Joseph Ejercito Estrada Marcelo

Joseph Ejercito Estrada Marcelo

Third President of the Fifth Republic of the Philippines

Birthdate: April 19,1937

Term: 1998 - 2001

A Filipino film actor and director, later politician. He resigned after the impeachment trial against him collapsed. He was accused of accepting over eight million dollars in bribes to protect the continuation of an illegal lottery game operating throughout the Philippines. As a result of the impeachment, a general strike was held throughout the Philippines calling for Estrada's resignation. . Estrada was then accused of plunder and corruption; on September 12, 2007, he was found guilty and sentenced to "Reclusion Perpetua." A month later, he was granted clemency by President Macapagal-Arroyo and released from prison, upon promising not to run for any position.

Economic Program of the Estrada Aministration:


The Estrada administration is said to have a strong economic team, however the latter's administration failed to capitalize on the gains of the previous administration. Foreign investors' confidence was damaged during the BW resources scandal when Estrada was accused of exerting influence in an investigation of a friend's involvement in stock market manipulation. Economic performance was hurt by the Asian Financial Crisis and climatic disturbance that caused extremes of dry and wet weather. Toward the end of Estrada's administration, the fiscal deficit had doubled to more than P100 billion from a low of P49 billion in 1998. Despite such setbacks, the rate of GNP in 1999 increased to 3.6 percent from 0.1 percent in 1998, and the GDP posted a 4.0 percent growth rate, up from a low of -0.5 percent in 1998. Debt reached P2.1 trillion in 1999. The inflation rate came down from 11 percent in January 1999 to just a little over 3 percent by November of the same year. This was in part due to the agricultural program Agrikulturang Maka Masa, through which it achieved an output growth of 6 percent, a record high at the time. However a major bank failure in April 2000 and the impeachment and subsequent departure of President Estrada in the beginning of 2001 led to lower growth.

To improve the economic status in rural areas. He implemented the Comprehensive Agrarian reformed program. Farmers were given alternative income generating activities. Small and medium enterprises were develop to help the rural folks compete globally. Develop program to attract foreign investors and organized 16 regional centers for business.