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Philippines Quarterly Update, December 2011 : Sustaining Growth in Uncertain Times.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- World Bank Group.
- Series:
- Economic Updates and Modeling
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Accounting.
- Agriculture.
- Business Environment.
- Commodity Prices.
- Consumers.
- Debt Markets.
- Developing Countries.
- Economic Growth.
- Expenditures.
- Export Competitiveness.
- Finance and Financial Sector Development.
- Financial Management.
- Financial Sector.
- Financial Stability.
- Fiscal & Monetary Policy.
- Fiscal Policy.
- Foreign Banks.
- Foreign Direct Investment.
- Gdp.
- Household Income.
- Human Capital.
- Inflation.
- Insurance.
- Investment Climate.
- Job Creation.
- Labor Market.
- Local Government.
- Macroeconomics and Economic Growth.
- Monetary Policy.
- Outsourcing.
- Per Capita Income.
- Poverty Reduction.
- Price Elasticity.
- Public Investment.
- Public Spending.
- Recession.
- Risk Aversion.
- Savings.
- Sovereign Debt.
- Tax Policy.
- Taxation & Subsidies.
- Transparency.
- Unemployment.
- World Development Indicators.
- Local Subjects:
- Accounting.
- Agriculture.
- Business Environment.
- Commodity Prices.
- Consumers.
- Debt Markets.
- Developing Countries.
- Economic Growth.
- Expenditures.
- Export Competitiveness.
- Finance and Financial Sector Development.
- Financial Management.
- Financial Sector.
- Financial Stability.
- Fiscal & Monetary Policy.
- Fiscal Policy.
- Foreign Banks.
- Foreign Direct Investment.
- Gdp.
- Household Income.
- Human Capital.
- Inflation.
- Insurance.
- Investment Climate.
- Job Creation.
- Labor Market.
- Local Government.
- Macroeconomics and Economic Growth.
- Monetary Policy.
- Outsourcing.
- Per Capita Income.
- Poverty Reduction.
- Price Elasticity.
- Public Investment.
- Public Spending.
- Recession.
- Risk Aversion.
- Savings.
- Sovereign Debt.
- Tax Policy.
- Taxation & Subsidies.
- Transparency.
- Unemployment.
- World Development Indicators.
- Other Title:
- Philippines Quarterly Update, December 2011
- Place of Publication:
- Washington, D.C. : The World Bank, 2011.
- System Details:
- data file
- Summary:
- After a strong rebound in 2010, Philippine economic growth slowed by more than half to 3.6 percent in the first three quarters of 2011. Slower third quarter (Q3) growth of 3.2 percent was the result of significant contractions in exports and public investment. The contraction in exports largely reflected weaker demand in advanced economies while public investments continued to shrink in part because of measures to improve accountability of public spending. On the production side, industrial and agricultural activities were sluggish, leaving the services sector to buoy growth. To improve growth outcome in the remainder of the year, the government announced a PHP 72 billion (about 0.7 percent of GDP) disbursement acceleration plan to ensure that budgeted items are spent by year end. After a strong rebound in 2010, Philippine economic growth slowed by more than half to 3.6 percent in the first three quarters of 2011, bringing year to date growth below the government's revised target of 4.5 to 5.5 percent for 2011. Q3 growth of 3.2 percent was driven by private consumption and inventory build-up, which grew by 7.1 and 147.7 percent respectively. The country's slower expansion places it behind its neighbors with Indonesia, Vietnam, and Singapore growing above 6 percent, Malaysia at 5.8 percent, and Thailand, which was devastated by massive flooding in recent months, at 3.5 percent.
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