What are the economic policies of Ferdinand Marcos?

Question

What are the economic policies of Ferdinand Marcos?

Answer 1

♦ First term:

President Marcos wanted the immediate construction of roads, bridges and public works which includes 16,000 kilometers of feeder roads, some 30,000 lineal meters of permanent bridges, a generator with an electric power capacity of one million kilowatts (1,000,000 kW), water services to eight regions and 38 localities.

He also urged the revitalization of the Judiciary, the national defense posture and the fight against smuggling, criminality, and graft and corruption in the government.

♦ Second term:

Economic situation - Overspending in the 1969 elections led to higher inflation and the devaluation of the Philippine peso. Further, the decision of the oil-producing Arab countries to cut back oil production, in response to Western military aid to Israel in the Arab-Israeli conflict, resulted in higher fuel prices worldwide. In addition, the frequent visits of natural calamities brought havoc to infrastructures and agricultural crops and livestock. The combined external and internal economic forces led to uncontrolled increase in the prices of prime commodities.