An overview of the country of the philippines

philippines country profile

It also includes provisions to modify and limit the tax incentives granted to certain businesses and proposes tax amnesty in certain areas of tax collection. Prepared by our U.

Philippines population

Because it was under Spanish rule for years and under U. The political situation in the Philippines is stable. Industry had the fastest growth 6. The Philippines takes its name from Philip II , who was king of Spain during the Spanish colonization of the islands in the 16th century. The Duterte administration is attempting to end one of the longest running and most debilitating militant insurgencies in Southeast Asia. Inflation tapered off starting November at 6. It also includes provisions to modify and limit the tax incentives granted to certain businesses and proposes tax amnesty in certain areas of tax collection. It is the 73rd-largest country in the world by surface area, but with a population of some 98 million people, making it the seventh most populous country in Asia, and the 12th most populous in the world. The Philippines is made up of thousands of islands The country, once a Spanish colony, eventually gained its independence from US occupation in DW recommends. Although gradually improving, the high level of inequality nevertheless remains a challenge; the incidence of poverty varies significantly across regions. The central bank expects inflation to remain within the target range of two to four percent in until but remains cautious amidst the stronger and prolonged episodes of the dry spell and the continued rise in global crude oil.

The Philippines is located close to the equator on the so-called Pacific Ring of Fire - or typhoon belt - a large Pacific region where many volcanic eruptions and earthquakes occur. Industry had the fastest growth 6.

philippines economy

The combination of falling inflation and slowing growth led the central bank to cut benchmark interest rates by 25 basis points in Mayunwinding part of the basis points of interest rate hikes it undertook in DW recommends. Consumer spending -- supported by remittances from more than ten million Filipino migrants and overseas workers -- remained the major component of domestic demand but slowed in up 5.

More than 90 percent of Filipino people are of the Christian faith, while five percent practice Islam. The confrontation resulted not only in the ouster and exile of Marcos but also in the restoration of democratic government to the Philippines Contemporary Filipinos continue to grapple with a society that is replete with paradoxesperhaps the most obvious being the presence of extreme wealth alongside tremendous poverty.

The U.

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Philippines country profile