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15985: Philippines - Strengthening economic resiliency

This report confirms the private sector ' s central role in generating the impetus for growth, and the role of financial policies in bolstering confidence. At the same time, it assesses a number of emerging concerns that will need to be addressed to solidify growth prospects. Section II reviews recent macroeconomic developments while Section III discusses the policy implications of emerging macroeconomic trends, in particular the requirements for maintaining fiscal sustainability and options for restraining credit expansion. Furthermore, the objectives of raising domestic savings and improving allocation efficiency are examined in the context of options to reform the Government ' s role in social security and housing. Finally, Section IV provides projection of official development assistance (ODA) requirements in the context of the Government ' s public investment program and places these within an overall balance of payments framework through 1998.

World Bank
Authors Keywords
World Bank; fiscal management; employment opportunities; monetary policy; fiscal policy; fiscal sector; housing sector;
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