Philippines Quarterly Update, September 2011 : Solid Macroeconomic Fundamentals Cushion External Turmoil

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 gov...

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Bibliographic Details
Main Author: World Bank Group
Format: Economic Updates and Modeling
Language:English
Published: Manila 2015
Subjects:
CDS
TAX
Online Access:http://documents.worldbank.org/curated/en/2011/09/20464159/philippines-quarterly-update-solid-macroeconomic-fundamentals-cushion-external-turmoil
http://hdl.handle.net/10986/21130
id okr-10986-21130
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic ACCOUNTABILITY
ACCOUNTING
ACCOUNTS RECEIVABLES
AGGREGATE DEMAND
AGRICULTURAL COMMODITIES
ARBITRAGE
BALANCE OF PAYMENTS
BANK LENDING
BANKING SECTOR
BASIS POINTS
BENEFICIARIES
BOND
BOND SPREADS
BOND YIELDS
BONDS
BUDGET ALLOCATION
BUDGET CYCLE
BUDGET DEFICIT
BUDGETING
CAPITAL ACCUMULATION
CAPITAL FORMATION
CAPITAL INFLOWS
CAPITAL INVESTMENT
CAPITAL OUTLAYS
CAPITAL TRANSFERS
CASH TRANSACTIONS
CASH TRANSFER
CDS
CENTRAL BANK
CIVIL SOCIETY ORGANIZATIONS
COMMODITY PRICES
CONSUMER PRICE INDEX
CONTRACTUAL OBLIGATIONS
CREDIT DEFAULT
CREDIT DEFAULT SWAPS
CREDIT QUALITY
CREDIT RATINGS
CREDIT RISK
CURRENT ACCOUNT SURPLUS
DEBT BURDEN
DEBT CRISIS
DEBT MANAGEMENT
DEBT OUTSTANDING
DEBT PAYMENT
DEFAULT RATING
DEPOSIT
DEPOSITS
DISBURSEMENT
DOMESTIC BORROWING
DOMESTIC INVESTMENT
DOMESTIC LIQUIDITY
ECONOMIC CONDITIONS
ECONOMIC DEVELOPMENT
ECONOMIC DEVELOPMENTS
ECONOMIC GROWTH
ECONOMIC UNCERTAINTIES
EDUCATION SERVICES
EMERGING ECONOMIES
EMERGING MARKETS
EQUIPMENT
EQUITY CONSIDERATIONS
EQUITY INDEX
EQUITY MARKETS
EXCHANGE RATE
EXPENDITURE
EXPENDITURE PROGRAM
EXPENDITURES
EXTERNAL DEBT
EXTERNAL SHOCKS
FINANCIAL ACCOUNT
FINANCIAL ASSISTANCE
FINANCIAL CONDITIONS
FINANCIAL CRISIS
FINANCIAL INSTITUTIONS
FINANCIAL INTERMEDIATION
FINANCIAL MANAGEMENT
FINANCIAL MANAGEMENT INFORMATION
FINANCIAL MANAGEMENT INFORMATION SYSTEM
FINANCIAL MARKET
FINANCIAL MARKET PARTICIPANTS
FINANCIAL MARKETS
FINANCIAL RESOURCES
FINANCIAL SERVICE PROVIDERS
FINANCIAL SHOCKS
FINANCIAL VARIABLES
FISCAL AUTONOMY
FISCAL BALANCE
FISCAL CONSOLIDATION
FISCAL DEFICIT
FISCAL DISCIPLINE
FISCAL POLICY
FISCAL POSITION
FIXED CAPITAL
FOREIGN BANKS
FOREIGN CURRENCY
FOREIGN DIRECT INVESTMENTS
FOREIGN EXCHANGE
FOREIGN EXCHANGE RESERVES
FOREIGN EXCHANGE TRANSACTIONS
FOREIGN FINANCIAL SERVICE
FOREIGN FUNDS
FOREIGN INVESTORS
FOREIGN LOANS
FOREIGN PORTFOLIO INVESTMENTS
FOREIGN RESERVES
FOREIGN TRADE
GENERAL APPROPRIATIONS
GLOBAL ECONOMY
GLOBAL MARKETS
GLOBAL TRADE
GOVERNMENT BUDGET
GOVERNMENT DEBT
GOVERNMENT POLICY
GOVERNMENT REVENUE
GOVERNMENT SECURITIES
GOVERNMENT SPENDING
GROWTH RATE
HEALTH CARE
HEALTH WORKERS
HIGHER GOVERNMENT SPENDING
HOME MORTGAGE
HOUSEHOLD INCOME
HUMAN CAPITAL
HUMAN RESOURCE
INFLATION
INFLATIONARY PRESSURES
INFORMATION SYSTEM
INFRASTRUCTURE PROJECTS
INSURANCE
INTERNATIONAL FINANCE
INTERNATIONAL MARKETS
INVESTMENT CLIMATE
INVESTMENT SPENDING
INVESTMENTS IN EQUITIES
JUDICIAL SYSTEM
LABOR MARKET
LEASE AGREEMENTS
LIABILITY
LIQUIDITY
LIQUIDITY MANAGEMENT
LIVING STANDARDS
LOCAL BANKS
LOCAL CURRENCY
LOCAL GOVERNMENT
LONG-TERM LOANS
LONG-TERM OBLIGATIONS
MATURITY
MICROENTERPRISES
MONETARY POLICY
MUTUAL FUND
NATIONAL BUDGET
NATIONAL DEFENSE
NATIONAL EXPENDITURE
NATIONAL GOVERNMENT
NATIONAL STATISTICS
NATIONAL STATISTICS OFFICE
NEGATIVE SHOCKS
NET CAPITAL
OIL PRICES
OPEN ECONOMY
POLITICAL STABILITY
PORTFOLIO
PORTFOLIO INFLOWS
POVERTY REDUCTION
PRICE INDICES
PRIVATE CONSUMPTION
PROGRAM IMPLEMENTATION
PROGRAMS
PUBLIC EXPENDITURE
PUBLIC EXPENDITURE EFFICIENCY
PUBLIC EXPENDITURE REVIEW
PUBLIC FINANCE
PUBLIC FINANCES
PUBLIC SPENDING
PUBLIC UTILITIES
PUBLIC WORKS
REMITTANCE
REMITTANCES
RESERVE
RESERVE REQUIREMENT
RESERVE REQUIREMENTS
RESOURCE MANAGEMENT
RETURN
RETURNS
RISK AVERSION
RULE OF LAW
SAFETY NET
SHORT-TERM DEBT
SOCIAL PROGRAMS
SOCIAL SERVICES
SOCIAL WELFARE
SOVEREIGN BOND
SOVEREIGN DEBT
STOCK EXCHANGE
STOCK MARKET
TAX
TAX ADMINISTRATION
TAX BASE
TAX COLLECTION
TAX COLLECTIONS
TAX EFFORT
TAX POLICIES
TAX POLICY
TAX SYSTEM
TOTAL EXPENDITURES
TOTAL SPENDING
TRADE BALANCE
TRADING
TRANCHE
TRANSPARENCY
TREASURY
TREASURY BILL
TREASURY BILL RATES
UNCERTAINTY
WARRANTS
YIELD CURVE
spellingShingle ACCOUNTABILITY
ACCOUNTING
ACCOUNTS RECEIVABLES
AGGREGATE DEMAND
AGRICULTURAL COMMODITIES
ARBITRAGE
BALANCE OF PAYMENTS
BANK LENDING
BANKING SECTOR
BASIS POINTS
BENEFICIARIES
BOND
BOND SPREADS
BOND YIELDS
BONDS
BUDGET ALLOCATION
BUDGET CYCLE
BUDGET DEFICIT
BUDGETING
CAPITAL ACCUMULATION
CAPITAL FORMATION
CAPITAL INFLOWS
CAPITAL INVESTMENT
CAPITAL OUTLAYS
CAPITAL TRANSFERS
CASH TRANSACTIONS
CASH TRANSFER
CDS
CENTRAL BANK
CIVIL SOCIETY ORGANIZATIONS
COMMODITY PRICES
CONSUMER PRICE INDEX
CONTRACTUAL OBLIGATIONS
CREDIT DEFAULT
CREDIT DEFAULT SWAPS
CREDIT QUALITY
CREDIT RATINGS
CREDIT RISK
CURRENT ACCOUNT SURPLUS
DEBT BURDEN
DEBT CRISIS
DEBT MANAGEMENT
DEBT OUTSTANDING
DEBT PAYMENT
DEFAULT RATING
DEPOSIT
DEPOSITS
DISBURSEMENT
DOMESTIC BORROWING
DOMESTIC INVESTMENT
DOMESTIC LIQUIDITY
ECONOMIC CONDITIONS
ECONOMIC DEVELOPMENT
ECONOMIC DEVELOPMENTS
ECONOMIC GROWTH
ECONOMIC UNCERTAINTIES
EDUCATION SERVICES
EMERGING ECONOMIES
EMERGING MARKETS
EQUIPMENT
EQUITY CONSIDERATIONS
EQUITY INDEX
EQUITY MARKETS
EXCHANGE RATE
EXPENDITURE
EXPENDITURE PROGRAM
EXPENDITURES
EXTERNAL DEBT
EXTERNAL SHOCKS
FINANCIAL ACCOUNT
FINANCIAL ASSISTANCE
FINANCIAL CONDITIONS
FINANCIAL CRISIS
FINANCIAL INSTITUTIONS
FINANCIAL INTERMEDIATION
FINANCIAL MANAGEMENT
FINANCIAL MANAGEMENT INFORMATION
FINANCIAL MANAGEMENT INFORMATION SYSTEM
FINANCIAL MARKET
FINANCIAL MARKET PARTICIPANTS
FINANCIAL MARKETS
FINANCIAL RESOURCES
FINANCIAL SERVICE PROVIDERS
FINANCIAL SHOCKS
FINANCIAL VARIABLES
FISCAL AUTONOMY
FISCAL BALANCE
FISCAL CONSOLIDATION
FISCAL DEFICIT
FISCAL DISCIPLINE
FISCAL POLICY
FISCAL POSITION
FIXED CAPITAL
FOREIGN BANKS
FOREIGN CURRENCY
FOREIGN DIRECT INVESTMENTS
FOREIGN EXCHANGE
FOREIGN EXCHANGE RESERVES
FOREIGN EXCHANGE TRANSACTIONS
FOREIGN FINANCIAL SERVICE
FOREIGN FUNDS
FOREIGN INVESTORS
FOREIGN LOANS
FOREIGN PORTFOLIO INVESTMENTS
FOREIGN RESERVES
FOREIGN TRADE
GENERAL APPROPRIATIONS
GLOBAL ECONOMY
GLOBAL MARKETS
GLOBAL TRADE
GOVERNMENT BUDGET
GOVERNMENT DEBT
GOVERNMENT POLICY
GOVERNMENT REVENUE
GOVERNMENT SECURITIES
GOVERNMENT SPENDING
GROWTH RATE
HEALTH CARE
HEALTH WORKERS
HIGHER GOVERNMENT SPENDING
HOME MORTGAGE
HOUSEHOLD INCOME
HUMAN CAPITAL
HUMAN RESOURCE
INFLATION
INFLATIONARY PRESSURES
INFORMATION SYSTEM
INFRASTRUCTURE PROJECTS
INSURANCE
INTERNATIONAL FINANCE
INTERNATIONAL MARKETS
INVESTMENT CLIMATE
INVESTMENT SPENDING
INVESTMENTS IN EQUITIES
JUDICIAL SYSTEM
LABOR MARKET
LEASE AGREEMENTS
LIABILITY
LIQUIDITY
LIQUIDITY MANAGEMENT
LIVING STANDARDS
LOCAL BANKS
LOCAL CURRENCY
LOCAL GOVERNMENT
LONG-TERM LOANS
LONG-TERM OBLIGATIONS
MATURITY
MICROENTERPRISES
MONETARY POLICY
MUTUAL FUND
NATIONAL BUDGET
NATIONAL DEFENSE
NATIONAL EXPENDITURE
NATIONAL GOVERNMENT
NATIONAL STATISTICS
NATIONAL STATISTICS OFFICE
NEGATIVE SHOCKS
NET CAPITAL
OIL PRICES
OPEN ECONOMY
POLITICAL STABILITY
PORTFOLIO
PORTFOLIO INFLOWS
POVERTY REDUCTION
PRICE INDICES
PRIVATE CONSUMPTION
PROGRAM IMPLEMENTATION
PROGRAMS
PUBLIC EXPENDITURE
PUBLIC EXPENDITURE EFFICIENCY
PUBLIC EXPENDITURE REVIEW
PUBLIC FINANCE
PUBLIC FINANCES
PUBLIC SPENDING
PUBLIC UTILITIES
PUBLIC WORKS
REMITTANCE
REMITTANCES
RESERVE
RESERVE REQUIREMENT
RESERVE REQUIREMENTS
RESOURCE MANAGEMENT
RETURN
RETURNS
RISK AVERSION
RULE OF LAW
SAFETY NET
SHORT-TERM DEBT
SOCIAL PROGRAMS
SOCIAL SERVICES
SOCIAL WELFARE
SOVEREIGN BOND
SOVEREIGN DEBT
STOCK EXCHANGE
STOCK MARKET
TAX
TAX ADMINISTRATION
TAX BASE
TAX COLLECTION
TAX COLLECTIONS
TAX EFFORT
TAX POLICIES
TAX POLICY
TAX SYSTEM
TOTAL EXPENDITURES
TOTAL SPENDING
TRADE BALANCE
TRADING
TRANCHE
TRANSPARENCY
TREASURY
TREASURY BILL
TREASURY BILL RATES
UNCERTAINTY
WARRANTS
YIELD CURVE
World Bank Group
Philippines Quarterly Update, September 2011 : Solid Macroeconomic Fundamentals Cushion External Turmoil
geographic_facet East Asia and Pacific
Philippines
description 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.
format Economic & Sector Work :: Economic Updates and Modeling
author World Bank Group
author_facet World Bank Group
author_sort World Bank Group
title Philippines Quarterly Update, September 2011 : Solid Macroeconomic Fundamentals Cushion External Turmoil
title_short Philippines Quarterly Update, September 2011 : Solid Macroeconomic Fundamentals Cushion External Turmoil
title_full Philippines Quarterly Update, September 2011 : Solid Macroeconomic Fundamentals Cushion External Turmoil
title_fullStr Philippines Quarterly Update, September 2011 : Solid Macroeconomic Fundamentals Cushion External Turmoil
title_full_unstemmed Philippines Quarterly Update, September 2011 : Solid Macroeconomic Fundamentals Cushion External Turmoil
title_sort philippines quarterly update, september 2011 : solid macroeconomic fundamentals cushion external turmoil
publisher Manila
publishDate 2015
url http://documents.worldbank.org/curated/en/2011/09/20464159/philippines-quarterly-update-solid-macroeconomic-fundamentals-cushion-external-turmoil
http://hdl.handle.net/10986/21130
_version_ 1764447389991567360
spelling okr-10986-211302021-04-23T14:04:00Z Philippines Quarterly Update, September 2011 : Solid Macroeconomic Fundamentals Cushion External Turmoil World Bank Group ACCOUNTABILITY ACCOUNTING ACCOUNTS RECEIVABLES AGGREGATE DEMAND AGRICULTURAL COMMODITIES ARBITRAGE BALANCE OF PAYMENTS BANK LENDING BANKING SECTOR BASIS POINTS BENEFICIARIES BOND BOND SPREADS BOND YIELDS BONDS BUDGET ALLOCATION BUDGET CYCLE BUDGET DEFICIT BUDGETING CAPITAL ACCUMULATION CAPITAL FORMATION CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL OUTLAYS CAPITAL TRANSFERS CASH TRANSACTIONS CASH TRANSFER CDS CENTRAL BANK CIVIL SOCIETY ORGANIZATIONS COMMODITY PRICES CONSUMER PRICE INDEX CONTRACTUAL OBLIGATIONS CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT QUALITY CREDIT RATINGS CREDIT RISK CURRENT ACCOUNT SURPLUS DEBT BURDEN DEBT CRISIS DEBT MANAGEMENT DEBT OUTSTANDING DEBT PAYMENT DEFAULT RATING DEPOSIT DEPOSITS DISBURSEMENT DOMESTIC BORROWING DOMESTIC INVESTMENT DOMESTIC LIQUIDITY ECONOMIC CONDITIONS ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS ECONOMIC GROWTH ECONOMIC UNCERTAINTIES EDUCATION SERVICES EMERGING ECONOMIES EMERGING MARKETS EQUIPMENT EQUITY CONSIDERATIONS EQUITY INDEX EQUITY MARKETS EXCHANGE RATE EXPENDITURE EXPENDITURE PROGRAM EXPENDITURES EXTERNAL DEBT EXTERNAL SHOCKS FINANCIAL ACCOUNT FINANCIAL ASSISTANCE FINANCIAL CONDITIONS FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL INTERMEDIATION FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT INFORMATION FINANCIAL MANAGEMENT INFORMATION SYSTEM FINANCIAL MARKET FINANCIAL MARKET PARTICIPANTS FINANCIAL MARKETS FINANCIAL RESOURCES FINANCIAL SERVICE PROVIDERS FINANCIAL SHOCKS FINANCIAL VARIABLES FISCAL AUTONOMY FISCAL BALANCE FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL DISCIPLINE FISCAL POLICY FISCAL POSITION FIXED CAPITAL FOREIGN BANKS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENTS FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN EXCHANGE TRANSACTIONS FOREIGN FINANCIAL SERVICE FOREIGN FUNDS FOREIGN INVESTORS FOREIGN LOANS FOREIGN PORTFOLIO INVESTMENTS FOREIGN RESERVES FOREIGN TRADE GENERAL APPROPRIATIONS GLOBAL ECONOMY GLOBAL MARKETS GLOBAL TRADE GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT POLICY GOVERNMENT REVENUE GOVERNMENT SECURITIES GOVERNMENT SPENDING GROWTH RATE HEALTH CARE HEALTH WORKERS HIGHER GOVERNMENT SPENDING HOME MORTGAGE HOUSEHOLD INCOME HUMAN CAPITAL HUMAN RESOURCE INFLATION INFLATIONARY PRESSURES INFORMATION SYSTEM INFRASTRUCTURE PROJECTS INSURANCE INTERNATIONAL FINANCE INTERNATIONAL MARKETS INVESTMENT CLIMATE INVESTMENT SPENDING INVESTMENTS IN EQUITIES JUDICIAL SYSTEM LABOR MARKET LEASE AGREEMENTS LIABILITY LIQUIDITY LIQUIDITY MANAGEMENT LIVING STANDARDS LOCAL BANKS LOCAL CURRENCY LOCAL GOVERNMENT LONG-TERM LOANS LONG-TERM OBLIGATIONS MATURITY MICROENTERPRISES MONETARY POLICY MUTUAL FUND NATIONAL BUDGET NATIONAL DEFENSE NATIONAL EXPENDITURE NATIONAL GOVERNMENT NATIONAL STATISTICS NATIONAL STATISTICS OFFICE NEGATIVE SHOCKS NET CAPITAL OIL PRICES OPEN ECONOMY POLITICAL STABILITY PORTFOLIO PORTFOLIO INFLOWS POVERTY REDUCTION PRICE INDICES PRIVATE CONSUMPTION PROGRAM IMPLEMENTATION PROGRAMS PUBLIC EXPENDITURE PUBLIC EXPENDITURE EFFICIENCY PUBLIC EXPENDITURE REVIEW PUBLIC FINANCE PUBLIC FINANCES PUBLIC SPENDING PUBLIC UTILITIES PUBLIC WORKS REMITTANCE REMITTANCES RESERVE RESERVE REQUIREMENT RESERVE REQUIREMENTS RESOURCE MANAGEMENT RETURN RETURNS RISK AVERSION RULE OF LAW SAFETY NET SHORT-TERM DEBT SOCIAL PROGRAMS SOCIAL SERVICES SOCIAL WELFARE SOVEREIGN BOND SOVEREIGN DEBT STOCK EXCHANGE STOCK MARKET TAX TAX ADMINISTRATION TAX BASE TAX COLLECTION TAX COLLECTIONS TAX EFFORT TAX POLICIES TAX POLICY TAX SYSTEM TOTAL EXPENDITURES TOTAL SPENDING TRADE BALANCE TRADING TRANCHE TRANSPARENCY TREASURY TREASURY BILL TREASURY BILL RATES UNCERTAINTY WARRANTS YIELD CURVE 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. 2015-01-07T18:03:42Z 2015-01-07T18:03:42Z 2011-09 http://documents.worldbank.org/curated/en/2011/09/20464159/philippines-quarterly-update-solid-macroeconomic-fundamentals-cushion-external-turmoil http://hdl.handle.net/10986/21130 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Manila Economic & Sector Work :: Economic Updates and Modeling East Asia and Pacific Philippines