Philippine Issues

Falling Income The Philippine gross domesticated product per capita shrank to US$990 in 2000 from US$1,129 in 1997 while the gross national product per capita contracted to US$1,033 from US$1,197. This was a result of the Asiatic financial crisis, which caught up with the Philippines in 1998. After expanding 5.2 share in 1997, the countrys GDP backpedaled by 0.5 per centum in 1998. It grew by lonesome(prenominal) 3.4 per centumage in 1999 and 4 percentage in 2000. With a towering population festering commit of 2.3 percent annually, economic harvest-feast in 1999 and 2000 did little to alter the real per capita income of Filipinos. Peso Drops 14 Times vs. US Dollar check to Senator Ralph Recto, the countrys per capita income has barely grown in the past 21 years. He said that the per capita income of P12,913 in 2001 is only P318 higher than P12,595 in 1980. In todays pesos, the P318 increase in 21 years amounts to cipher at all. he said. Senator Recto also celebrated that the value of the peso has depreciated by as much as 1,373 percent against the dollar crossbreed since 1960. The Poor and the Rich In its 2000 tidy sum of family income and expenditure, the NSO said that the sightly income of the populations ordinal decile, representing the richest 10 percent of the Filipinos, was 14 time higher than the sightly earnings of the first decile, representing the poorest 10 percent.

Each decile was representing about 8 million Filipinos. Poverty brink: P13,916 While the per capita income declined between 1997 and 2000, prices of consumer goods and go increased by nearly 20 percent during the three-year use of goods and services or over six-spot percent annually. The National statistical Coordination Board (NSCB) was forced to acquire by 23 percent the national per capita poverty wand to P13,916 in 2000 from P11,319 in 1997. unequalised Regional tuition The Asian Development Bank (ADB) reported that subway Manilas per capita gross regional domestic product (GRDP) in 2000 was to a greater extent than twice that of the national average and to a greater extent than five times that of...If you compulsion to get a practiced essay, order it on our website: Ordercustompaper.com

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