Publication:
Philippines Quarterly Update, March 2012: From Stability to Prosperity for All

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dc.contributor.authorWorld Bank
dc.date.accessioned2017-05-24T14:54:27Z
dc.date.available2017-05-24T14:54:27Z
dc.date.issued2012-03
dc.description.abstractThe Philippine economy grew slower than expected at 3.7 percent in 2011, held back by weak public spending and external demand. In the fourth quarter (Q4), growth slightly improved at 3.7 percent. As in past quarters, growth was driven by remittance-fueled household consumption, which grew by 6.7 percent. The government's disbursement acceleration plan was partially successful and contributed 1.3 percentage points (ppt) to gross domestic product, or GDP growth in Q4, up from 0.3 ppt in Q3, but this was not enough to push growth up to the targeted level of around five percent. On the production side, the services sector, including the fast-growing business process outsourcing (BPO) industry, continued to drive growth. Industry, in particular exports manufacturing, was buffeted by weaker demand, while agriculture suffered from typhoon damages, highlighting the need to improve disaster and risk management. The country is benefiting from strong macroeconomic fundamentals, political stability, and a popular government that is seen by many as committed to improving governance and reducing poverty. Several reforms have successfully started, notably in public financial management. However, the window of opportunity is narrowing given elections in 2013 and 2016 and the historical difficulty of moving forward with reforms when the campaign period kicks in. Now is the time to implement the reforms needs to accelerate growth, create jobs, and reduce poverty.en
dc.identifierhttp://documents.worldbank.org/curated/en/763051468094148613/Philippines-quarterly-update-from-stability-to-prosperity-for-all
dc.identifier.doi10.1596/26748
dc.identifier.urihttps://hdl.handle.net/10986/26748
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Manila
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectOutput
dc.subjectDemand
dc.subjectEmployment
dc.subjectPoverty
dc.subjectPoverty reduction
dc.subjectFinancial markets
dc.subjectInflation
dc.subjectPoverty reduction
dc.subjectMonetary policy
dc.subjectFiscal policy
dc.subjectEconomic costs of disasters
dc.subjectConflict and displacement
dc.subjectReal estate
dc.subjectDisbursements
dc.subjectAbsorptive capacity
dc.titlePhilippines Quarterly Update, March 2012en
dc.title.subtitleFrom Stability to Prosperity for Allen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titlePhilippines Quarterly Update, March 2012
okr.date.disclosure2012-03
okr.date.doiregistration2025-05-07T11:02:58.603491Z
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/763051468094148613/Philippines-quarterly-update-from-stability-to-prosperity-for-all
okr.guid763051468094148613
okr.identifier.externaldocumentum000333037_20120612011744
okr.identifier.internaldocumentum16360895
okr.identifier.report69833
okr.importedtrue
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/763051468094148613/pdf/698330WP0P12740ch020120FINAL0051012.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryPhilippines
okr.sectorPublic Administration, Law, and Justice
okr.themeEconomic management :: Analysis of economic growth
okr.themeEconomic management :: Macroeconomic management
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicConflict and Development::Armed Conflict
okr.topicConflict and Development::Disaster Management
okr.topicMacroeconomics and Economic Growth::Economic Forecasting
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Economic Policy, Institutions and Governance
okr.topicPoverty Reduction::Employment and Shared Growth
okr.topicPrivate Sector Development::Land and Real Estate Development
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