Philippines: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for the Philippines

International Monetary Fund

No 2015/246, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2015 Article IV Consultation highlights that the Philippine economy continues to expand strongly in line with potential growth. Real GDP grew by 6.1 percent in 2014, driven by household consumption, private construction, and exports of goods and services. Economic growth slowed in the first quarter of 2015, owing mainly to temporary factors, including the effects of dry weather on agricultural production, weak global demand for exports, and slow budget execution. The outlook for the Philippine economy remains favorable despite uneven and generally weaker global growth prospects. Real GDP is projected to grow by 6.2 percent in 2015, as lower commodity prices lift household consumption and improved budget execution raises public spending.

Keywords: ISCR; CR; authority; economy; IMF staff projection; break; Philippines; short-term debt; checkless disbursement scheme; output gap; government initiative; US$ billion; Public investment and public-private partnerships (PPP); Credit; Public investment spending; Global; Asia and Pacific (search for similar items in EconPapers)
Pages: 75
Date: 2015-09-04
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