{
  "title": "Philippines: Selected Issues",
  "publication": "IMF Staff Country Reports, December 19, 2024",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2024/12/19/philippines-selected-issues-559744",
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  "summary": "This Selected Issues paper focuses on potential growth and demographic dividend in Philippines. Output and employment in the Philippines were severely impacted by the coronavirus disease 2019 pandemic.",
  "sections": [
    {
      "heading": "Summary findings",
      "content": "- Output and employment in the Philippines were severely impacted by the coronavirus disease 2019 pandemic.\n- While the Philippines recovered strongly after the pandemic, there is some evidence of scarring in output, and labor productivity remains below pre-pandemic trends.\n- At a structural level, the Philippines is on the cusp of a demographic transition but must close important structural gaps to take advantage of this potential dividend and boost growth.\n- A comparison between the Philippines and peer countries along structural areas key to supporting higher growth can inform reform efforts to support higher growth."
    },
    {
      "heading": "Projections and scenarios",
      "content": "- Under current policy settings, potential growth projections are estimated to be between 6.0–6.3 percent in the medium term.\n- An upside scenario, which assumes ambitious and well-sequenced structural reforms, shows that growth could reach 7.0–7.5 percent over a longer time horizon."
    },
    {
      "heading": "Policy priorities and structural reforms",
      "content": "- Strengthening anti-corruption efforts would support business certainty.\n- Enhancing the legal system, regulatory quality, and improving the rule of law are identified as key measures to support business certainty and higher growth.\n- Closing important structural gaps is necessary to capture the demographic dividend and boost productivity."
    },
    {
      "heading": "Thematic coverage (as labeled)",
      "content": "- Education\n- Human capital\n- Inflation\n- Labor\n- Labor productivity\n- Prices\n- Production\n- Total factor productivity\n\n---\n\n Content in this bundle\n\n- Philippines: Selected Issues; IMF Country Report No. 24/352; November 15, 2024\n  - Philippines: Selected Issues; IMF Country Report No. 24/352; November 15, 2024 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Philippines: Selected Issues; IMF Country Report No. 24/352; November 15, 2024 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: December 19, 2024",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400296369.002",
    "Output and employment in the Philippines were severely impacted by the coronavirus disease 2019 pandemic.",
    "While the Philippines recovered strongly after the pandemic, there is some evidence of scarring in output, and labor productivity remains below pre-pandemic trends.",
    "At a structural level, the Philippines is on the cusp of a demographic transition but must close important structural gaps to take advantage of this potential dividend and boost growth.",
    "A comparison between the Philippines and peer countries along structural areas key to supporting higher growth can inform reform efforts to support higher growth.",
    "Under current policy settings, potential growth projections are estimated to be between 6.0–6.3 percent in the medium term.",
    "An upside scenario, which assumes ambitious and well-sequenced structural reforms, shows that growth could reach 7.0–7.5 percent over a longer time horizon.",
    "Strengthening anti-corruption efforts would support business certainty.",
    "Enhancing the legal system, regulatory quality, and improving the rule of law are identified as key measures to support business certainty and higher growth.",
    "Closing important structural gaps is necessary to capture the demographic dividend and boost productivity.",
    "**Philippines: Selected Issues; IMF Country Report No. 24/352; November 15, 2024**"
  ],
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      "title": "Philippines: Selected Issues; IMF Country Report No. 24/352; November 15, 2024",
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