How did the corruption during Ferdinand Marcos Sr.’s dictatorship affect the long-term development of the Philippine economy?
Answer (1)
The dictatorship of Ferdinand Marcos Sr., particularly from 1972 to 1986, was marked by massive corruption and misuse of public funds. Although his administration launched many infrastructure projects like roads, hospitals, and cultural centers, much of the funding came from foreign loans. A large portion of these funds was reportedly lost to corruption, favoring cronies and private enrichment instead of national development.During this period, the Philippines' external debt skyrocketed. By the time Marcos was ousted, the country owed more than $26 billion. Much of this debt was tied to incomplete or poorly executed projects. Some of these projects were “white elephants”—expensive but useless investments that did not improve people’s lives.This legacy of debt burdened future administrations. Even after Marcos left, the Philippines had to continue paying these debts for years, taking away funds that could have been used for health care, education, and job creation. Trust in government institutions also weakened, making it harder to attract honest investments and long-term partnerships.In the long term, the economic damage caused by corruption created deep poverty, social inequality, and a weakened public system. It also sent a warning to future leaders and generations about the dangers of unchecked power and lack of accountability.
