Philippines: 2017 Article IV Consultation-Press Release; Staff Report
IMF Staff Country Reports, November 10, 2017
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- Philippines: 2017 Article IV Consultation-Press Release; Staff Report
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Bibliographic details
- Published: November 10, 2017
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484326831.002
Economic performance (findings)
- Real GDP growth reached 6.9 percent in 2016.
- Real GDP growth reached 6.4 percent in the first half of 2017.
- Growth drivers cited: robust domestic demand, a recovery in exports, and a fiscal impulse.
- The unemployment rate remains low at 5.5 percent.
External and fiscal positions (findings)
- The current account balance is reported as near zero.
- Gross international reserves at US$81 billion.
- General government net debt at 34.6 percent of GDP.
Outlook and projections
- Real GDP growth projected at 6.6 percent in 2017.
- Real GDP growth projected at 6.7 percent in 2018.
- Rationale for projections: continued robust domestic demand, despite external headwinds.
Subject areas and keywords (as listed)
- Subject: Credit, Expenditure, Fiscal policy, Money, Public debt, Public financial management (PFM)
- Keywords: Bangko Sentral ng Pilipinas, break, core inflation, CR, Credit, credit growth, Global, government deficit ceiling, headline inflation, IMF definition, IMF staff projection, inflation expectation, ISCR, Philippines
Source: Philippines: 2017 Article IV Consultation-Press Release; Staff Report
Content in this bundle
- Country Report