## Philippines: Selected Issues

_IMF Staff Country Reports, December 19, 2024_

## Source details

**Canonical URL:** [Philippines: Selected Issues](https://www.imf.org/en/publications/cr/issues/2024/12/19/philippines-selected-issues-559744)

## Other formats

- [Markdown version](/en/publications/cr/issues/2024/12/19/philippines-selected-issues-559744/index.md)
- [Structured JSON version](/en/publications/cr/issues/2024/12/19/philippines-selected-issues-559744/index.json)
- [Bundle manifest](/en/publications/cr/issues/2024/12/19/philippines-selected-issues-559744/bundle-manifest.json)

## Bibliographic details
- Published: December 19, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400296369.002

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### Summary findings
- 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.

### Projections and scenarios
- 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.

### Policy priorities and structural reforms
- 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.

### Thematic coverage (as labeled)
- Education
- Human capital
- Inflation
- Labor
- Labor productivity
- Prices
- Production
- Total factor productivity

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## Content in this bundle

- **Philippines: Selected Issues; IMF Country Report No. 24/352; November 15, 2024**
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  - [Philippines: Selected Issues; IMF Country Report No. 24/352; November 15, 2024 (PDF)](/-/media/files/publications/cr/2024/english/1phlea2024002-print-pdf.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2024/12/19/philippines-selected-issues-559744_