is a noise rock and alternative metal band that formed in New York City in 1997, founded by guitarist Justin Foley and bassist Thad Calabrese. The band has a distinct sound; due to their use of a drum machine, the band's categorized as an industrial rock outfit, and comparisons to other bands such as Big Black are made by critics and fans alike.
His monthly electricity bill in Buenos Aires has shot up to 12,000 pesos ($13.50) from 1,100 pesos ($2.50) in November as the government begins targeting utility subsidies and rolling out tax ...
WASHINGTON — With Donald Trump heading back to the White House, a growing band of younger, more energetic House Democrats is challenging seasoned veterans for powerful congressional posts ...
As part of his economic policies, García Padilla launched an austerity program, raising taxes by 1.1% of the gross national product (GNP) and making public employees’ pension schemes less generous. [c] These measures are expected to trim the government deficit from $2.2 billion to $800 million.