| Popis: |
Political stability, increasing investor confidence, and an improved energy situation fueled renewed economic growth in the Philippines during 1994. President Fidel V. Ramos still faced considerable opposition in his effort to reform the economic and political systems. In the political realm, Ramos continued efforts to overcome the executive-legislative gridlock, negotiate peace with the various rebel groups, and enhance diplomatic and trade relations with Pacific Rim and European countries. In the economic realm, Ramos worked to implement an expanded value-added tax (VAT), increase market competition, further the privatization of public enterprises, and complete the construction of new energy-production facilities. |
