Philippines Quarterly Update, June 2011 : Generating More Inclusive Growth

World Bank

Philippines Quarterly Update, June 2011 : Generating More Inclusive Growth

2011

World Bank

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. It places them in a longer-term and global context, and assesses the implications of these developments and other changes in policy for the outlook for the Philippines. Its coverage ranges from the macro-economy to financial markets to indicators of human welfare and development. It is intended for a wide audience, including policy makers, business leaders, financial market participants, and the community of analysts and professionals engaged in the Philippines. Though the revised gross domestic product (GDP) growth estimates show small deviation from the old base year and methodology, the revision has resulted in a nominal GDP which is 6 percent larger and hence, lower fiscal statistics as a percentage of GDP (e.g., lower tax effort, but improved debt ratio), but also important sectoral growth changes. Investment is now noticeably higher due to improved coverage and transfer of items previously booked under consumption (e.g., military goods) the investment-to-GDP ratio in 2010 is now 20.5 percent instead of 15.6 percent. The demand side growth continues to post a remarkable uptick in investment. Investment grew by 37 percent year-on-year and contributed 6.8 percentage points to GDP growth, mostly driven by durable equipment and private construction. Private construction grew by 22 percent, albeit at a slower pace than the preceding three quarters, and compensated for the contraction in public construction which shrank by 37.3 percent due to continued fiscal tightening and a high base effect. Investment in durable equipment grew 17 percent with the building up of inventory in industrial machineries and road vehicles.

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AGROVOC Keywords

accounting agriculture balance of payments capital formation consumers developing countries economic growth expenditure exports external debt financial market food prices food products food security growth rate household income human capital income tax inflation interest rates international trade liquidity living standards local government maturity national income natural disasters poverty reduction private investment productivity public works real estate remittances returns rural areas rural poverty savings side effects stock exchange stock market stocks targeting unemployment volatility wages wholesale prices

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Publisher

Manila

Other Subjects

Net exports; Per capita income; Personal income; Rural area; Financial management; Trade finance; Compliance costs; Income levels; Rural; Portfolio; Foreign direct investment; Productivity growth; Exchange rates; Trade balance; Government spending; International reserves; Poverty severity; Emerging market investments; Global bonds; Commodity price; Global economic prospects; Low interest rates; Household head; Yield curve; Income taxes; Dollar bonds; Expansionary fiscal policy; Poverty line; Tax rate; Durable; Food items; Return; Trade sector; Per capita incomes; Poor households; Tax policy; Food price; Agricultural yields; Inflation target; Emerging economies; Public sector debt; Agricultural incomes; Current account balance; Human capital endowments; Tax system; Specific taxes; Structural reforms; Issuances; Labor markets; Poverty rates; Food needs; Real gdp; Outsourcing; Poverty estimates; Food expenditures; Poor; Income level; Inventory; Investment climate; Commodity; Poverty incidence; Poverty profile; Poverty dynamics; Reserve requirement; Foreign currency; Government expenditures; Oil prices; Indexation; Investor behavior; Trade deficit; Deficits; Agricultural employment; Inflationary pressures; Portfolio investment; Negative externalities; Tax expenditures; Government budget; Debt level; Foreign exchange reserves; Economic expansion; Sovereign debt; Foreign investments; Poor families; Investor confidence; Treasury; Banking industries; Fiscal deficit; Fiscal policy; Employment in agriculture; Tax incentives; Political unrest; Federal reserve; Inflation expectation; Financial markets; Durable equipment; Financial system; Basis points; Commodity prices; Secondary trading; Asset purchase; Global trade; Deposit accounts; Financial inflows; Income inequality; Red tape; Poverty linkages; Financial crisis; Purchasing power; Output; Interest payments; Fiscal consolidation; Forecasts; Household per capita income; Cash transfer; Rural poverty incidence; Debt ratio; Current account surplus; Exposure; Inflation rate; Debt maturity; Financial market participants; Reserve; Emerging market; Capital outlays; Deposit; Gdp; Base year; Job creation; Remittance; Household survey; Equity market; Cost assumptions; Labor market; Domestic interest rates; Foreign portfolio; Poverty gap; Government securities; Poverty lines; Domestic liquidity; Damages; Poor people; Coupon; Foreign exchange; Sovereign ratings; Portfolio inflows; Income dynamics; Capacity constraints; Debt stock; Recession; Unemployment rate; Poverty reducing; Emerging markets; Financial derivatives; Inflation targeting; Issuance; Benchmark; Debt ratios; Derivatives; Capital inflows; Market performance; Export growth; Net capital; Leading indicators; Tax collection; Inflation expectations; Foreign debts; Bank lending; Poverty threshold; Transparency; Household incomes; Economic developments; Government bonds; Consumer spending; Wage growth; Income groups; Public spending; Monetary policy; International poverty line; Tax; Overseas debt; Rural income; Price increases; Good governance

License

CC BY 3.0 IGO. http://creativecommons.org/licenses/by/3.0/igo. World Bank

Type

Report; Economic & Sector Work :: Economic Updates And Modeling; Economic & Sector Work

In AGRIS since: 2022-09-15

Format: AGRIS AP

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http://documents.worldbank.org/curated/en/668571468295233275/Philippines-quarterly-update-generating-more-inclusive-growth http://hdl.handle.net/10986/27798

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Philippines Quarterly Update, June 2011 : Generating More Inclusive Growth

2011

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