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Republika ng Pilipinas
Republic of the Philippines

Flag of the Philippines Coat of Arms of the Philippines
Motto
Maka-Diyos, Maka-Tao, Makakalikasan, at Makabansa
For God, People, Nature, and Country
Anthem
Lupang Hinirang
Map of the Philippines
CapitalManila
Government Presidential republic
President
- From 2010Benigno Aquino III
Legislature Congress
- Upper houseSenate
- Lower houseHouse of Representatives
History
July 4, 1946Established
Area299,764 km²
Population
- 200991,983,000
 Density306.8/km²
GDP2009 (PPP)
- TotalUS$ 342.5 billion
- Per capitaUS$ 3,724
CurrencyPeso
Flag of the Philippines Philippines
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The Republic of the Philippines is a presidential republic in Southeast Asia.


Background

The Philippine Islands became a Spanish colony during the 16th century; they were ceded to the US in 1898 following the Spanish-American War. In 1935 the Philippines became a self-governing commonwealth. Manuel QUEZON was elected President and was tasked with preparing the country for independence after a 10-year transition. In 1942 the islands fell under Japanese occupation during WWII, and US forces and Filipinos fought together during 1944-45 to regain control. On 4 July 1946 the Philippines attained their independence. The 21-year rule of Ferdinand MARCOS ended in 1986, when a widespread popular rebellion forced him into exile and installed Corazon AQUINO as president. Her presidency was hampered by several coup attempts, which prevented a return to full political stability and economic development. Fidel RAMOS was elected president in 1992 and his administration was marked by greater stability and progress on economic reforms. In 1992, the US closed its last military bases on the islands. Joseph ESTRADA was elected president in 1998, but was succeeded by his vice-president, Gloria MACAPAGAL-ARROYO, in January 2001 after ESTRADA's stormy impeachment trial on corruption charges broke down and widespread demonstrations led to his ouster. MACAPAGAL-ARROYO was elected to a six-year term in May 2004. The Philippine Government faces threats from armed communist insurgencies and from Muslim separatists in the south.[1]

Economy

The Philippines was less severely affected by the Asian financial crisis of 1998 than its neighbors, aided in part by annual remittances of $7-8 billion from overseas workers and no sustained runup in asset prices or foreign borrowing prior to the crisis. From a 0.6% decline in 1998, GDP expanded by 2.4% in 1999, and 4.4% in 2000, but slowed to 3.2% in 2001 in the context of a global economic slowdown, an export slump, and political and security concerns. GDP growth accelerated to 4.3% in 2002, 4.7% in 2003, and about 6% in 2004, reflecting the continued resilience of the service sector, and improved exports and agricultural output. Nonetheless, it will take a higher, sustained growth path to make appreciable progress in poverty alleviation given the Philippines' high annual population growth rate and unequal distribution of income. The Philippines also faces higher oil prices, higher interest rates on its dollar borrowings, and higher inflation. Fiscal constraints limit Manila's ability to finance infrastructure and social spending. The Philippines' consistently large budget deficit has produced a high debt level and has forced Manila to spend a large portion of the national government budget on debt service. Large, unprofitable public enterprises, especially in the energy sector, contribute to the government's debt because of slow progress on privatization. Credit rating agencies are increasingly concerned about the Philippines' ability to sustain the debt; legislative progress on new revenue measures will weigh heavily on credit rating decisions.[2]

President

  • Benigno Aquino III () (June 30, 2010 - )



Nation

Filipino Polities

Neighbouring Nations

References

  1. The CIA World Factbook: Introduction - Background
  2. The CIA World Factbook: Economy - Overview

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