Professor Emmanuel de Dios, of the University of the Philippines’ School of Economics, said this was the reason the record of Marcos should not be viewed in morsels of good numbers.“You have to take the entire period,” De Dios told ABS-CBN News in 2017. “You did experience high growth in the early years, but you also experienced the worst recession in latter years,” he said.
Days after declaring martial law, state agents arrested and imprisoned Teodoro Locsin Sr. of the Philippines Free Press, Chino Roces of Manila Times and journalists Amando Doronila, Luis Beltran, Maximo Soliven, Juan Mercado and Luis Mauricio.Some news outlets were allowed to operate, especially those that were owned by Marcos’ friends like Roberto Benedicto of the Kanlaon Broadcasting System and the Philippine Daily Express.
From P127 and P89 daily income for skilled workers and workers without school training in 1962, wages fell sharply to P35 and P23 in 1986. “Certificates for gold bullion valued in the billions of dollars were allegedly among the personal properties he, his family, his cronies and business partners surreptitiously took with them when the US provided them safe passage to Hawaii,” the report said.
The corruption was so outrageous that it earned the distinction of being “The Greatest Robbery of A Government” from the Guinness World Records.On Dec. 21, 1990, the Swiss Federal Supreme Court decided that the dictator and his family hid $356 million in Swiss banks. The Philippine Supreme Court, in 2003, allowed the forfeiture of the finances in favor of the government of the Philippines.
Amnesty International said there were 107,200 victims, mostly killed, tortured, and imprisoned by the Marcos regime.HRVVMC data showed that 2,326 were either killed or disappeared, never to be found. AI said at least 3,200 innocent people were killed.
In addition, the highest ever inflation rate happened during marcos’ time as president. Sept 1983, 62.8%.
The bias report
Thanks for the data. Indeed, there were certain years of growth as well as negative ones but we need to look at other economic indicators like inflation rates, competitiveness indices, etc. External debt ballooned! However, why 1961 when he was still not elected? Where’s 1965?
funny how you dont credit Marcos in fighting off the communist threat at the time. this article is so one-sided. this is why no one believes the media any longer.
And from 1986 to 1992. Cory Aquino sold some government corporation, private sector controls the selection of economic zone, & was not able to protect the interest of farmers 🥱🥱🥱It was the worst decade after the 1986 Edsa Revolutions.
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