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Presidents of the Philippines under American Civilization

05 Oct

Economic Policies of Different Philippine Presidents

Administration of Manuel Roxas (1946-1948)

  • period of rehabilitation
  • need for economic recovery in our country after the war because there were a lot of damages
  • lack of funds
  • forced to accept the Americans’ offer:
Bell Trade Act and War Damage Act
– continued the existing free trade between the Philippines and the US.
– provide financial aid
Administration of Elpidio Quirino (1948-1953)
  • continued economic policies Roxas started
  • import substitution policy, underscored the control on importation
  • goal: solve trade deficit to achieve balance of trade (there is trade deficit when the expences from import exceed the export income)
Administration of Ramon Magsaysay (1954-1957)
  • started to solve problems on land redistribution
  • Land Reform Act of 1955: gave emphasis on the welfare of the poor farmers who desired to own agricultural land
  • established the National Resettlement and Rehabilitation Act (NARRA) to give land to some farmers
  • also established the FACOMA (Farmers’ Cooperative and Marketing Association) to organize the farmers
Administration of Carlos P. Garcia (1957-1961)
  • considered as the most decisive administration
  • Filipino First Policy
  • objective: to free our economy from foreign intervention and control
  • the control on import, financial loans, foreign currencies was tightened
  • he gave priority to Filipino industries in the distribution of resources
  • supported the Retail Nationalization Trade Act
Administration of Diosdado Macapagal (1961-1965)
  • lifted the control on foreign currencies and allowed the importation of goods, which resulted to devaluation
  • economic policy: “decontrol” – allowing foreign products to enter freely in our country
  • signed the Agricultural Land Reform Code – abolished the kasama system in tilling the land
  • paved way to the implementation of land reform
  • established the Land Bank of the Philippines
Administration of Ferdinand E. Marcos (1965-1986)
  • served the government for 20 years, longest term for a Philippine president
  • continued the Decontrol Policy of Diosdado Macapagal
  • at first, the economy was doing well
  • national income increased rapidly; production was high
  • land reform was introduced under Presidential Decree Nos. 2 and 27.
  • declared Martial Law
  • cronyism and nepotism were rampant
  • foreign debt became higher and laws became tougher
  • there was a negative figure in national income
  • public funds were corrupted and missing
  • economic crisis
  • was exiled to Hawaii during the height of EDSA I
Administration of Corazon Aquino (1986-1992)
  • first woman president of the country
  • put into power through a bloodless revolution (EDSA I)
  • Democracy was established once again
  • Privatization was the centerpiece of her reform
  • Comprehensive Agrarian Reform Program (CARP): emphasize economic conditions of the farmers through Republic Act 6657
  • initiated moral recovery among Filipinos
  • approved the Value Added Tax (VAT) as a tax reform measure
Administration of Fidel Ramos (1992-1998)
  • industrialization was the aspiration
  • implemented Philippines 2000 – Medium Term Philippine Development Plan
  • objective: economic improvement and upliftment through global competitiveness and people empowerment
  • continued to attract foreign investors to enter the country and put their capital in our industries
  • implemented various tax reforms to have funds
  • “The Sick Man of Asia” (no longer called today)
  • became controversial with the implementation of the Expanded Value Added Tax (E-VAT) to reform the tax collection
  • our country approved and joined the General Agreement on Tariffs and Trade (GATT)
Administration of Joseph E. Estrada (June 30, 1998 – January 20, 2001)
  • 13th president
  • most celebrated Philippine president
  • former movie actor, he became a politician
  • involved in different controversies particularly when he was the top man of the country
  • most controversial was the impeachment case which led to his imprisonment
  • economic agenda zeroed in on the alleviation of poverty
  • battle cry was “ERAP Para sa Mahirap.”
  • gained the heart and support of the Filipino masses
  • captured the hearts of Filipinos through his charisma
  • He was not able to fulfill his plans and promises to the poor people because o the sudden change in government leadership
Administration of Gloria M. Arroyo (January 20, 2001 – 2010)
  • 2nd woman president
  • was put in power through the EDSA People Power II after Erap’s controversial impeachment case
  • focused all its efforts to implement the previous administration programs, which were not attained
  • emphasized importance of transparency in the government, to check graph and corruption
  • facing many problems like peace and order, high prices, insurgency, attempt to destabilize the government
  • trying to improve projects and programs that have already been implemented by the past administration, particularly projects related to the upliftment of the economic status of the poor
  • launched the program: Pagkain sa Bawat Mesa
  • tried to stabilize the peso-dollar exchange rate
 
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Posted by on October 5, 2013 in Uncategorized

 

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