LATEST PUBLICATIONS
DRN Vol. 39 No.3
'Reexamine SHS Programs Employment and Entrepreneurial Objectives'
WP-2012-07
Regulatory Impact Assessment Adoption Determinants: A Diagnostic Framework
WP-2012-06
Exploring Responses to the Employment Impact of Excise Tax Reform: The Case of the Philippine Tobacco Industry
WP-2012-05
Mapping Out Employment Opportunities in the Cultural Heritage Sector A Strategic Framework

LATEST AV MATERIALS
PIDS WB 2021-0905
Annual Public Policy Conference Webinar 4: Robust and Healthy Workforce and Closing Program
PIDS WB 2021-0904
Annual Public Policy Conference Webinar 3: Green And Inclusive Recovery
PIDS WB 2021-0903
Annual Public Policy Conference Webinar 2: Ethical Business
PIDS WB 2021-0902
Opening Program and Annual Public Policy Conference Webinar 1: Resetting Capitalism
Publication Detail
60820: Philippines Quarterly Update : Robust Growth, Stubborn Poverty

Following a slowdown during the global financial crisis in 2009, the Philippine economy roared back in 2010, with Gross Domestic Product (GDP) growth rates not seen in over 30 years. On the demand side, private consumption, investment, and net exports were the main drivers of growth. On the supply side, industry and services propelled the economy. The external position continued to strengthen, thanks to a consistently strong current account and, more recently, by improvements in the capital and financial account. Dollar remittances grew progressively faster throughout 2010. Labor market conditions improved, but unemployment remains high, contributing to strong OFW deployment. Growth is expected to normalize around its potential output in 2011 as the technical and temporary factors that generated record growth in 2010 disappear. Among its first actions in office, the Aquino government carried out a comprehensive assessment of fiscal risks and published a Fiscal Risk Statement (FRS). Experience reveals that FRSs can yield important benefits, including lower and better, managed risks, improved policies, and lower financing costs. Historically, the Philippines have been exposed to considerable fiscal risks, in part reflecting important weaknesses in public financial management and resulting in large fiscal costs. While fiscal risks have abated, they still remain sizeable in the Philippines. To improve its risk management, the government is pursuing a program of institutional capacity building.

World Bank
Authors Keywords
World Bank; governance; economic growth; fiscal policy; Philippines; electricity; macroeconomics;
Download PDF Number of Downloads
Published in 2010 and available in the World Bank or Downloaded 416 times since November 25, 2011
×
Please let us know your reason for downloading this publication. May we also ask you to provide additional information that will help us serve you better? Rest assured that your answers will not be shared with any outside parties. It will take you only two minutes to complete the survey. Thank you.


To use as reference:
If others, (Please specify):
Name: (optional)
Email: (required, but will not display)
Age:
Gender:
If Prefer to self-describe, please specify:
Level of Education:
Occupation:
If employed either part-time or full-time, name of office:
If others, (Please specify):
Would you like to receive the SERP-P UPDATES e-newsletter? Yes No
Use the space below if you have any comment about this publication or SERP-P knowledge resources in general.