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India Development Update, April 2015The India Development Update for April
 2015 has two main aims. First, it reports on the key
 developments over the past six months in Indias economy, and
 places these in a longer term and global context. Based on
 these developments and on policy changes over the period, it
 updates the outlook for Indias economy and social welfare.
 Second, the update provides a more in-depth examination of
 selected economic and policy issues, and analysis of
 medium-term development challenges. It is intended for a
 wide audience, including policymakers, business leaders,
 financial market participants, and the community of analysts
 and professionals engaged in Indias evolving economy.
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Philippine Economic Update, October 2015The Philippines is among the strongest performers in the region, bucking the trend. In the first half (H1) of 2015, among the major economies in the region, the only countries to accelerate their quarterly growth rates were the Philippines, from 5 to 5.6 percent, and Vietnam. In spite of this acceleration, for the two quarters combined, Philippine growth rate came out at 5.3 percent—its lowest half year growth rate since 2011. On the demand side, the strong performance of private domestic demand at 8.1 percent, supported by record low inflation and robust remittances, drove GDP growth. However, the slow pace of public spending and the contraction in net exports pulled down GDP growth. On the supply side, the onset of El Niño led to stagnant agriculture growth. Meanwhile, growth in industry and services was respectable, with both sectors growing by around 5.8 percent. In Q3, available high frequency data suggest an improving economy, in particular, an acceleration in government spending.
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Rwanda Economic Update, June 2015Growth recovery in 2014 is certainly
 good news. This time last year, we estimated the 2014 growth
 rate at 5.7 percent. Against all odds, the economy grew by 7
 percent. However,growth outlook is not entirely bright.
 While the oil price decline has brought a positive impact
 oninflation and trade, recent economic indicators show some
 weaknesses. Also, global risks (e.g.,an increase in US
 interest rate, slowdown of Chinese and Euro economies, and
 an appreciationof the US dollar) are emerging. In the medium
 to long-term, Rwanda’s economic resiliencewill not be
 achieved without keeping high investment rates. However, the
 current investmentmodel (high public investment funded by
 aid) is not likely to be sustainable; given
 capacityconstraints to maintain high public investment and
 possible decline in aid relative to GDP inthe medium-term.
 Finding alternative sources of development financing is a
 key determinantof future growth. Development of the
 financial sector is critical to mobilize both domestic
 andforeign saving for financing development. This is the
 message of the Eighth Edition of theRwanda Economic Update (REU).