Philippines 2000 was the

socio-economic Socioeconomics (also known as social economics) is the social science that studies how economic activity affects and is shaped by social processes. In general it analyzes how modern societies progress, stagnate, or regress because of their loc ...

program of former Philippine

president President most commonly refers to: *President (corporate title) * President (education), a leader of a college or university * President (government title) President may also refer to: Automobiles * Nissan President, a 1966–2010 Japanese ...

Fidel V. Ramos. The plan envisioned the Philippines achieving a

newly industrialized country The category of newly industrialized country (NIC), newly industrialized economy (NIE) or middle income country is a socioeconomic classification applied to several countries around the world by political scientists and economists. They represe ...

status by the year

2000 File:2000 Events Collage.png, From left, clockwise: Protests against Bush v. Gore after the 2000 United States presidential election; Heads of state meet for the Millennium Summit; The International Space Station in its infant form as seen from S ...

and beyond.

Effects and legacy

The Philippines 2000 platform was widely successful, making it one of the greatest legacies of the Ramos administration to the Philippines. Ramos was successfully able to open the then-closed Philippine economy and break Marcos-era formed monopolies, especially with regard to

Philippine Airlines Philippine Airlines (PAL), a trade name of PAL Holdings, Inc. (Philippine Stock Exchange, PSEPAL (Philippine Air Lines until 1970), is the flag carrier airline of the Philippines. Headquartered at the Philippine National Bank, PNB Financial Cen ...

and the

Philippine Long Distance Telephone Company The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...

, which were privatized and de-monopolized during his tenure. He was also able to resolve the power crisis in the Philippines through privatization of power plants and the construction of new ones. The reforms spurred additional investment into the Philippines. Other economic reforms achieved during the Ramos administration was the re-adjustment of the

value added tax A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally. It is levied on the price of a product or service at each stage of production, distribution, or sale to the en ...

from four percent to an

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster glo ...

and

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...

-mandated ten percent. The success of the reforms paved the way for the Philippines to be called "Asia's New Tiger". Economic reforms instituted during the Ramos era enabled the Philippines to experience growth rates of up to nine percent annually, and enjoy annual budget surpluses well into his tenure. The economic reforms instituted in the Philippines 2000 platform would have an effect on how the Philippines would be affected in the

1997 East Asian financial crisis The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1 ...

. Perhaps one of the greatest legacies of Philippines 2000 regarding peace and stability was the 1996 peace treaty signed between the Philippine government and the

Moro National Liberation Front The Moro National Liberation Front (MNLF; ar, الجبهة الوطنية لتحرير مورو) is a political organization in the Philippines that was founded in 1972. It started as a splinter group of the Muslim Independence Movement. The M ...

, ending over thirty years of conflict on the island of

Mindanao Mindanao ( ) ( Jawi: مينداناو) is the second-largest island in the Philippines, after Luzon, and seventh-most populous island in the world. Located in the southern region of the archipelago, the island is part of an island group of ...

Successors

The Philippines 2000 program would be succeeded by other socio-economic programs: Angat Pinoy 2004, instituted by

Joseph Estrada Joseph Ejercito Estrada, (; born Jose Marcelo Ejercito; April 19, 1937), also known by the nickname Erap, is a Filipino politician and former actor. He served as the 13th president of the Philippines from 1998 to 2001, the 9th vice preside ...

, the ten-point Strong Republic agenda instituted by

Gloria Macapagal Arroyo Maria Gloria Macaraeg Macapagal Arroyo (, born April 5, 1947), often referred to by her initials GMA, is a Filipino academic and politician serving as one of the Deputy Speaker of the House of Representatives of the Philippines, House Deputy Spe ...

, Daang Matuwid agenda instituted by

Benigno Aquino III Benigno Simeon Cojuangco Aquino III (; February 8, 1960 – June 24, 2021), also known as Noynoy Aquino and colloquially as PNoy, was a Filipino politician who served as the 15th president of the Philippines from 2010 to 2016. The son of ...

, and the

DuterteNomics DuterteNomics is a catch-all term referring to the socioeconomic policies of Rodrigo Duterte, the 16th president of the Philippines. A significant part of these policies include the development of infrastructure and industries in the Philippin ...

agenda instituted by

Rodrigo Duterte Rodrigo Roa Duterte (, ; born March 28, 1945), also known as Digong, Rody, and by the initials DU30 and PRRD, is a Filipino lawyer and politician who served as the 16th president of the Philippines from 2016 to 2022. He is the chairperson ...

References

{{reflist Economic history of the Philippines Presidency of Fidel V. Ramos

Effects and legacy

Successors

See also

References