Philippines Quarterly Update, December 2011 : Sustaining Growth in Uncertain Times

After a strong rebound in 2010, Philippine economic growth slowed by more than half to 3.6 percent in the first three quarters of 2011. Slower third quarter (Q3) growth of 3.2 percent was the result of significant contractions in exports and public...

Full description

Bibliographic Details
Main Author: World Bank Group
Format: Report
Language:English
en_US
Published: World Bank, Pasig City, Philippines 2017
Subjects:
GDP
TAX
WTO
Online Access:http://documents.worldbank.org/curated/en/312111468298449219/Philippines-quarterly-update-sustaining-growth-in-uncertain-times
http://hdl.handle.net/10986/26692
id okr-10986-26692
recordtype oai_dc
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 ACCOUNTING
ADVANCED COUNTRIES
ADVANCED ECONOMIES
AGRICULTURE
ASSET PRICE
ASSET QUALITY
BALANCE SHEETS
BANK LENDING
BANK OFFICE
BANKING SYSTEM
BASE YEAR
BASIS POINTS
BENCHMARKS
BORROWING COST
BORROWING REQUIREMENTS
BUDGET DEFICIT
BUDGETING
BUSINESS ENVIRONMENT
CAPITAL ACCOUNTS
CAPITAL ADEQUACY
CAPITAL INFLOWS
CAPITAL INVESTMENT
CAPITAL OUTFLOWS
CAPITAL OUTLAY
CASH TRANSFER
CENTRAL BANK
COMMODITY
COMMODITY PRICES
COMPARATIVE ADVANTAGE
COMPETITIVENESS
CONSUMERS
CREDIT CARD
CREDIT EXPANSION
CREDIT GROWTH
CREDIT QUALITY
CREDIT RATING
DEBT CRISIS
DEBT LEVELS
DEBT MATURITY
DEBT PAYMENT
DEBT RATIO
DEBT STOCK
DEFAULT RATING
DEPOSIT
DEPOSIT ACCOUNT
DEVELOPING COUNTRIES
DISBURSEMENT
DOLLAR PRICE
DOMESTIC ECONOMY
DOMESTIC INTEREST RATES
DOMESTIC LIQUIDITY
DURABLE
DURABLE EQUIPMENT
ECONOMIC GROWTH
EMERGING MARKETS
EQUITY MARKET
EXCHANGE RATE
EXCISE TAXES
EXPANSIONARY POLICY
EXPENDITURE
EXPENDITURES
EXPORT GROWTH
EXPORT MARKETS
EXPORT PERFORMANCE
EXPORTER
EXPORTS
EXPOSURE
EXTERNAL DEBT
FINANCIAL MANAGEMENT
FINANCIAL MARKET
FINANCIAL MARKET PARTICIPANTS
FINANCIAL SECTOR
FINANCIAL STABILITY
FINANCIAL SYSTEM
FISCAL CONSOLIDATION
FISCAL DEFICIT
FISCAL POLICY
FIXED INVESTMENT
FOOD PRICES
FORECASTS
FOREIGN BANKS
FOREIGN CURRENCY
FOREIGN DIRECT INVESTMENT
FOREIGN EXCHANGE
FOREIGN EXCHANGE MARKET
FOREIGN EXCHANGE TRANSACTIONS
FOREIGN FIRMS
FOREIGN INVESTORS
FOREIGN PORTFOLIO
FOREIGN PORTFOLIO INVESTMENTS
GDP
GLOBAL MARKET
GLOBAL TRADE
GOVERNMENT BONDS
GOVERNMENT BUDGET
GOVERNMENT DEBT
GOVERNMENT SECURITIES
GOVERNMENT SPENDING
GROSS VALUE
GROWTH POTENTIAL
GROWTH RATE
HOLDINGS
HOUSEHOLD INCOME
HUMAN CAPITAL
HUMAN RESOURCE
INCOME GROUP
INCOME LEVELS
INDEXATION
INELASTIC DEMAND
INFLATION
INFLATION RATE
INFLATIONARY PRESSURES
INSURANCE
INTEREST RATE
INTERNATIONAL RESERVES
INTERNATIONAL SETTLEMENTS
INTERNATIONAL STANDARD
INVENTORY
INVESTMENT CLIMATE
INVESTMENTS IN EQUITIES
ISSUANCE
JOB CREATION
LABOR MARKET
LEASE AGREEMENTS
LENDING LIMITS
LIABILITY
LIQUIDITY
LIQUIDITY MANAGEMENT
LOCAL CURRENCY
LOCAL GOVERNMENT
LONG-TERM LOANS
LOW INTEREST RATE
MACROECONOMIC STABILITY
MARKET LIQUIDITY
MARKET PERFORMANCE
MARKET RISK
MARKET SHARE
MATURITY
MIDDLE INCOME COUNTRIES
MOBILE PHONE
MONETARY AUTHORITIES
MONETARY FUND
MONETARY POLICY
NEGATIVE EXTERNALITIES
NET EXPORTS
NON-PERFORMING LOAN
OPEN ECONOMY
OUTPUT
OUTSOURCING
PARTICULAR COUNTRY
PER CAPITA INCOME
POLITICAL STABILITY
PORTFOLIO
PORTFOLIO INFLOWS
PRICE ELASTICITY
PRICE ELASTICITY OF DEMAND
PRICE INCREASES
PRIVATE CREDIT
PROFIT MARGIN
PUBLIC FINANCES
PUBLIC INVESTMENT
PUBLIC SECTOR DEFICITS
PUBLIC SPENDING
PUBLIC-PRIVATE PARTNERSHIP
RAPID GROWTH
REAL ESTATE
REAL INTEREST
REAL INTEREST RATES
RECESSION
REFORM PROGRAM
REGIONAL TRADE
REGULATORY REQUIREMENTS
REGULATORY SYSTEM
REMITTANCE
RESERVE
RESERVE REQUIREMENT
RESERVES
RETURN
RISK AVERSION
RISK PROFILE
RISK WEIGHT
SAVINGS
SHORT-TERM BORROWING
SHORT-TERM CAPITAL
SHORT-TERM DEBT
SOCIAL DEVELOPMENTS
SOCIAL PROTECTION
SOVEREIGN DEBT
STOCK EXCHANGE
STOCK MARKET
STOCK MARKET INDEX
STOCKS
SUPPLY SHOCKS
SWAP
T-BILL
T-BILL RATE
TAX
TAX INCENTIVES
TAX POLICY
TAX RATE
TAX REGIME
TAX REVENUES
TAX SYSTEM
TAXATION
TRADE BALANCE
TRADE DEFICIT
TRADE REGIME
TRADING
TRADITIONAL MARKETS
TRANSPARENCY
TREASURY
TREASURY BOND
TREASURY BOND AUCTIONS
TROUGH
UNEMPLOYMENT
VOLATILITY
WORLD DEVELOPMENT INDICATORS
WTO
spellingShingle ACCOUNTING
ADVANCED COUNTRIES
ADVANCED ECONOMIES
AGRICULTURE
ASSET PRICE
ASSET QUALITY
BALANCE SHEETS
BANK LENDING
BANK OFFICE
BANKING SYSTEM
BASE YEAR
BASIS POINTS
BENCHMARKS
BORROWING COST
BORROWING REQUIREMENTS
BUDGET DEFICIT
BUDGETING
BUSINESS ENVIRONMENT
CAPITAL ACCOUNTS
CAPITAL ADEQUACY
CAPITAL INFLOWS
CAPITAL INVESTMENT
CAPITAL OUTFLOWS
CAPITAL OUTLAY
CASH TRANSFER
CENTRAL BANK
COMMODITY
COMMODITY PRICES
COMPARATIVE ADVANTAGE
COMPETITIVENESS
CONSUMERS
CREDIT CARD
CREDIT EXPANSION
CREDIT GROWTH
CREDIT QUALITY
CREDIT RATING
DEBT CRISIS
DEBT LEVELS
DEBT MATURITY
DEBT PAYMENT
DEBT RATIO
DEBT STOCK
DEFAULT RATING
DEPOSIT
DEPOSIT ACCOUNT
DEVELOPING COUNTRIES
DISBURSEMENT
DOLLAR PRICE
DOMESTIC ECONOMY
DOMESTIC INTEREST RATES
DOMESTIC LIQUIDITY
DURABLE
DURABLE EQUIPMENT
ECONOMIC GROWTH
EMERGING MARKETS
EQUITY MARKET
EXCHANGE RATE
EXCISE TAXES
EXPANSIONARY POLICY
EXPENDITURE
EXPENDITURES
EXPORT GROWTH
EXPORT MARKETS
EXPORT PERFORMANCE
EXPORTER
EXPORTS
EXPOSURE
EXTERNAL DEBT
FINANCIAL MANAGEMENT
FINANCIAL MARKET
FINANCIAL MARKET PARTICIPANTS
FINANCIAL SECTOR
FINANCIAL STABILITY
FINANCIAL SYSTEM
FISCAL CONSOLIDATION
FISCAL DEFICIT
FISCAL POLICY
FIXED INVESTMENT
FOOD PRICES
FORECASTS
FOREIGN BANKS
FOREIGN CURRENCY
FOREIGN DIRECT INVESTMENT
FOREIGN EXCHANGE
FOREIGN EXCHANGE MARKET
FOREIGN EXCHANGE TRANSACTIONS
FOREIGN FIRMS
FOREIGN INVESTORS
FOREIGN PORTFOLIO
FOREIGN PORTFOLIO INVESTMENTS
GDP
GLOBAL MARKET
GLOBAL TRADE
GOVERNMENT BONDS
GOVERNMENT BUDGET
GOVERNMENT DEBT
GOVERNMENT SECURITIES
GOVERNMENT SPENDING
GROSS VALUE
GROWTH POTENTIAL
GROWTH RATE
HOLDINGS
HOUSEHOLD INCOME
HUMAN CAPITAL
HUMAN RESOURCE
INCOME GROUP
INCOME LEVELS
INDEXATION
INELASTIC DEMAND
INFLATION
INFLATION RATE
INFLATIONARY PRESSURES
INSURANCE
INTEREST RATE
INTERNATIONAL RESERVES
INTERNATIONAL SETTLEMENTS
INTERNATIONAL STANDARD
INVENTORY
INVESTMENT CLIMATE
INVESTMENTS IN EQUITIES
ISSUANCE
JOB CREATION
LABOR MARKET
LEASE AGREEMENTS
LENDING LIMITS
LIABILITY
LIQUIDITY
LIQUIDITY MANAGEMENT
LOCAL CURRENCY
LOCAL GOVERNMENT
LONG-TERM LOANS
LOW INTEREST RATE
MACROECONOMIC STABILITY
MARKET LIQUIDITY
MARKET PERFORMANCE
MARKET RISK
MARKET SHARE
MATURITY
MIDDLE INCOME COUNTRIES
MOBILE PHONE
MONETARY AUTHORITIES
MONETARY FUND
MONETARY POLICY
NEGATIVE EXTERNALITIES
NET EXPORTS
NON-PERFORMING LOAN
OPEN ECONOMY
OUTPUT
OUTSOURCING
PARTICULAR COUNTRY
PER CAPITA INCOME
POLITICAL STABILITY
PORTFOLIO
PORTFOLIO INFLOWS
PRICE ELASTICITY
PRICE ELASTICITY OF DEMAND
PRICE INCREASES
PRIVATE CREDIT
PROFIT MARGIN
PUBLIC FINANCES
PUBLIC INVESTMENT
PUBLIC SECTOR DEFICITS
PUBLIC SPENDING
PUBLIC-PRIVATE PARTNERSHIP
RAPID GROWTH
REAL ESTATE
REAL INTEREST
REAL INTEREST RATES
RECESSION
REFORM PROGRAM
REGIONAL TRADE
REGULATORY REQUIREMENTS
REGULATORY SYSTEM
REMITTANCE
RESERVE
RESERVE REQUIREMENT
RESERVES
RETURN
RISK AVERSION
RISK PROFILE
RISK WEIGHT
SAVINGS
SHORT-TERM BORROWING
SHORT-TERM CAPITAL
SHORT-TERM DEBT
SOCIAL DEVELOPMENTS
SOCIAL PROTECTION
SOVEREIGN DEBT
STOCK EXCHANGE
STOCK MARKET
STOCK MARKET INDEX
STOCKS
SUPPLY SHOCKS
SWAP
T-BILL
T-BILL RATE
TAX
TAX INCENTIVES
TAX POLICY
TAX RATE
TAX REGIME
TAX REVENUES
TAX SYSTEM
TAXATION
TRADE BALANCE
TRADE DEFICIT
TRADE REGIME
TRADING
TRADITIONAL MARKETS
TRANSPARENCY
TREASURY
TREASURY BOND
TREASURY BOND AUCTIONS
TROUGH
UNEMPLOYMENT
VOLATILITY
WORLD DEVELOPMENT INDICATORS
WTO
World Bank Group
Philippines Quarterly Update, December 2011 : Sustaining Growth in Uncertain Times
geographic_facet East Asia and Pacific
Philippines
description After a strong rebound in 2010, Philippine economic growth slowed by more than half to 3.6 percent in the first three quarters of 2011. Slower third quarter (Q3) growth of 3.2 percent was the result of significant contractions in exports and public investment. The contraction in exports largely reflected weaker demand in advanced economies while public investments continued to shrink in part because of measures to improve accountability of public spending. On the production side, industrial and agricultural activities were sluggish, leaving the services sector to buoy growth. To improve growth outcome in the remainder of the year, the government announced a PHP 72 billion (about 0.7 percent of GDP) disbursement acceleration plan to ensure that budgeted items are spent by year end. After a strong rebound in 2010, Philippine economic growth slowed by more than half to 3.6 percent in the first three quarters of 2011, bringing year to date growth below the government's revised target of 4.5 to 5.5 percent for 2011. Q3 growth of 3.2 percent was driven by private consumption and inventory build-up, which grew by 7.1 and 147.7 percent respectively. The country's slower expansion places it behind its neighbors with Indonesia, Vietnam, and Singapore growing above 6 percent, Malaysia at 5.8 percent, and Thailand, which was devastated by massive flooding in recent months, at 3.5 percent.
format Report
author World Bank Group
author_facet World Bank Group
author_sort World Bank Group
title Philippines Quarterly Update, December 2011 : Sustaining Growth in Uncertain Times
title_short Philippines Quarterly Update, December 2011 : Sustaining Growth in Uncertain Times
title_full Philippines Quarterly Update, December 2011 : Sustaining Growth in Uncertain Times
title_fullStr Philippines Quarterly Update, December 2011 : Sustaining Growth in Uncertain Times
title_full_unstemmed Philippines Quarterly Update, December 2011 : Sustaining Growth in Uncertain Times
title_sort philippines quarterly update, december 2011 : sustaining growth in uncertain times
publisher World Bank, Pasig City, Philippines
publishDate 2017
url http://documents.worldbank.org/curated/en/312111468298449219/Philippines-quarterly-update-sustaining-growth-in-uncertain-times
http://hdl.handle.net/10986/26692
_version_ 1764462505574268928
spelling okr-10986-266922021-04-23T14:04:37Z Philippines Quarterly Update, December 2011 : Sustaining Growth in Uncertain Times World Bank Group ACCOUNTING ADVANCED COUNTRIES ADVANCED ECONOMIES AGRICULTURE ASSET PRICE ASSET QUALITY BALANCE SHEETS BANK LENDING BANK OFFICE BANKING SYSTEM BASE YEAR BASIS POINTS BENCHMARKS BORROWING COST BORROWING REQUIREMENTS BUDGET DEFICIT BUDGETING BUSINESS ENVIRONMENT CAPITAL ACCOUNTS CAPITAL ADEQUACY CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL OUTFLOWS CAPITAL OUTLAY CASH TRANSFER CENTRAL BANK COMMODITY COMMODITY PRICES COMPARATIVE ADVANTAGE COMPETITIVENESS CONSUMERS CREDIT CARD CREDIT EXPANSION CREDIT GROWTH CREDIT QUALITY CREDIT RATING DEBT CRISIS DEBT LEVELS DEBT MATURITY DEBT PAYMENT DEBT RATIO DEBT STOCK DEFAULT RATING DEPOSIT DEPOSIT ACCOUNT DEVELOPING COUNTRIES DISBURSEMENT DOLLAR PRICE DOMESTIC ECONOMY DOMESTIC INTEREST RATES DOMESTIC LIQUIDITY DURABLE DURABLE EQUIPMENT ECONOMIC GROWTH EMERGING MARKETS EQUITY MARKET EXCHANGE RATE EXCISE TAXES EXPANSIONARY POLICY EXPENDITURE EXPENDITURES EXPORT GROWTH EXPORT MARKETS EXPORT PERFORMANCE EXPORTER EXPORTS EXPOSURE EXTERNAL DEBT FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKET PARTICIPANTS FINANCIAL SECTOR FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL CONSOLIDATION FISCAL DEFICIT FISCAL POLICY FIXED INVESTMENT FOOD PRICES FORECASTS FOREIGN BANKS FOREIGN CURRENCY FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE MARKET FOREIGN EXCHANGE TRANSACTIONS FOREIGN FIRMS FOREIGN INVESTORS FOREIGN PORTFOLIO FOREIGN PORTFOLIO INVESTMENTS GDP GLOBAL MARKET GLOBAL TRADE GOVERNMENT BONDS GOVERNMENT BUDGET GOVERNMENT DEBT GOVERNMENT SECURITIES GOVERNMENT SPENDING GROSS VALUE GROWTH POTENTIAL GROWTH RATE HOLDINGS HOUSEHOLD INCOME HUMAN CAPITAL HUMAN RESOURCE INCOME GROUP INCOME LEVELS INDEXATION INELASTIC DEMAND INFLATION INFLATION RATE INFLATIONARY PRESSURES INSURANCE INTEREST RATE INTERNATIONAL RESERVES INTERNATIONAL SETTLEMENTS INTERNATIONAL STANDARD INVENTORY INVESTMENT CLIMATE INVESTMENTS IN EQUITIES ISSUANCE JOB CREATION LABOR MARKET LEASE AGREEMENTS LENDING LIMITS LIABILITY LIQUIDITY LIQUIDITY MANAGEMENT LOCAL CURRENCY LOCAL GOVERNMENT LONG-TERM LOANS LOW INTEREST RATE MACROECONOMIC STABILITY MARKET LIQUIDITY MARKET PERFORMANCE MARKET RISK MARKET SHARE MATURITY MIDDLE INCOME COUNTRIES MOBILE PHONE MONETARY AUTHORITIES MONETARY FUND MONETARY POLICY NEGATIVE EXTERNALITIES NET EXPORTS NON-PERFORMING LOAN OPEN ECONOMY OUTPUT OUTSOURCING PARTICULAR COUNTRY PER CAPITA INCOME POLITICAL STABILITY PORTFOLIO PORTFOLIO INFLOWS PRICE ELASTICITY PRICE ELASTICITY OF DEMAND PRICE INCREASES PRIVATE CREDIT PROFIT MARGIN PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC SECTOR DEFICITS PUBLIC SPENDING PUBLIC-PRIVATE PARTNERSHIP RAPID GROWTH REAL ESTATE REAL INTEREST REAL INTEREST RATES RECESSION REFORM PROGRAM REGIONAL TRADE REGULATORY REQUIREMENTS REGULATORY SYSTEM REMITTANCE RESERVE RESERVE REQUIREMENT RESERVES RETURN RISK AVERSION RISK PROFILE RISK WEIGHT SAVINGS SHORT-TERM BORROWING SHORT-TERM CAPITAL SHORT-TERM DEBT SOCIAL DEVELOPMENTS SOCIAL PROTECTION SOVEREIGN DEBT STOCK EXCHANGE STOCK MARKET STOCK MARKET INDEX STOCKS SUPPLY SHOCKS SWAP T-BILL T-BILL RATE TAX TAX INCENTIVES TAX POLICY TAX RATE TAX REGIME TAX REVENUES TAX SYSTEM TAXATION TRADE BALANCE TRADE DEFICIT TRADE REGIME TRADING TRADITIONAL MARKETS TRANSPARENCY TREASURY TREASURY BOND TREASURY BOND AUCTIONS TROUGH UNEMPLOYMENT VOLATILITY WORLD DEVELOPMENT INDICATORS WTO After a strong rebound in 2010, Philippine economic growth slowed by more than half to 3.6 percent in the first three quarters of 2011. Slower third quarter (Q3) growth of 3.2 percent was the result of significant contractions in exports and public investment. The contraction in exports largely reflected weaker demand in advanced economies while public investments continued to shrink in part because of measures to improve accountability of public spending. On the production side, industrial and agricultural activities were sluggish, leaving the services sector to buoy growth. To improve growth outcome in the remainder of the year, the government announced a PHP 72 billion (about 0.7 percent of GDP) disbursement acceleration plan to ensure that budgeted items are spent by year end. After a strong rebound in 2010, Philippine economic growth slowed by more than half to 3.6 percent in the first three quarters of 2011, bringing year to date growth below the government's revised target of 4.5 to 5.5 percent for 2011. Q3 growth of 3.2 percent was driven by private consumption and inventory build-up, which grew by 7.1 and 147.7 percent respectively. The country's slower expansion places it behind its neighbors with Indonesia, Vietnam, and Singapore growing above 6 percent, Malaysia at 5.8 percent, and Thailand, which was devastated by massive flooding in recent months, at 3.5 percent. 2017-05-22T16:41:19Z 2017-05-22T16:41:19Z 2011-12 Report http://documents.worldbank.org/curated/en/312111468298449219/Philippines-quarterly-update-sustaining-growth-in-uncertain-times http://hdl.handle.net/10986/26692 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Pasig City, Philippines Economic & Sector Work :: Economic Updates and Modeling Economic & Sector Work East Asia and Pacific Philippines