Philippines: Staff Report for the 2004 Article IV Consultation and Post-Program Monitoring Discussions

March 21, 2005

Preview Citation

Format: Chicago

Philippines: Staff Report for the 2004 Article IV Consultation and Post-Program Monitoring Discussions, (USA: International Monetary Fund, 2005) accessed November 22, 2024

Summary

This paper examines the Philippines’s 2004 Article IV Consultation and Post-Program Monitoring Discussions. GDP growth has exceeded expectations, but unemployment remains high. With exports staging a recovery and consumption boosted by overseas remittances and the election, GDP grew by 6.1 percent in 2004, up from 4.7 percent in 2003. The near-term outlook for the Philippines economy is clouded by the uncertain external environment. The rapid growth in 2004 is unlikely to be sustained, particularly given slowing global demand in the information technology sector and rising interest rates.

Subject: Economic sectors, External debt, Inflation, Prices, Public debt, Public sector, Revenue administration, Tariffs, Taxes

Keywords: Authorities' definition, Bangko Sentral ng Pilipinas, CR, Global, Government, Inflation, ISCR, NG deficit, Public sector, Reform effort, Target, Tariffs, VAT bill

Publication Details

Pages:

81
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2005/105
Stock No:

1PHLEA2005002
ISBN:

9781451831344
ISSN:

1934-7685

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