Philippines: 2017 Article IV Consultation-Press Release; Staff Report

November 10, 2017

Preview Citation

Format: Chicago

Philippines: 2017 Article IV Consultation-Press Release; Staff Report, (USA: International Monetary Fund, 2017) accessed November 25, 2024

Summary

This 2017 Article IV Consultation highlights the Philippine economy’s continued good performance. Real GDP growth reached 6.9 percent in 2016 and 6.4 percent in the first half of 2017, led by robust domestic demand, a recovery in exports, and a fiscal impulse. The unemployment rate remains low at 5.5 percent. The external and fiscal positions are robust, with the current account balance near zero, gross international reserves at US$81 billion, and the general government net debt at 34.6 percent of GDP. The outlook for the economy is favorable despite external headwinds. Real GDP growth is projected at 6.6 percent in 2017 and 6.7 percent in 2018, owing to continued robust domestic demand.

Subject: Credit, Expenditure, Fiscal policy, Money, Public debt, Public financial management (PFM)

Keywords: Bangko Sentral ng Pilipinas, Break, Core inflation, CR, Credit, Credit growth, Global, Government deficit ceiling, Headline inflation, IMF definition, IMF staff projection, Inflation expectation, ISCR, Philippines

Publication Details

Pages:

74
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/334
Stock No:

1PHLEA2017001
ISBN:

9781484326831
ISSN:

1934-7685

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