Philippines Quarterly Update, September 2011 : Solid Macroeconomic Fundamentals Cushion External Turmoil
Author(s)
World Bank GroupKeywords
LIQUIDITYPUBLIC EXPENDITURE
ACCOUNTABILITY
CENTRAL BANK
CURRENT ACCOUNT SURPLUS
INTERNATIONAL FINANCE
FINANCIAL CONDITIONS
INTERNATIONAL MARKETS
PUBLIC EXPENDITURE REVIEW
RISK AVERSION
POLITICAL STABILITY
DEBT PAYMENT
RESOURCE MANAGEMENT
FISCAL BALANCE
PUBLIC FINANCES
HOUSEHOLD INCOME
HIGHER GOVERNMENT SPENDING
LOCAL CURRENCY
PRIVATE CONSUMPTION
OIL PRICES
EQUITY CONSIDERATIONS
FINANCIAL SHOCKS
DEFAULT RATING
FIXED CAPITAL
TAX BASE
TAX
TAX POLICY
EQUITY MARKETS
NATIONAL BUDGET
CREDIT DEFAULT SWAPS
GLOBAL MARKETS
UNCERTAINTY
BOND SPREADS
RULE OF LAW
LIVING STANDARDS
CAPITAL INVESTMENT
SOCIAL WELFARE
MATURITY
FOREIGN EXCHANGE RESERVES
JUDICIAL SYSTEM
PROGRAMS
FOREIGN FINANCIAL SERVICE
TAX POLICIES
CAPITAL ACCUMULATION
FOREIGN FUNDS
ECONOMIC UNCERTAINTIES
DEPOSIT
FINANCIAL MARKET
DEPOSITS
BOND YIELDS
RESERVE
BOND
GOVERNMENT REVENUE
FINANCIAL ACCOUNT
BANK LENDING
BONDS
FOREIGN INVESTORS
DOMESTIC INVESTMENT
BUDGETING
GOVERNMENT SECURITIES
PORTFOLIO
TAX EFFORT
POVERTY REDUCTION
COMMODITY PRICES
FINANCIAL MANAGEMENT INFORMATION SYSTEM
FOREIGN EXCHANGE TRANSACTIONS
WARRANTS
CREDIT RATINGS
TREASURY BILL RATES
CDS
PORTFOLIO INFLOWS
INVESTMENT CLIMATE
TRANSPARENCY
CONTRACTUAL OBLIGATIONS
CAPITAL TRANSFERS
FISCAL CONSOLIDATION
HEALTH CARE
FOREIGN PORTFOLIO INVESTMENTS
NATIONAL STATISTICS
TRANCHE
FISCAL DEFICIT
GOVERNMENT POLICY
TRADE BALANCE
AGGREGATE DEMAND
TOTAL SPENDING
INVESTMENT SPENDING
ACCOUNTING
RETURNS
RESERVE REQUIREMENT
FINANCIAL CRISIS
DEBT MANAGEMENT
NET CAPITAL
TAX ADMINISTRATION
CAPITAL INFLOWS
HUMAN CAPITAL
INSURANCE
TRADING
DOMESTIC BORROWING
PUBLIC EXPENDITURE EFFICIENCY
FINANCIAL MARKET PARTICIPANTS
SOVEREIGN DEBT
RESERVE REQUIREMENTS
FISCAL DISCIPLINE
CREDIT QUALITY
TAX SYSTEM
OPEN ECONOMY
NATIONAL EXPENDITURE
MONETARY POLICY
TAX COLLECTION
PUBLIC UTILITIES
DEBT BURDEN
FINANCIAL VARIABLES
PUBLIC WORKS
CASH TRANSACTIONS
ECONOMIC CONDITIONS
FOREIGN RESERVES
EXPENDITURES
BALANCE OF PAYMENTS
PROGRAM IMPLEMENTATION
EXTERNAL DEBT
BENEFICIARIES
FOREIGN DIRECT INVESTMENTS
HOME MORTGAGE
CONSUMER PRICE INDEX
FOREIGN BANKS
BASIS POINTS
MUTUAL FUND
BANKING SECTOR
SHORT-TERM DEBT
HUMAN RESOURCE
INVESTMENTS IN EQUITIES
CREDIT DEFAULT
GLOBAL ECONOMY
PRICE INDICES
SAFETY NET
EXCHANGE RATE
TREASURY BILL
FISCAL AUTONOMY
GOVERNMENT SPENDING
ECONOMIC GROWTH
NATIONAL STATISTICS OFFICE
SOCIAL PROGRAMS
STOCK MARKET
INFLATIONARY PRESSURES
LABOR MARKET
TAX COLLECTIONS
CREDIT RISK
CASH TRANSFER
ARBITRAGE
NATIONAL DEFENSE
GOVERNMENT BUDGET
GOVERNMENT DEBT
CAPITAL FORMATION
LONG-TERM OBLIGATIONS
DISBURSEMENT
ACCOUNTS RECEIVABLES
FINANCIAL ASSISTANCE
INFORMATION SYSTEM
EMERGING MARKETS
FISCAL POSITION
FINANCIAL RESOURCES
NEGATIVE SHOCKS
EXPENDITURE
FINANCIAL MARKETS
FOREIGN EXCHANGE
STOCK EXCHANGE
TOTAL EXPENDITURES
TREASURY
REMITTANCES
LIABILITY
GROWTH RATE
GENERAL APPROPRIATIONS
FOREIGN LOANS
MICROENTERPRISES
BUDGET ALLOCATION
LEASE AGREEMENTS
EXTERNAL SHOCKS
GLOBAL TRADE
EDUCATION SERVICES
LOCAL BANKS
FISCAL POLICY
LIQUIDITY MANAGEMENT
EQUIPMENT
BUDGET CYCLE
EMERGING ECONOMIES
DEBT CRISIS
FINANCIAL MANAGEMENT INFORMATION
LOCAL GOVERNMENT
FINANCIAL INSTITUTIONS
INFLATION
CAPITAL OUTLAYS
CIVIL SOCIETY ORGANIZATIONS
REMITTANCE
DOMESTIC LIQUIDITY
HEALTH WORKERS
LONG-TERM LOANS
SOCIAL SERVICES
PUBLIC FINANCE
ECONOMIC DEVELOPMENTS
YIELD CURVE
DEBT OUTSTANDING
SOVEREIGN BOND
FINANCIAL INTERMEDIATION
FINANCIAL MANAGEMENT
AGRICULTURAL COMMODITIES
EXPENDITURE PROGRAM
FINANCIAL SERVICE PROVIDERS
RETURN
EQUITY INDEX
NATIONAL GOVERNMENT
BUDGET DEFICIT
FOREIGN CURRENCY
PUBLIC SPENDING
INFRASTRUCTURE PROJECTS
ECONOMIC DEVELOPMENT
FOREIGN TRADE
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http://hdl.handle.net/10986/21130Abstract
The Philippines Quarterly Update
 provides an update on key economic developments and policies
 over the past three months. It also presents findings from
 recent World Bank work on the Philippines. As of September
 2011 due to sluggish exports and government spending,
 economic growth was lower than expected. The Philippine
 economy continued to decelerate during the first half of
 2011 as investment and exports contracted. Private
 consumption growth remained robust, rising by 5.4 percent in
 the first half of 2011 and contributing 3.6 percentage
 points to GDP growth in Q2 2011. A contraction in
 construction spending slowed down growth of fixed capital
 formation. On the supply side, the resilient services sector
 was the main source of growth. The Philippines' external
 position and macroeconomic fundamentals remain strong.
 Monetary policy remains accommodating, while the fiscal
 deficit is likely to fall below target. After a strong
 rebound in 2010, economic growth in 2011 is likely to remain
 around 5 percent with downside risks. The challenge for
 policymakers is to ensure that the Philippines continues to
 improve its competitiveness, while cushioning the economy
 from adverse external shocks.Date
2015-01-07Type
Economic & Sector Work :: Economic Updates and ModelingIdentifier
oai:openknowledge.worldbank.org:10986/21130http://hdl.handle.net/10986/21130
Copyright/License
CC BY 3.0 IGOCollections
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