Teatro, Luiz James R.

11 – 28 – 23
BSCE – 1 SocSci – 131

ACTIVITY 8
I.
1. a 6. a
2. c 7. c
3. a 8. c
4. b 9. c
5. a 10. a

II.
1. Fidel V. Ramos
2. Benigno Aquino III
3. Corazon Aquino
4. Fidel V. Ramos
5. Gloria Macapagal-Arroyo
III. ESSAY
The 5th Philippine Republic, spanning from 1986 to the present, witnessed significant political,
economic, and social changes under various presidencies. Corazon Aquino, the first president of
this era, faced the daunting task of restoring democracy after the People Power Revolution. She
implemented land reform through the Comprehensive Agrarian Reform Program (CARP), aiming
to address social inequalities. However, economic challenges persisted, with issues like high
inflation and a large budget deficit.
Fidel V. Ramos, who succeeded Aquino, focused on economic liberalization through
deregulation and privatization. His administration aimed to attract foreign investment, resulting
in economic growth, but challenges like the Asian financial crisis in 1997 posed setbacks. Joseph
Estrada, elected in 1998, prioritized pro-poor policies but faced allegations of corruption that
led to his impeachment in 2001. His presidency demonstrated the fragility of political stability in
the country. Estrada assumed office amid the Asian Financial Crisis. The economy did, however,
recover from it. From a low −0.6% growth in 1998 to a moderate growth of 3.4% by 1999. Like
his predecessor there was a similar attempt to change the 1987 constitution. The process is
termed as CONCORD or Constitutional Correction for Development.