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The political and economic aspects of the Philippines is not only fascinating
but also forms the most crucial factor beneath its progress and development.
In Philippines, the political system is an amalgamation of the organized framework
of a presidential, representative, and democratic republic whereby the president
is both the head of state and the head of government within a pluriform multi-party
system. This political system in Philippines revolves around the three separate
and autonomous yet interdependent branches: the legislative branch (the law-making
body), the executive branch (the law-enforcing body), and the judicial branch
(the law-interpreting body).Under the leadership of the President, executive
power is implemented by the government and the legislative power is exercised
by the Senate and the House of Representatives.
In 2004, the World Bank ranked the economy of Philippines as the 24th largest
economy based on purchasing parity. The developing nation of Philippines is
acknowledged as one of the newly industrializing countries in the world. Agriculture
and industry, particularly food processing, textiles and garments, and electronics
and automobile parts comprises of the most important sectors of the Philippine
economy. Industries are predominantly located on the urban area and particularly
Manila experiences a higher concentration of industries. Philippines has a enormous
potential in mining and the recent discovery of natural gas at the Palawan islands
will make an active contribution to the Philippines’ substantial geothermal,
hydro, and coal energy reserves.
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