Peter Manga I will engage you in a civil conversation, attempt to deflate your immense ego. IDIOCY 101 : ECONOMIC CHANGES UNDER MARCOS To hasten the economic development, President Marcos implemented a number of economic programs. - marcos looted PH gold reserves from the central bank : amazon/Buddha-gold-myth-Marcos-Central/dp/0940777037/ref=la_B001KCH3FW_1_3?s=books&ie=UTF8&qid=1407900872&sr=1-3 To help finance a number of economic development projects, ... the government engaged in foreign borrowings. - In one estimate, Marcos pocketed about 33% of the country’s total borrowings during his term, more than $8 billion. : bulatlat/news/4-33/4-33-marcosdebt.html The governments efforts resulted in the increase of the nations economic growth rate to an average of six percent to seven percent from 1970 to 1980. - During his term PH hit its highest Debt-to-GDP Ratio of more than 90% and our currency exchange rate plummeted by nearly 80% : ourknowledge.asia/our-knowledge-blog/which-philippine-president-caused-the-downfall-of-the-philippines-economy Another major source of economic growth of the country was the remittances of overseas Filipino workers. - migrant workers advocacy group Migrante asserts that Marcos pushed for the labor export policy for two reasons : to quell dissent brought about by massive domestic unemployment and the political crisis, and to consolidate foreign exchange from remittances : gmanetwork/news/story/275011/pinoyabroad/ofwguide/how-martial-law-helped-create-the-ofw-phenomenon are these sources factual enough to deflated your fallen hero ? if not, theres more proof to be found. worldwide.
Posted on: Wed, 13 Aug 2014 05:36:14 +0000