Background:
The Philippines were ceded by Spain to the US in 1898 following the Spanish-American War. They attained independence in 1946 after Japanese occupation in World War II. The 21-year rule of Ferdinand MARCOS ended in 1986, when a widespread popular rebellion forced him into exile. In 1992, the US closed its last military bases on the islands. The Philippines has had two electoral presidential transitions since the removal of MARCOS. In January 2001, the Supreme Court declared Joseph ESTRADA unable to rule in view of mass resignations from his government and administered the oath of office to Vice President Gloria MACAPAGAL-ARROYO as his constitutional successor. The government continues to struggle with Muslim insurgencies in the south.
Location:
Southeastern Asia, archipelago between the Philippine Sea and the South China Sea, east of Vietnam
Natural Resources:
timber, petroleum, nickel, cobalt, silver, gold, salt, copper
Population:
84,619,974 (July 2003 est.)
Charts:
Languages:
Two official languages - Filipino (based on Tagalog) and English; eight major dialects - Tagalog, Cebuano, Ilocano, Hiligaynon or Ilonggo, Bicol, Waray, Pampango, and Pangasinense
National Holiday:
Independence Day (from Spain), 12 June (1898); note - 12 June 1898 is the date of independence from Spain, 4 July 1946 is the date of independence from the US
Economic Overview:
In 1998, the Philippine economy - a mixture of agriculture, light industry, and supporting services - deteriorated as a result of spillover from the Asian financial crisis and poor weather conditions. Growth fell to 0.6% in 1998 from 5% in 1997, but recovered to about 3.4% in 1999, 4% in 2000, and 3.4% in 2001. In 2002, the Philippines recorded GDP growth of about 4.6% but also incurred a record budget deficit. As a result, the Philippines is burdened with a public sector debt equal to more than 100% of GDP. The government has promised economic reforms including going forward with privatization, reforming the tax system, and promoting additional trade integration within its region.
Courtesy of:
- Cia.gov