Garcia and Macapagal Administrations

Carlos P. Garcia (1957-1961)

  • Continued Magsaysay's term after his death.
  • Nacionalista party.
  • Austerity policy: temperate spending, thrift, productive investment, efficiency.
  • "Filipino First Policy": prioritized Filipinos in business and land ownership.
  • Revival of Philippine culture: Jose Rizal Centennial Commission.
  • Founder of the Association for Southeast Asia (precursor to ASEAN).
  • Challenges: Graft and corruption.

Diosdado Macapagal (1961-1965)

  • Liberal Party.
  • Reformist president: vowed to root out graft and corruption.
  • Land Reform Code: aimed to establish family-sized farms, improve farmers' status, increase productivity, apply labor laws, provide land settlement, and make farmers self-reliant.
  • Decontrol policy: favored foreign investors, devalued peso from Php2Php2 to Php3.90Php3.90 per $1 USD.
  • Changed Independence Day celebration from July 4 to June 12.
  • MAPHILINDO (Malaya, Philippines, and Indonesia): precursor to ASEAN.

Key Policies & Accomplishments:

  • Garcia: Austerity, Filipino First Policy, revival of Philippine culture.
  • Macapagal: Land reform, change of Independence Day, decontrol policy.