Philippines: 2009 Article IV Consultation-Staff Report, Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Philippines
February 19, 2010
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This 2009 Article IV Consultation highlights that following the adverse impact from the global economic and financial crisis, there are signs of a nascent recovery of the Philippine economy. Growth is expected at ¾ percent in 2009 and to recover to about 3¼ percent in 2010. The recovery will likely be led by private consumption as confidence strengthens and remittances pick up further. Investments and exports are also expected to benefit from the global recovery. Risks to the near-term outlook are broadly balanced and sensitive to the global growth outturn.
Subject: Balance of payments, Economic sectors, Exchange rates, External debt, Foreign exchange, Public debt, Public sector, Remittances
Keywords: concentration risk, CR, deficit, Exchange rates, expenditure restraint, fiscal authorities, Global, government, IBRD loan, IMF definition, ISCR, monetary policy, monetary policy stance, Public sector, Remittances, risk appetite, well functioning banking system
Pages:
56
Volume:
2010
DOI:
Issue:
045
Series:
Country Report No. 2010/045
Stock No:
1PHLEA2010001
ISBN:
9781451831450
ISSN:
1934-7685
