The political and economic aspects of the Philippines is not only fascinating but also forms the most crucial factor beneath its progress and development. In Philippines, the political system is an amalgamation of the organized framework of a presidential, representative, and democratic republic whereby the president is both the head of state and the head of government within a pluriform multi-party system.This political system in Philippines revolves around the three separate and autonomous yet interdependent branches: the legislative branch (the law-making body), the executive branch (the law-enforcing body), and the judicial branch (the law-interpreting body). Under the leadership of the President, executive power is implemented by the government and the legislative power is exercised by the Senate and the House of Representatives. In 2004, the World Bank ranked the economy of Philippines as the 24th largest economy based on purchasing parity.The developing nation of Philippines is acknowledged as one of the newly industrializing countries in the world. Agriculture and industry, particularly food processing, textiles and garments, and electronics and automobile parts comprises of the most important sectors of the Philippine economy. Industries are predominantly located on the urban area and particularly Manila experiences a higher concentration of industries.
Philippines has a enormous potential in mining and the recent discovery of natural gas at the Palawan islands will make an active contribution to the Philippines’ substantial geothermal, hydro, and coal energy reserves.