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publication

Philippine Economic Update - October 2015


STORY HIGHLIGHTS
  • The Philippines is among the strongest performers in the region, bucking the trend, because of strong fundamentals.
  • In 2016, growth is expected to accelerate to 6.4 percent before tempering to 6.2 percent in 2017.
  • Poverty reduction is expected to continue if the country is able to maintain the relatively high economic growth and better job trends in recent years.

•    In recent years, strong economic growth and effective government programs are improving poverty reduction, while, in 2014, natural disasters and delays in state-managed rice importation harmed the poor.
 
•      Domestic financial market experienced large volatilities in recent months but underlying fundamentals remain sound.
 
•       Poverty reduction is expected to continue if the country is able to maintain the relatively high economic growth and better job trends in recent years.
 
•       Gains from higher revenues and unprecedented increases in the budget have yet to translate into commensurate increases in government spending to support an investment-led growth.
 
•       Simplifying business regulations can unleash the full potential of the private sector, in particular, small and micro businesses.
 
•       The remaining eight months of the Aquino Administration present an opportunity to clearly and practically define the unfinished business in the structural reform agenda.


Contacts

Manila
David Llorito
Email

Washington
Jane Zhang
Email