Philippines: Staff Report for the 2006 Article IV Consultation
Volume/Issue:
Volume 2007
Issue 062
Publication date: February 2007
ISBN: 9781451831399
$20.00
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Topics covered in this book
This title contains information about the following subjects.
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Banks and Banking , Exports and Imports , Inflation , Economics- Macroeconomics , Public Finance , ISCR , CR , policy stance , Staff Report state , deficit , policy , statement , market participant , deficit target , inflation outlook , privatization receipt , fiscal policy reform , better-than-programmed National Government , Public sector , Inflation , Global
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Summary
The 2006 Article IV Consultation on the Philippines discusses stronger exports and reduced inflation, with the 12-month rate back within the inflation target. Remittances have continued to grow strongly, and the balance of payments received additional support in the second half of 2006 from weaker oil prices. Continued reforms are necessary to boost investment and accelerate progress in reducing poverty. Executive Directors observed that stock of repossessed real estate assets remains large and that solving this problem will be key to allowing the banking sector to contribute to investment recovery.
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