World Bank2016-06-022016-06-022016-04https://hdl.handle.net/10986/24397The Philippine Economic Update (PEU) provides an update on key economic and social developments, as well as policies over the past six months. It also presents findings from recent World Bank studies on the Philippines. It places them in a longer term and global context, and assesses the implications of these developments and policies on the outlook for the Philippines. Its coverage ranges from the macro-economy and financial markets to indicators of human welfare and development. It is intended for a wide audience, including policymakers, business leaders, financial market participants, and the community of analysts and professionals engaged in the Philippines. Poverty reduction is expected to continue if the country is able to maintain the relatively high economic growth and the more positive job trends in recent years, despite recent shocks to agriculture. Recent trends show an improvement in the country’s growth-poverty elasticity, which means growth is becoming more inclusive. However, the recent increase in the underemployment rate and weak agricultural output in 2016 will need to be countered by sustained increase in per capita income growth and a continued focus on supporting the structurally poor through effective social protection programs. Under these assumptions, extreme poverty is projected to further decrease from nine percent in 2014 to 6.8 percent in 2018.en-USCC BY 3.0 IGOTAX INCENTIVESOLIGOPOLISTIC MARKETMONETARY POLICYEQUIPMENTFINANCIAL MARKET PARTICIPANTSFIXED INCOMEDEEDVALUATIONINTERESTPUBLIC INVESTMENTSREMITTANCEDEBT MANAGEMENTCREDIT RATING AGENCIESREVENUESPORTFOLIOFISCAL POLICYINSURANCE CORPORATIONCURRENT ACCOUNT SURPLUSESLACK OF COMPETITIONINSTRUMENTSMARKET PARTICIPANTSCERTIFICATE OF TITLECAPITAL OUTFLOWOIL PRICESINVESTMENT SPENDINGBENEFICIARYINTEREST EXPENSEEXPORT GROWTHMARKET VALUESCOMMERCIAL BANKINCOME INSTRUMENTST- BILL RATESINCOME GROWTHCAPITAL FORMATIONTAX REGIMEEXCHANGE RATESEMERGING MARKETDEBTMARKETSLOCAL GOVERNMENTINFLATION RATESETTLEMENTBUDGET DEFICITDOMESTIC DEBTBORROWING COSTSDEBT SERVICERESERVE REQUIREMENTLEGAL FRAMEWORKMARKET ECONOMIESBANKING SECTORFISCAL DEFICITTRANSACTIONSINTERNATIONAL STANDARDSHUMAN CAPITALGOODGOVERNMENT BUDGETINTERNATIONAL TRADETRANSPARENCYFUTUREMARKET PRICESMOBILE PHONEFOREIGN DIRECT INVESTMENTSHORT-TERM EXTERNAL DEBTLEGAL AUTHORITYFOREIGN INVESTMENTINTEREST PAYMENTT- BILLLAND RECORDSLAND PARCELSISSUANCETAX RATESSHARESREAL EXCHANGE RATEDEBT RATIOSTREASURYINSURANCEGOVERNMENT DEBTFOREIGN PORTFOLIO INVESTMENTSREGISTRATION SYSTEMPRIVATE INVESTMENTSPORTFOLIO INVESTMENTLENDINGPUBLIC SECTOR DEBTDEBT SWAPPUBLIC SPENDINGREMITTANCESCOMMODITY PRICESPAYMENT SYSTEMSDURABLE EQUIPMENTCREDIT MARKETINVESTINGTARIFFSDEEDSDEFICITDEPOSITREGULATORY FRAMEWORKBASIS POINTSLIABILITYMARKET STRUCTUREOIL PRICEFOREIGN DIRECT INVESTMENTSFINANCIAL MANAGEMENTSTOCKFOREIGN INVESTORSINFORMATION TECHNOLOGYINFORMATION SYSTEMMACROECONOMIC MANAGEMENTASSET PRICESGOVERNMENT SPENDINGDEBT STOCKMONEY SUPPLYEMERGING ECONOMIESEXCHANGEPROPERTY RIGHTSSTOCK MARKETBALANCE OF PAYMENTSLOCAL GOVERNMENTSEQUITY MARKETREGISTRATION PROCESSESTAX COLLECTIONGOVERNMENT BORROWINGNATIONAL SAVINGSPOLITICAL ECONOMYRURAL CREDITTAXCASH TRANSFERINCOME TAXBUDGETINGPLEDGERESERVEBENEFICIARIESINFLATIONEMERGING MARKET ECONOMIESBUDGETCENTRAL BANKMATURITYLEGAL FRAMEWORKSLONG-TERM DEBTMACROECONOMIC STABILITYFISCAL POLICIESLAND TITLINGLACK OF TRANSPARENCYTELECOMMUNICATIONSDISBURSEMENTPOLICY RESPONSESCONTRACTSCURRENT ACCOUNT SURPLUSTRADINGTAX EXEMPTIONSINTEREST RATESOPTIONSDEPOSIT ACCOUNTSCAPITAL OUTFLOWSHOUSEHOLD INCOMEINTEREST DIFFERENTIALSOPEN ECONOMYREGISTRATION FEESDIRECT INVESTMENTLOCAL FINANCIAL MARKETSRESERVESGROSS DOMESTIC PRODUCTPORTFOLIO INVESTMENTSCASH TRANSFERSFINANCETAXESEXPENDITUREEQUITYTRANSACTIONINVESTORSVALUATIONSOPPORTUNITY COSTCAPITAL OUTLAYSTAX RATEFRAUDCOMPLIANCE COSTSGOVERNMENT FINANCERETURNSSHORT-TERM DEBTBUDGETSPURCHASING POWERINVESTOR CONFIDENCECONTRACTPRICE STABILITYGOVERNMENT REVENUEEXPENDITURESCAPITAL FLOWSFINANCIAL ASSETBIDSPROPERTYDOMESTIC FINANCIAL MARKETPROPERTIESOPPORTUNITY COSTSTRANSACTION COSTSMARKETCREDIT RATINGBANK ACCOUNTSINTERESTSGOODSINVESTORMARKET SHARESECURITYFINANCIAL MARKETDURABLESTOCKSSTOCK EXCHANGEINVESTMENTBONDSHAREINVESTMENT CLIMATETAX SYSTEMPOVERTYFINANCIAL MARKETSTARIFFDEBT SERVICE PAYMENTSBOND PRICESBIDDECENTRALIZATIONREVENUEEXTERNAL DEBTTAX POLICYINVESTMENTSMACROECONOMIC POLICIESRURAL CREDIT MARKETEXCHANGE RATEDEBT SERVICINGPROFITSDIRECT INVESTMENTSDEBT MANAGEMENT POLICYFOREIGN EQUITYSMALL BUSINESSESSWAPREAL PROPERTYReportWorld Bank10.1596/24397