Publication:
Philippine Economic Update, August 2014 : Investing in the Future, Sharing Growth and Job Opportunities for All

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dc.contributor.authorWorld Bank Group
dc.date.accessioned2014-09-08T20:15:59Z
dc.date.available2014-09-08T20:15:59Z
dc.date.issued2014-08-01
dc.description.abstractAfter recording strong growth in the last two years, Philippine economic growth decelerated to 5.7 percent in the first quarter of 2014 (Q1 2014). After many years of slow poverty reduction, poverty incidence declined by 3 percentage points (PPT) between 2012 and 2013 to 24.9 percent, uplifting 2.5 million Filipinos out of poverty. Given the slow start in Q1 2014, lower government spending in second quarter of 2014 (Q2 2014), and monetary policy tightening, baseline growth projections is revised downwards from 6.6 to 6.4 percent for 2014 and from 6.9 to 6.7 percent for 2015. Strong liquidity and credit growth, as well as higher food and energy prices, continue to exert some risks to price and financial stability. In the medium-term, growth can be sustained and made more inclusive by pursuing structural reforms and investing more in human and physical capital. The Aquino administration has successfully raised tax effort by 1.2 PPT of gross domestic product (GDP) in the last 3 years through the sin tax reform, improved tax administration, and higher growth. These reforms can help the country become more competitive, and in the process create more and better jobs, and accelerate poverty reduction. The Philippine economic update provides an update on key economic and social developments as well as policies over the past 6 months. It also presents findings from recent World Bank studies on the Philippines.en
dc.identifierhttp://documents.worldbank.org/curated/en/2014/08/20148090/philippine-economic-update-investing-future-sharing-growth-job-opportunities-all
dc.identifier.doi10.1596/19974
dc.identifier.urihttps://hdl.handle.net/10986/19974
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectADVERSE IMPACTS
dc.subjectAGRICULTURE
dc.subjectAUDITS
dc.subjectBALANCE OF PAYMENTS
dc.subjectBANKING INDUSTRY
dc.subjectBANKING SECTOR
dc.subjectBANKING SECTOR REFORMS
dc.subjectBENCHMARK
dc.subjectBID
dc.subjectBOND
dc.subjectBOND PRICE
dc.subjectBOND PRICES
dc.subjectBONDS
dc.subjectBUSINESS ENVIRONMENT
dc.subjectCAPITAL ADEQUACY
dc.subjectCAPITAL FLOW
dc.subjectCAPITAL FORMATION
dc.subjectCAPITAL INFLOW
dc.subjectCAPITAL INFLOWS
dc.subjectCAPITAL OUTFLOW
dc.subjectCAPITAL OUTFLOWS
dc.subjectCAPITAL OUTLAYS
dc.subjectCASH TRANSFERS
dc.subjectCENTRAL BANK
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMODITIES
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICES
dc.subjectCOMPETITIVENESS
dc.subjectCONSUMER GOODS
dc.subjectCREDIT EXPANSION
dc.subjectCREDIT GROWTH
dc.subjectCREDIT RATING
dc.subjectCURRENCY
dc.subjectCURRENT ACCOUNT BALANCE
dc.subjectCURRENT ACCOUNT DEFICIT
dc.subjectCURRENT ACCOUNT SURPLUS
dc.subjectDAMAGES
dc.subjectDEBT
dc.subjectDEBT MANAGEMENT
dc.subjectDEBT SECURITIES
dc.subjectDEFAULT RISK
dc.subjectDEPOSIT
dc.subjectDEPOSIT ACCOUNT
dc.subjectDEPOSITORY
dc.subjectDEVALUATION
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT POLICIES
dc.subjectDOMESTIC BANKING
dc.subjectDOMESTIC BORROWINGS
dc.subjectDOMESTIC ECONOMY
dc.subjectDOMESTIC INFLATION
dc.subjectDURABLE
dc.subjectDURABLE EQUIPMENT
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC PERFORMANCE
dc.subjectECONOMIC REFORM
dc.subjectECONOMIC REFORMS
dc.subjectECONOMIC STRUCTURE
dc.subjectELECTRICITY
dc.subjectEMERGING MARKETS
dc.subjectEQUITIES
dc.subjectEQUITY INVESTMENT
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATES
dc.subjectEXCISE TAXES
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORT GROWTH
dc.subjectEXPORT MARKETS
dc.subjectEXPOSURE
dc.subjectEXPOSURES
dc.subjectEXTERNAL DEBT
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL FLOWS
dc.subjectFINANCIAL MANAGEMENT
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKET PARTICIPANTS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL STABILITY
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL MANAGEMENT
dc.subjectFISCAL POLICY
dc.subjectFOREIGN ASSETS
dc.subjectFOREIGN BANKS
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN DEBT
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN INVESTORS
dc.subjectFOREIGN OWNERSHIP
dc.subjectFOREIGN PORTFOLIO
dc.subjectFOREIGN PORTFOLIO INVESTMENTS
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGLOBAL ECONOMIC PROSPECTS
dc.subjectGLOBAL ECONOMY
dc.subjectGOOD GOVERNANCE
dc.subjectGOVERNMENT DEBT
dc.subjectGOVERNMENT DEFICIT
dc.subjectGOVERNMENT SPENDING
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROSS NATIONAL SAVINGS
dc.subjectGROWTH PROJECTIONS
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectHORIZONTAL EQUITY
dc.subjectHUMAN CAPITAL
dc.subjectINCOME TAX
dc.subjectINCOMES
dc.subjectINDEXATION
dc.subjectINELASTIC DEMAND
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINFLATIONARY PRESSURES
dc.subjectINFORMATION TECHNOLOGY
dc.subjectINFRASTRUCTURE INVESTMENTS
dc.subjectINFRASTRUCTURE PROJECT
dc.subjectINSURANCE
dc.subjectINTELLECTUAL PROPERTY
dc.subjectINTEREST PAYMENT
dc.subjectINTEREST PAYMENTS
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL RESERVES
dc.subjectINTERNATIONAL STANDARDS
dc.subjectINTERNATIONAL TRADE
dc.subjectINVENTORIES
dc.subjectINVESTING
dc.subjectINVESTMENT FUNDS
dc.subjectINVESTMENT MANAGEMENT
dc.subjectINVESTOR CONFIDENCE
dc.subjectJOB CREATION
dc.subjectLABOR MARKET
dc.subjectLEASE AGREEMENTS
dc.subjectLEVY
dc.subjectLIABILITY
dc.subjectLIBERALIZATION
dc.subjectLIQUIDITY
dc.subjectLIVING STANDARDS
dc.subjectLOCAL BUSINESS
dc.subjectLOCAL GOVERNMENT
dc.subjectLONG-TERM LOANS
dc.subjectM3
dc.subjectMACROECONOMIC INSTABILITY
dc.subjectMACROECONOMIC STABILITY
dc.subjectMACROECONOMICS
dc.subjectMARKET PERFORMANCE
dc.subjectMARKET REFORMS
dc.subjectMATURITY
dc.subjectMIDDLE-INCOME ECONOMIES
dc.subjectMONETARY FUND
dc.subjectMONETARY POLICIES
dc.subjectMONETARY POLICY
dc.subjectMONEY SUPPLY
dc.subjectNATIONAL SAVINGS
dc.subjectNATURAL DISASTERS
dc.subjectNET EXPORTS
dc.subjectOUTPUT
dc.subjectOUTPUT GAP
dc.subjectOUTSOURCING
dc.subjectPER CAPITA INCOME
dc.subjectPERSONAL INCOME
dc.subjectPOLITICAL STABILITY
dc.subjectPORTFOLIO
dc.subjectPORTFOLIO INFLOW
dc.subjectPORTFOLIO INVESTMENT
dc.subjectPORTFOLIO INVESTMENTS
dc.subjectPOTENTIAL OUTPUT
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATIZATION
dc.subjectPRODUCTION COSTS
dc.subjectPROPERTY MARKET
dc.subjectPROPERTY RIGHTS
dc.subjectPUBLIC
dc.subjectPUBLIC FINANCE
dc.subjectPUBLIC INFRASTRUCTURE
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC INVESTMENTS
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SPENDING
dc.subjectPUBLIC USE
dc.subjectPUBLIC UTILITY
dc.subjectPUBLIC-PRIVATE PARTNERSHIP
dc.subjectREAL ESTATE
dc.subjectREAL GDP
dc.subjectREAL INCOME
dc.subjectREFORM PROGRAM
dc.subjectREMITTANCE
dc.subjectREMITTANCES
dc.subjectRESERVE
dc.subjectRESERVE REQUIREMENT
dc.subjectRESERVES
dc.subjectREVENUE COLLECTION
dc.subjectSMALL ENTERPRISES
dc.subjectSOCIAL DEVELOPMENTS
dc.subjectSOCIAL PROTECTION
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK MARKET
dc.subjectTARIFF BARRIERS
dc.subjectTAX
dc.subjectTAX CODE
dc.subjectTAX COLLECTION
dc.subjectTAX EXPENDITURES
dc.subjectTAX INCENTIVES
dc.subjectTAX POLICIES
dc.subjectTAX POLICY
dc.subjectTAX RATE
dc.subjectTAX RATES
dc.subjectTAX REGIME
dc.subjectTAX REVENUES
dc.subjectTAX SYSTEM
dc.subjectTELECOMMUNICATIONS
dc.subjectTOTAL COSTS
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTOTAL REVENUE
dc.subjectTRADE DEFICIT
dc.subjectTRANCHES
dc.subjectTRANSPARENCY
dc.subjectTREASURY
dc.subjectTURNOVER
dc.subjectUNEMPLOYMENT
dc.subjectVOLATILITIES
dc.subjectVOLATILITY
dc.subjectWAGES
dc.subjectWORLD DEVELOPMENT INDICATORS
dc.subjectWORLD TRADE
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titlePhilippine Economic Update, August 2014 : Investing in the Future, Sharing Growth and Job Opportunities for Allen
dspace.entity.typePublication
okr.date.disclosure2014-08-27
okr.date.doiregistration2025-05-07T11:26:47.161270Z
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/2014/08/20148090/philippine-economic-update-investing-future-sharing-growth-job-opportunities-all
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.guid713661468297549646
okr.identifier.externaldocumentum000442464_20140827105712
okr.identifier.internaldocumentum20148090
okr.identifier.report89605
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2014/08/27/000442464_20140827105712/Rendered/PDF/896050WP0Box380c0Update0August02014.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryPhilippines
okr.topicPublic Sector Economics
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicEconomic Theory and Research
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicPublic Sector Development
okr.topicMacroeconomics and Economic Growth
okr.unitMacro & Fiscal Mgmt - GP (GMFDR)
okr.volume1 of 1
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