Economic Growth
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Economic Growth
The economic goals in the Philippines are many. The most important include equity, economic growth, more employment opportunities and stability among others.
Economic factors that affect the Philippines' economic growth include inflation rates, exchange rates, fiscal policies, and infrastructure development. Political factors such as stable governance, corruption levels, and policy consistency also play a significant role in influencing the country's economic growth trajectory.
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The contribution of entrepreneurship in the Philippines economy is impressive. There is a high demand for entrepreneurs in the Philippines. There were over 830,000 entrepreneurs in the Philippines in 2011.
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The impact taxes have on the poor in the Philippines is holding the poverty rate at a higher percentage and slowing the economic growth of the country.
The Philippines faced challenges such as political instability, corruption, economic inequality, natural disasters, and insurgency. These factors have hindered economic growth, social progress, and political stability in the country.
Types of economic growth: There are two types of economic growth: 1.Balanced Economic Growth 2.Un-balanced Economic Growth 1.Balanced Economic Growth: All the economic sectors are growing at same ratio or percentage,this growth is known as balanced economic growth. 2.Un-balanced Economic Growth: When some sectors of the economy are growing faster than others,and their rate of growth is different to each other,this growth is known as un-balanced economic growth.