The PCCI said it is backing the enactment of a proposed law that will condone some P57 billion in debt incurred by land reform beneficiaries. | AldenMonzonINQ /PDI
The PCCI official cited that the services sector has expanded significantly, contributing 61 percent, while the industry sector has a share of 30 percent.
“Putting this into perspective, agriculture accounted for one-quarter of the country’s GDP during the 1980s and almost one-third in the 1970s. We were a net exporter of agricultural products in the 1980s but as of the 1990s, we have become net importers as exports fell behind, outpaced by imports,” Barcelon said, but noted that the sector still provides employment for 25 percent of the country’s labor force.
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