12 January
“We must be unified in the resolve that these burdens should not be allowed to entrap us into seeking heady and quick solutions which later turn false and ineffectual.”
– Jose Fernandez Jr., Central Bank Governor
18 January
First local election
10 May
“Amidst strong calls for a debt moratorium following the difficult negotiations for a multi-year restructuring of government’s foreign debt, MBC highlights the negative effects of this move.”
– MBC statement
26 May
RA 6655 provides for free public secondary education.
10 June
President Corazon Aquino signs Agrarian Reform (CARP) Law.
July
MBC releases maiden issue of the US-Philippines Business News, a monthly newsletter for
the Philippines-US Business Council.
28 July
“If our people lose faith in the judicial system as the refuge of their rightful claims to justice, the protection of their freedoms, the defense of their rights, and the safeguarding of their dignity, can they keep faith that they are, indeed, citizens of a democratic and just society?”
– Marcelo Fernan, Supreme Court Chief Justice
19 August
EO 333 revokes one-airline policy issued in 1973 by Pres. Marcos.
13 September
RA 6675 provides for the production and adequate supply of medicines identified by
their generic names.
2 December
RA 6683 provides benefits for early retirement and voluntary separation from government office as well as involuntary separation of civil service officers and employees.