UNDER THE MARCOSES, IT WAS PHILIPPINES' GOLDEN ERA?

While it is true that there were several reported structures built during that time, the nation was heavily in debt. From 1978 through 1991, the coujntry's debt was more than 200 percent of exports, with a high point in 1985, Marcos' final full year in office. Although rumors have circulated about how cheap the products were during Marcos' reign, the Philippine Statistics Authority (PSA) has recorded that their reign had the highest initiation rate to date.

According to the Bureau of Labor and Employment Statistics Authority, under Marcos' dictatorship, the unemployment rate grew, and poverty persisted. The significant underemployment brought on by the martial law regime from 10% to 33% underemployed reflects the worsening of welfare for Filipino families and increasing poverty. A single man having ultimate authority over an entire economy might set the country's economic progress decades behind the line.

Source: Schema SLU

References:

Lanzona, L. (2015, September 25). The economic ruins of martial law. Business Mirror. Retrieved August 03, 2022 from https://businessmirror.com.ph/2015/09/25/the-economic-ruins-of-martial-law

Taxpayers to shoulder Marcos debt until 2025-lbon. (2007, April 07), GMA Network. Retrieved August 03, 2022 from https://www.gmanetwork.com/news/news/nation/37314/taxpayers-to-shoulder-marcos-de bt-until-2025-ibon/story/