This Selected Issues paper highlights the Philippine growth performance led by the services sector. Average GDP growth is higher in the post-Asian crisis period in the Philippines, while the majority of the Philippines’s regional peers have experienced substantially lower growth in the...

The staff report for the 2005 Article IV Consultation on the Philippines highlights managing short-term vulnerabilities and higher investment and growth. Power generation tariffs have been raised to substantially cut the losses of the National Power Corporation (NPC). A risk to the near-term...

This 2009 Article IV Consultation highlights that following the adverse impact from the global economic and financial crisis, there are signs of a nascent recovery of the Philippine economy. Growth is expected at 3⁄4 percent in 2009 and to recover to about 31⁄4 percent in 2010. The recovery...

The staff report for the Philippines’ 2008 Article IV Consultation is focused on economic developments and policies. A deepening of the global economic downturn presents downside risks to this outlook. Inflation is expected to reach 91⁄2 percent in 2008 and decline to 6 percent in 2009, led...

This Selected Issues paper for the Philippines has been prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. Spillovers have been particularly prominent for countries with financial systems with high...

The staff report for the Post-Program Monitoring highlights economic developments, fiscal policy, and monetary policy. The primary risk to the near-term outlook for the Philippine economy is that the prevailing state of uncertainty proves to be protracted and sidelines economic reforms. Adverse...

This report provides an assessment of the Observance of Standards and Codes on Fiscal Transparency Module for the Philippines. The Philippines meets the requirements of fiscal transparency in many important respects. Despite broad adherence to the transparency code, there are some key areas that...

This paper focuses on 2004 Post Program Monitoring Discussions for the Philippines. The authorities are formulating a significant package of tax measures. IMF staff argued that the bulk of the additional revenues should be saved, thereby front-loading the medium-term deficit reduction effort....

The 2006 Article IV Consultation on the Philippines discusses stronger exports and reduced inflation, with the 12-month rate back within the inflation target. Remittances have continued to grow strongly, and the balance of payments received additional support in the second half of 2006 from...

This paper examines the Philippines’s 2004 Article IV Consultation and Post-Program Monitoring Discussions. GDP growth has exceeded expectations, but unemployment remains high. With exports staging a recovery and consumption boosted by overseas remittances and the election, GDP grew by 6.1...