Philippine Quarterly Update : Investing in Inclusive Growth amid Global Uncertainty

The Philippine quarterly update provides an update on key economic and social developments, and policies over the past three months. Despite heightened global economic uncertainty, the Philippine economy grew by 6.4 percent in the first quarter of...

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Bibliographic Details
Main Author:	World Bank
Format:	Economic Updates and Modeling
Language:	English en_US
Published:	Washington, DC 2017
Subjects:	ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCOUNT HOLDERS ACCOUNTING ADVANCED ECONOMIES AUTO LOANS BALANCE OF PAYMENTS BALANCE SHEET BANK ACCOUNT BANK BALANCE SHEETS BANK OFFICE BANK POLICY BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKING SYSTEMS BASIS POINTS BENEFICIARY BID BOOM-BUST CYCLES BORROWER BROAD ACCESS BUSINESS ACTIVITY CAPITAL ACCOUNT CAPITAL ACCUMULATION CAPITAL ADEQUACY CAPITAL FORMATION CAPITAL OUTFLOWS CAPITAL OUTLAYS CASH ACCOUNTS CASH FLOWS CASH TRANSFER CENTRAL BANK COMPOSITION OF DEBT CONSUMER CONFIDENCE CONSUMER GOODS CONSUMER LOANS COOPERATIVE BANKS CORRUPTION CREDIT CARD CREDIT COOPERATIVES CREDIT GROWTH CREDIT SQUEEZE CREDITOR CURRENT ACCOUNT CURRENT ACCOUNT SURPLUS DEBT CRISIS DEBT PAYMENT DEBT SERVICE DEBT SERVICE PAYMENTS DEBT SERVICES DEBT STRUCTURE DEBT SWAP DEFICITS DEPOSIT DEPOSIT ACCOUNTS DEPOSITS DEVELOPING COUNTRIES DISBURSEMENT DISBURSEMENTS DOMESTIC BANKING DOMESTIC CREDIT DOMESTIC DEBT DOMESTIC LIQUIDITY DOMESTIC MARKET DOWNSIDE SCENARIOS DURABLE DURABLE EQUIPMENT EARNINGS ECONOMIC ACTIVITY ECONOMIC CLIMATE ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC DEVELOPMENTS EMERGING ECONOMIES EMERGING MARKETS ENABLING ENVIRONMENT ENROLLMENT EQUITIES EQUITY MARKET EQUITY MARKETS EXCHANGE RATE EXPENDITURE EXPENDITURES EXTERNAL DEBT EXTERNAL SHOCKS FINANCIAL ACCOUNT FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL MARKET PARTICIPANTS FINANCIAL MARKETS FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL CAPACITY FISCAL DEFICIT FISCAL POLICY FIXED CAPITAL FIXED INVESTMENT FIXED INVESTMENTS FLEXIBLE EXCHANGE RATE FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN DIRECT INVESTMENTS FOREIGN EXCHANGE FOREIGN INVESTMENT FOREIGN INVESTMENTS FORMAL FINANCIAL SERVICES FRAUD GLOBAL BONDS GLOBAL ECONOMY GLOBAL MARKET GLOBAL TRADE GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT HOLDING HOLDINGS HOST ECONOMIES HOUSEHOLD INCOMES HOUSEHOLD LENDING HOUSEHOLD WELFARE HOUSEHOLDS HUMAN CAPITAL INFLATION INFLATION RATE INFLATION RATES INSURANCE INSURANCE CORPORATION INSURANCE PRODUCTS INTELLECTUAL PROPERTY INTEREST PAYMENT INTEREST PAYMENTS INTEREST RATE INTEREST RATE REGIME INTERNAL RATE OF RETURN INTERNATIONAL SETTLEMENTS INTERNATIONAL STANDARDS INVENTORIES INVENTORY INVESTING INVESTMENT CLIMATE ISSUANCE JOB CREATION LACK OF COLLATERALS LEASE AGREEMENTS LENDING CONDITIONS LIABILITY LIABILITY MANAGEMENT LIFE INSURANCE LIQUIDITY LOAN LOCAL GOVERNMENT LOCAL GOVERNMENTS LONG-TERM LOANS LOW INTEREST RATE MACROECONOMIC ENVIRONMENT MACROECONOMIC STABILITY MARKET DEVELOPMENTS MARKET RISK MARKET SHARE MATURITIES MATURITY MICRO-INSURANCE MICROFINANCE MINIMUM WAGE MOBILE PHONE MOBILE PHONES MONETARY POLICY NATIONAL SAVINGS NATURAL DISASTERS NEGATIVE SHOCK NON-PERFORMING LOANS OPEN ECONOMY PERMANENT SHOCKS PHYSICAL CAPITAL PORTFOLIO PORTFOLIO INFLOWS PORTFOLIO INVESTMENT PRINCIPAL PAYMENTS PRIVATE INVESTMENT PRIVATE LENDER PRIVATE LENDERS PROFITABILITY PROTECTION MEASURES PUBLIC DEBT PUBLIC INVESTMENT PUBLIC INVESTMENTS PUBLIC SPENDING PUBLIC-PRIVATE PARTNERSHIP REAL ESTATE REAL INTEREST REAL INTEREST RATES RECESSION REGULATORY SYSTEM REMITTANCE REMITTANCES RESERVE RESERVE REQUIREMENT RESERVE REQUIREMENTS RESERVES RETURN RETURNS RISK AVERSION RISK MANAGEMENT RISK MITIGATION SHORT-TERM EXTERNAL DEBT SOCIAL DEVELOPMENTS SOCIAL WELFARE SOVEREIGN DEBT STOCK EXCHANGE SUPPLY CHAIN SWAP TAX TAX COLLECTIONS TAX POLICY TAX RATES TOTAL DEBT TRANSPARENCY TREASURY TREASURY BILLS UNEMPLOYMENT URBAN AREAS YIELD CURVE
Online Access:	http://documents.worldbank.org/curated/en/171821468107675974/Philippine-quarterly-update-investing-in-inclusive-growth-amid-global-uncertainty http://hdl.handle.net/10986/26746

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Summary:	The Philippine quarterly update provides an update on key economic and social developments, and policies over the past three months. Despite heightened global economic uncertainty, the Philippine economy grew by 6.4 percent in the first quarter of 2012, a solid recovery from the relatively low 3.9 percent outturn for 2011. Higher growth was driven by a recovery in net exports and government spending, and robust private consumption. However, the ongoing European debt crisis and the slowdown in China pose significant downside risks to growth. The main channels of contagion to the Philippines are direct exports and remittance linkages to Europe, and indirect impact through regional production networks centered on China. The challenge for policymakers is to cushion the economy from potential external shocks, while ensuring that the Philippines invest in inclusive growth. Political commitment and strong macroeconomic fundamentals provide a window of opportunity for investing in inclusive growth by accelerating the implementation of reforms that improve the business environment for firms of all sizes, and boosting public investment in key infrastructure. Faster human capital accumulation will enhance productivity and drive growth in the medium term by enabling the country to shift gears towards higher value-added activities and more innovation.

Philippine Quarterly Update : Investing in Inclusive Growth amid Global Uncertainty

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