Philippines Economic Update, April 2017

Philippines Economic Update, April 2017

The Philippine economy remained resilient to global headwinds in 2016. While a slower-than-expected global recovery weakened net exports, surging domestic demands pushed the annual GDP growth rate to 6.8 percent, year-on-year. Investment drove econ...

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Bibliographic Details
Main Author: World Bank
Format: Report
Language:English
en_US
Published: World Bank, Washington, DC 2017
Subjects:
ECONOMIC GROWTH
ECONOMIC OUTLOOK
FISCAL TRENDS
MONETARY POLICY
EXCHANGE RATES
EMPLOYMENT
POVERTY
SHARED PROSPERITY
TRADE POLICY
EXPORT COMPETITIVENESS
GLOBAL VALUE CHAIN
COMPARATIVE ADVANTAGE
Online Access:http://documents.worldbank.org/curated/en/746271491832911953/Philippines-Economic-Update-Advancing-the-Investment-Agenda
http://hdl.handle.net/10986/26399
id okr-10986-26399
recordtype oai_dc
spelling okr-10986-263992021-05-25T08:59:23Z Philippines Economic Update, April 2017 World Bank ECONOMIC GROWTH ECONOMIC OUTLOOK FISCAL TRENDS MONETARY POLICY EXCHANGE RATES EMPLOYMENT POVERTY SHARED PROSPERITY TRADE POLICY EXPORT COMPETITIVENESS GLOBAL VALUE CHAIN COMPARATIVE ADVANTAGE The Philippine economy remained resilient to global headwinds in 2016. While a slower-than-expected global recovery weakened net exports, surging domestic demands pushed the annual GDP growth rate to 6.8 percent, year-on-year. Investment drove economy-wide growth for the first time since 2013, as the government's expansionary fiscal-policy stance helped capital formation to expand by 20.8 percent year-on-year led by the construction sector. Consumption growth remained strong at a rate of 6.9 percent year-on-year, as accommodative monetary policies kept interest rates low, supporting a double-digit expansion in consumer lending. Meanwhile, low inflation at 1.8 percent boosted households' purchasing power, while a steady increase in remittance inflows accelerated the growth of household consumption. Overall, 2016 saw a marked rise in consumer confidence, reflecting a healthy job market and effective social protection programs. 2017-04-19T20:02:39Z 2017-04-19T20:02:39Z 2017-04 Report http://documents.worldbank.org/curated/en/746271491832911953/Philippines-Economic-Update-Advancing-the-Investment-Agenda http://hdl.handle.net/10986/26399 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work East Asia and Pacific Philippines
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic ECONOMIC GROWTH
ECONOMIC OUTLOOK
FISCAL TRENDS
MONETARY POLICY
EXCHANGE RATES
EMPLOYMENT
POVERTY
SHARED PROSPERITY
TRADE POLICY
EXPORT COMPETITIVENESS
GLOBAL VALUE CHAIN
COMPARATIVE ADVANTAGE
spellingShingle ECONOMIC GROWTH
ECONOMIC OUTLOOK
FISCAL TRENDS
MONETARY POLICY
EXCHANGE RATES
EMPLOYMENT
POVERTY
SHARED PROSPERITY
TRADE POLICY
EXPORT COMPETITIVENESS
GLOBAL VALUE CHAIN
COMPARATIVE ADVANTAGE
World Bank
Philippines Economic Update, April 2017
geographic_facet East Asia and Pacific
Philippines
description The Philippine economy remained resilient to global headwinds in 2016. While a slower-than-expected global recovery weakened net exports, surging domestic demands pushed the annual GDP growth rate to 6.8 percent, year-on-year. Investment drove economy-wide growth for the first time since 2013, as the government's expansionary fiscal-policy stance helped capital formation to expand by 20.8 percent year-on-year led by the construction sector. Consumption growth remained strong at a rate of 6.9 percent year-on-year, as accommodative monetary policies kept interest rates low, supporting a double-digit expansion in consumer lending. Meanwhile, low inflation at 1.8 percent boosted households' purchasing power, while a steady increase in remittance inflows accelerated the growth of household consumption. Overall, 2016 saw a marked rise in consumer confidence, reflecting a healthy job market and effective social protection programs.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Philippines Economic Update, April 2017
title_short Philippines Economic Update, April 2017
title_full Philippines Economic Update, April 2017
title_fullStr Philippines Economic Update, April 2017
title_full_unstemmed Philippines Economic Update, April 2017
title_sort philippines economic update, april 2017
publisher World Bank, Washington, DC
publishDate 2017
url http://documents.worldbank.org/curated/en/746271491832911953/Philippines-Economic-Update-Advancing-the-Investment-Agenda
http://hdl.handle.net/10986/26399
_version_ 1764461989087674368

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