The administration sees infrastructure shortcomings as a key barrier to sustained economic growth and has pledged to spend $165 billion on infrastructure by 2022. Key themes under the government’s Ten-Point Socioeconomic Agenda include continuity of macroeconomic policy, tax reform, higher investments in infrastructure and human capital development, and improving competitiveness and the overall ease of doing business. The administration wants to reduce the poverty rate to 17% and graduate the economy to upper-middle income status by the end of President DUTERTE’s term in 2022. DUTERTE believes that illegal drug use, crime and corruption are key barriers to economic development. Benigno AQUINO III was elected to a six-year term as president in May 2010 and was succeeded by Rodrigo DUTERTE in May 2016.Ģ016 saw the election of President Rodrigo DUTERTE, who has pledged to make inclusive growth and poverty reduction his top priority. Her presidency was marred by several corruption allegations but the Philippine economy was one of the few to avoid contraction following the 2008 global financial crisis, expanding each year of her administration. MACAPAGAL-ARROYO was elected to a six-year term as president in May 2004. He was succeeded by his vice-president, Gloria MACAPAGAL-ARROYO, in January 2001 after ESTRADA's stormy impeachment trial on corruption charges broke down and another 'people power' movement ('EDSA 2') demanded his resignation. Joseph ESTRADA was elected president in 1998.

In 1992, the US closed its last military bases on the islands. His administration was marked by increased stability and by progress on economic reforms. Fidel RAMOS was elected president in 1992. Her presidency was hampered by several coup attempts that prevented a return to full political stability and economic development. A 20-year rule by Ferdinand MARCOS ended in 1986, when a 'people power' movement in Manila ('EDSA 1') forced him into exile and installed Corazon AQUINO as president. On 4 July 1946 the Republic of the Philippines attained its independence. In 1942 the islands fell under Japanese occupation during World War II, and US forces and Filipinos fought together during 1944-45 to regain control.

Manuel QUEZON was elected president and was tasked with preparing the country for independence after a 10-year transition. In 1935 the Philippines became a self-governing commonwealth. The Philippine Islands became a Spanish colony during the 16th century they were ceded to the US in 1898 following the Spanish-American War. Real Fixed Investment (gross fixed capital formation) Nominal Fixed Investment (gross fixed capital formation)

Economic indicators by president