Publication: Philippines : Invigorating Growth, Enhancing Its Impact
Date
2007-05
ISSN
Published
2007-05
Author(s)
World Bank
Abstract
Major fiscal adjustment during 2005-06,
aided by abundant global liquidity, has turned around market
sentiment on the Philippines. Stocks, the peso and reserves
have all risen significantly, as have foreign direct
investment and portfolio inflows, while interest costs and
spreads for government borrowing have fallen along with
inflation. Real GDP grew by 5.4 percent in 2006 and real GNP
by 6.2 percent, marking the first time that three
consecutive years of growth of 5 or more percent was
recorded since the 1970s. Strong growth in business process
outsourcing, electronics exports and remittance-driven
consumption served as important props for higher growth.
This paper includes the following headings: recent economic
developments; how robust is present growth; invigorating
growth, enhancing its impact; and maximizing the benefits of
growth for the poor.
Citation
“World Bank. 2007. Philippines : Invigorating Growth, Enhancing Its Impact. © Washington, DC. http://openknowledge.worldbank.org/entities/publication/dcc198d6-574d-529f-936c-717058ce55c6 License: CC BY 3.0 IGO.”