Philippines: Staff Report for the 2005 Article IV Consultation and Post-Program Monitoring Discussions

March 6, 2006

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Format: Chicago

Philippines: Staff Report for the 2005 Article IV Consultation and Post-Program Monitoring Discussions, (USA: International Monetary Fund, 2006) accessed November 22, 2024

Summary

The staff report for the 2005 Article IV Consultation on the Philippines highlights managing short-term vulnerabilities and higher investment and growth. Power generation tariffs have been raised to substantially cut the losses of the National Power Corporation (NPC). A risk to the near-term outlook for the Philippine economy is that political events, such as possible constitutional change, serve to sideline economic reforms. Executive Directors agreed that rebalancing the composition of public expenditure, with reduced current outlays providing space for capital and social spending, should form an integral part of the fiscal consolidation.

Subject: Economic sectors, External debt, Privatization, Public debt, Public sector, Taxes, Value-added tax

Keywords: Authorities definition, CR, Deficit, GDP, Global, Government, ISCR, Nonfinancial public sector revenue net, Privatization, Privatization receipt, Public sector, Reform, Reform package, US$ billion, Value-added tax, VAT reform package

Publication Details

Pages:

67
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2006/092
Stock No:

1PHLEA2006001
ISBN:

9781451831368
ISSN:

1934-7685

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