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Philippine Development Process

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Submitted By ellabella17
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INTRODUCTION The Philippines is an archipelago consisting of more than 7000 islands. It is the 12th most populated country in the world which poses as a difficult challenge for good governance and development other than smaller countries. The Philippines is mostly mountainous. The citizens can speak several languages. Not to mention, the country is very close to the Pacific Ring of Fire which makes it more prone to frequent natural disasters. There is a 95.8 million in population. It also has a GDP of $424.4 billion with a 6.6% growth in 2012 and it has a five year annual growth of 4.7% with a $4,430 per capita. The Philippines also have a 7% unemployment rate and a 3.1% inflation rate. These are some of the quick facts of the Philippines as of September 2013. When President Benigno Aquino III took office back in 2010, he addressed the most important concern in the Philippine which is corruption. He instantaneously launched massive investigations from the administration he replaced and how they abused their power. The economy of the Philippines has been developing on the average of 5 percent annually over the past two decades. The most important increase in our Gross Domestic Product is the remittances which is more than 10% of the GDP. The distribution of the benefits to the less privileged has been an ongoing challenge in spite of the growth we had in the economy. Also, the Philippines is currently undergoing from extensive poverty and has a massive problem with underemployment and unemployment. Agriculture is very important to the economy and also the industrial productions like electronics, apparel, etc. It is a good chance to increase job offerings under those industries.
The Philippine economic development process is to have a continuous society determination to advance both the local economy and the quality of living of the people and also to have

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