Philippines Quarterly Update, September 2011 : Solid Macroeconomic Fundamentals Cushion External Turmoil

World Bank Group

Manila

关键词: ACCOUNTABILITY;    ACCOUNTING;    ACCOUNTS RECEIVABLES;    AGGREGATE DEMAND;    AGRICULTURAL COMMODITIES;   

RP-ID  :  92901

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The Philippines Quarterly Updateprovides an update on key economic developments and policiesover the past three months. It also presents findings fromrecent World Bank work on the Philippines. As of September2011 due to sluggish exports and government spending,economic growth was lower than expected. The Philippineeconomy continued to decelerate during the first half of2011 as investment and exports contracted. Privateconsumption growth remained robust, rising by 5.4 percent inthe first half of 2011 and contributing 3.6 percentagepoints to GDP growth in Q2 2011. A contraction inconstruction spending slowed down growth of fixed capitalformation. On the supply side, the resilient services sectorwas the main source of growth. The Philippines' externalposition and macroeconomic fundamentals remain strong.Monetary policy remains accommodating, while the fiscaldeficit is likely to fall below target. After a strongrebound in 2010, economic growth in 2011 is likely to remainaround 5 percent with downside risks. The challenge forpolicymakers is to ensure that the Philippines continues toimprove its competitiveness, while cushioning the economyfrom adverse external shocks.