 Critics have pointed out an elusive state of the country's development as the period is marred by a sharp devaluing of the Philippine Peso from 3.9 to 20.53.The overall economy experienced a slower growth GDP per capita, lower wage conditions and higher unemployment especially towards the end of Marcos' term after the 1983–1984 recession.The recession was triggered largely by political instability following Ninoy's assassination, high global interest rates, Severe global economic recession, and a significant increase in global oil price, the latter three of which affected all indebted countries in Latin America, Europe, and the Philippines was not exempted.