The Philippines declared independence from Spanish rule over 120 years ago. General Emilio Aguinaldo was responsible for making this claim, but it wasn’t until 1962 that then-President Diosdado Macapagal made it a public holiday through a presidential proclamation. The Filipino flag was unfurled for the first time on June 12, 1898. The nation is considered an emerging market and a newly industrialized country.
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