The Impact of the Gulf Crisis on the Philippine Economy

To analyze the impact of the Gulf Crisis on the Philippine economy, this paper describes the current state of the economy and the energy policy of the government. It documents and describes in detail the policy measures adopted by the government to deal with the impact of the Gulf Crisis. Utilizing the PIDS-NEDA Macroeconometric Model, simulations under different scenarios are performed to determine both the direct and indirect impact on macroeconomic variables. Recommendations on measures that deal with energy crisis are presented.