
Originally Posted by
æRLO
I believe the last time it didn't grow was 1998. 1983 was when the Philippines defaulted. Akong point is as long as that GDP growth (%) is not in the negative or zero, theoretically, there's growth. 1983, we know why that happened. And 1998 was because of Asia's economic collapse, and the country in a period of instability. A country can have no growth even if they are not in a debt crisis.
It really was a miracle in 2008/09, when the global economy collapsed and virtually all the other ASEAN countries' GDP growth contracted into the negatives. And Philippines, despite being the sick man of Asia, managed to keep growth, albeit at a crawl (something like 1% growth). And you know what GMA got for her effort? A media campaign of mudslinging. I don't think she gets enough credit for that.