Falling Income The Philippine GDP per capita shrank to US$990 in 2000 from US$1,129 in 1997 while the GNP per capita contracted to US$1,033 from US$1,197. This was a result of the Asian financial crisis, which caught up with the Philippines in 1998. After expanding 5.2 share in 1997, the countrys GDP backpedaled by 0.5 per centum in 1998. It grew by only 3.4 portion in 1999 and 4 portion in 2000. With a high population festering calculate of 2.3 percent annually, economic growth in 1999 and 2000 did little to mend the real per capita income of Filipinos. Peso Drops 14 Times vs. US horse According to Senator Ralph Recto, the countrys per capita income has barely grown in the past 21 years. He tell that the per capita income of P12,913 in 2001 is only P318 higher than P12,595 in 1980. In todays pesos, the P318 increase in 21 years amounts to aim at all. he said. Senator Recto also noted that the value of the peso has depreciated by as much as 1,373 percent against the dollar sign mark since 1960. The Poor and the Rich In its 2000 survey of family income and expenditure, the NSO said that the sightly income of the populations tenth decile, representing the richest 10 percent of the Filipinos, was 14 meter higher than the average earnings of the first decile, representing the poorest 10 percent.
distributively decile was representing about 8 million Filipinos. Poverty Threshold: P13,916 tour the per capita income declined between 1997 and 2000, prices of consumer goods and go increased by almost 20 percent during the three-year purpose or over six percent annua lly. The National statistical Coordination B! oard (NSCB) was forced to raise by 23 percent the national per capita poverty threshold to P13,916 in 2000 from P11,319 in 1997. unequalised Regional evolution The Asian Development Bank (ADB) reported that pipe Manilas per capita gross regional municipal product (GRDP) in 2000 was to a greater extent than doubly that of the national average and more than five times that of...If you call for to get a full essay, order it on our website: OrderCustomPaper.com
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