Publication:
Philippines Economic Update, June 2023: Securing Clean Energy Future

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dc.contributor.authorWorld Bank
dc.date.accessioned2023-06-07T14:48:58Z
dc.date.available2023-06-07T14:48:58Z
dc.date.issued2023-06-07
dc.description.abstractThe Philippine economy outperformed its regional peers, expanding by 6.4 percent in the first quarter of 2023. The continued release of pent-up demand as well as recovering labor market, steady remittances, and tourism rebound supported domestic activity. Weak global conditions, however, tempered external demand, which weighed on manufacturing and net exports. Domestic demand remained robust despite elevated inflation. To address inflationary pressure and anchor inflation expectations, the Bangko Sentral ng Pilipinas (BSP) has raised the key policy rate by an additional 75 bps since January 2023. Meanwhile, a decline in public spending led to a narrower fiscal deficit. With robust economic growth, unemployment declined despite higher labor force participation, but the quality of jobs remains a concern.en
dc.identifierhttp://documents.worldbank.org/curated/en/099060623115530982/P17948303d736205809c8000f9181719097
dc.identifier.doi10.1596/39858
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/39858
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo/
dc.subjectCLEAN ENERGY
dc.subjectENERGY TRANSITION
dc.subjectDECARBONIZATION
dc.subjectPOWER SECTOR
dc.titlePhilippines Economic Update, June 2023: Securing Clean Energy Futureen
dc.typeReport
dspace.entity.typePublication
okr.crossref.titlePhilippines Economic Update, June 2023: Securing Clean Energy Future
okr.date.disclosure2023-06-07
okr.date.lastmodified2023-06-06T00:00:00Zen
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/099060623115530982/P17948303d736205809c8000f9181719097
okr.guid099060623115530982
okr.identifier.docmidP179483-3d7362c6-5f1a-4258-9c80-0f9181719097
okr.identifier.doihttp://dx.doi.org/10.1596/39858
okr.identifier.externaldocumentum34075537
okr.identifier.internaldocumentum34075537
okr.identifier.report182585
okr.import.id805
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099060623115530982/pdf/P17948303d736205809c8000f9181719097.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryPhilippines
okr.sectorCentral Government (Central Agencies)
okr.topicEnergy::Power & Energy Conversion
okr.topicEnergy::Renewable Energy
okr.topicEnvironment::Adaptation to Climate Change
okr.unitEFI-EAP-MTI-MacroFiscal-2 (EEAM2)
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