{
  "title": "Philippines: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Philippines",
  "publication": "IMF Staff Country Reports, August 6, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2021/08/06/philippines-2021-article-iv-consultation-press-release-staff-report-and-statement-by-the-463366",
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  "summary": "The economy is recovering after a major, pandemic-induced economic downturn. The authorities have deployed a comprehensive set of policy responses that have helped to mitigate the socioeconomic impact and maintain financial stability.",
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    {
      "heading": "Executive summary",
      "content": "- The economy is recovering after a major, pandemic-induced economic downturn.\n- The authorities have deployed a comprehensive set of policy responses that have helped to mitigate the socioeconomic impact and maintain financial stability.\n- The economic recovery slowed in the first half of 2021 due to a second wave of COVID-19 infections.\n- Vaccination has started and is poised to accelerate from midyear."
    },
    {
      "heading": "Major findings and context",
      "content": "- Recovery status:\n  - Economy recovering from a major, pandemic-induced downturn.\n  - Recovery experienced a slowdown in the first half of 2021 because of a second COVID-19 wave.\n  - Vaccination rollout has started and is expected to accelerate from midyear.\n- Policy response:\n  - Authorities deployed a comprehensive set of policy responses that helped mitigate socioeconomic impacts and maintain financial stability."
    },
    {
      "heading": "Subjects and keywords covered",
      "content": "- Subjects:\n  - Budget planning and preparation\n  - COVID-19\n  - Economic growth\n  - Economic recovery\n  - Financial regulation and supervision\n  - Fiscal policy\n  - Fiscal stimulus\n  - Health\n  - International organization\n  - Liquidity requirements\n  - Monetary policy\n  - Public financial management (PFM)\n- Keywords:\n  - Budget planning and preparation\n  - COVID-19\n  - CPI data\n  - Economic recovery\n  - financial asset\n  - Fiscal stimulus\n  - FSI website\n  - Global\n  - government transaction\n  - headline inflation\n  - IMF capacity development assistance\n  - inflation outlook\n  - Liquidity requirements\n  - money market rate\n\n---\n\n Content in this bundle\n\n- 1phlea2021002\n  - 1phlea2021002 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1phlea2021002 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 6, 2021",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513586519.002",
    "The economy is recovering after a major, pandemic-induced economic downturn.",
    "The authorities have deployed a comprehensive set of policy responses that have helped to mitigate the socioeconomic impact and maintain financial stability.",
    "The economic recovery slowed in the first half of 2021 due to a second wave of COVID-19 infections.",
    "Vaccination has started and is poised to accelerate from midyear.",
    "Recovery status:",
    "Policy response:",
    "Subjects:",
    "Keywords:",
    "**1phlea2021002**"
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