7/28/2019 Phil Economic Update
1/60
PHILIPPINE ECONOMIC UPDAT
Accelerang Reormto Sustain Growth
December 201
75021
7/28/2019 Phil Economic Update
2/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
B
7/28/2019 Phil Economic Update
3/60
PHILIPPINE ECONOMIC UPDATE
Accelerang Reormsto Sustain Growth
December 2012
World Bank Oce Manila
www.worldbank.org/ph
P R E M U
7/28/2019 Phil Economic Update
4/60
7/28/2019 Phil Economic Update
5/60
Accelerang Reorms to Sustain Growth
P
The Philippine Economic Update provides a bi-annual update on key economic and social
, . I W B
P - ,
P. I
. T , ,
, ,
P.
The Philippine Economic Update December 2012 T K (T T
L), M J (C-T T L), K K T C (S E),
P M (R A), R B (L E).T W B K K,
L C, L D C P, M H, N C, K K,
V D S C. T :
T K BPO P, A T M P C, H
R R B O G/O D. T
B P A P
BPO .
S N S A A
. I , D L J L
C T M , , , .
T , , W B
E B W B
.
F W B P,
../h.
T Philippine Economic Update and related
, N S (@.). F , M J
(@.). Q D L
(@.).
7/28/2019 Phil Economic Update
6/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
Tb CPREfACE ..........................................................................................................................................
ExECUTIvE SUMMARy ...................................................................................................................
RECENT ECONOMIC AND POLICy DEvELOPMENTS ....................................................................... 1
Output, Demand and Employment ..................................................................................................... 1
External Accounts.............................................................................................................................. 4
Financial Markets............................................................................................................................... 8
Fiscal Policy ........................................................................................................................................ 10
Inflation and Monetary Policy .......................................................................................................... 11
PROSPECTS AND POLICy RECOMMENDATIONS ............................................................................ 13
Output, Demand, and Employment .................................................................................................... 13
External Accounts.............................................................................................................................. 14
Fiscal Policy ........................................................................................................................................ 16
Inflation and Monetary Policy .......................................................................................................... 19The Medium Term Reform Agenda..................................................................................................... 20
SPECIAL fOCUS .............................................................................................................................. 23
I. Sustaining Growth in the Philippine BPO Sector: Opportunities and Challenges ...................... 23
II. The Mindanao Power Crisis: Can Natural Gas Make a Difference? ............................................ 31
III. Open Government/Open Data ....................................................................................................... 34
DATA APPENDIx .............................................................................................................................. 42
SELECTED SPECIAL fOCUS SECTIONS fROM PREvIOUS ECONOMIC UPDATES............................. 44
SELECTED RECENT WORLD BANk PUBLICATIONS ON THE PHILIPPINES ....................................... 48
f
figure 1. The Philippine economy was one the fastest growing economies in East Asia ................ 8figure 2. Weakness in investment in durable equipment was offset by strong
growth in construction ..................................................................................................... 8figure 3. Growth was sustained by strong private consumption, public spending and
investment ..................................................................................................... 8figure 4. Growth in the services sector remained resilient while manufacturing and
agriculture also picked up ..................................................................................................... 8
figure 5. Net new job creation in July fell to its lowest level since 2007 ....................................... 9figure 6. Sectors characterized by high informality have shed jobs............................................... 9figure 7. Share of formal jobs in total employment increased ....................................................... 10figure 8. Unemployment remains high............................................................................................... 10figure 9. External balances remain healthy...................................................................................... 11figure 10. The G-3 is a key destination for Philippines exports ........................................................ 11figure 11. Diversification towards non-electronics helped offset weakness in
electronics ................................................................................................... 12figure 12. Japan has become an increasingly important destination for exports .......................... 12
fIGURE 1. THE PHILIPPINE ECONOMY WAS ONE OF THE FASTEST GROWING ECONOMIES IN EAST ASIA 2
fIGURE 2. WEAKNESS IN INVESTMENT IN DURABLE EQUIPMENT WAS OFFSET BY STRONG GROWTH
IN CONSTRUCTION 2
fIGURE 3. GROWTH WAS SUSTAINED BY STRONG PRIVATE CONSUMPTION, PUBLIC SPENDING
AND INVESTMENT 2
fIGURE 4. GROWTH IN THE SERVICES SECTOR REMAINED RESILIENT WHILE MANUFACTURING
AND AGRICULTURE ALSO PICKED UP 2
fIGURE 5. NET NEW JOB CREATION IN JULY FELL TO ITS LOWEST LEVEL SINCE 2007 3
fIGURE 6. SECTORS CHARACTERIZED BY HIGH INFORMALITY HAVE SHED JOBS 3
fIGURE 7. SHARE OF FORMAL JOBS IN TOTAL EMPLOYMENT INCREASED 4
fIGURE 8. UNEMPLOYMENT REMAINS HIGH 4
fIGURE 9. EXTERNAL BALANCES REMAIN HEALTHY 5
fIGURE 10. THE G-3 IS A KEY DESTINATION FOR PHILIPPINES EXPORTS 5
fIGURE 11. DIVERSIFICATION TOWARDS NON-ELECTRONICS HELPED OFFSET WEAKNESS IN ELECTRONICS 6
7/28/2019 Phil Economic Update
7/60
Accelerang Reorms to Sustain Growth
fIGURE 12. JAPAN HAS BECOME AN INCREASINGLY IMPORTANT DESTINATION FOR EXPORTS 6
fIGURE 13. SLOWER IMPORT GROWTH RELATIVE TO EXPORTS HAS HELPED RESTRAIN THE TRADE DEFICIT 7
fIGURE 14. GROWTH IN REMITTANCES REMAINS STABLE, ALBEIT SLOWING 7
fIGURE 15. REMITTANCESS FROM EUROPE HAVE REBOUNDED DESPITE THE ONGOING DEBT CRISIS 7
fIGURE 16. CONTINUED INFLOWS LIKELY REFLECT THE DIVERSE JOBS HELD BY OFWS 7
fIGURE 17. AS GLOBAL FINANCIAL MARKET TENSIONS HAVE EASED, CAPITAL INFLOWS HAVE REBOUNDED 9
fIGURE 18. GIR CLIMBED TO NEW RECORDS SUPPORTED BY REMITTANCES AND NET PORTFOLIO INFLOWS 9
fIGURE 19. TREASURY YIELDS HAVE DECLINED SUBSTANTIALLY ACROSS THE TERM STRUCTURE 9
fIGURE 20. OVERSEAS INVESTORS HAVE HELPED PUSH THE PSEI TO NEW HIGHS 9
fIGURE 21. INFLATION REMAINS BENIGN AND IS AT THE LOWER END OF THE CENTRAL BANKS TARGET 11
fIGURE 22. SLOW ADJUSTMENTS IN FOOD, UTILITIES, FUEL AND TRANSPORT PRICES 11
fIGURE 23. A POSITIVE CONSUMER OUTLOOK SUGGESTS PRIVATE DEMAND SHOULD HOLD FIRM 14
fIGURE 24. BUSINESS SENTIMENT ALSO REMAINS POSITIVE WITH THE EXCEPTION OF EXPORTERS 14
fIGURE 25.PHILIPPINES: PUBLIC SECTOR DETERMINISTIC DEBT SUSTAINABILITY ANALYSIS
17
Tb
TABLE 1. SELECTED KEY POLICY RECOMMENDATIONS 21
TABLE 2. PHILIPPINES: SELECTED ECONOMIC INDICATORS, 2009-14 42
TABLE 3. PHILIPPINES NATIONAL GOVERNMENT CASH ACCOUNTS (GFS BASIS), 2008-12 43
B
BOx 1. ASSESSING FISCAL SUSTAINABILITY FOR THE PHILIPPINE ECONOMY 17
7/28/2019 Phil Economic Update
8/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
E S
T P w E A,
w w 7.1 q. H
,
. T
2012 ,
, A
. S , ,
,
, ,
. O, 6
, 3.9 .
N, w b b w
. A ,
. G C,
, ,
, -
. I , J .
M,
E U S
- . R ,
.
S w 6 ,
. S ,
, -, . T
0.4 GDP
. A ,
, --GDP
24 , .
Hw, b jb,
b b w. The economy
, . S,
- - - , . T
, ,
, ,
. U ,
, . I P
,
.
7/28/2019 Phil Economic Update
9/60
1
Accelerang Reorms to Sustain Growth
T , w
q, . H,
. T , ,
,
. T S F
. F ,
-
. I M,
. F, -
/ ,
, .
7/28/2019 Phil Economic Update
10/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
2
7/28/2019 Phil Economic Update
11/60
3
Accelerang Reorms to Sustain Growth
R E P D
O, D E
1. I j , GDP w
P q, w E A
(F 1). I 2012 (3Q2012), 7.1
(--) 6.0 2Q.1 G
, 3.9
. T 1Q2012
,
, ,
A . A
6.5 6
, 5-6 .
2. H w 3Q w b
. C 24.8 ,
, 1.9 () GDP
. P 25
(BPO)
. G (.., )
(.., ) . A
45 2.4
(F 2), 8.7 11.8 2Q.
3. G w b 12 . T 6.8 2Q,
1.2 -
, .2 A , ,
,
. I 6.2 -- 3Q 4.3 (F 3).
1 G 5.9 . G
1.4 7.1 . T
.2 W , , (
) ,
GDP ( 0.01 ) (PHP40 )
(PHP10 ).1
7/28/2019 Phil Economic Update
12/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
4
f 1. T P w w E A
q.
f 2. W bq w b w
.
S: H A
S: N S C B (NSCB)
f 3. Gw w b , b
.
f 4. Gw , , w .
S: NSCB S: NSCB
4. A b w w
. E
- . D -
, , 6.9 3Q
- ( J) .
H, 8.6 , , ,
-0.7 .
2
R GDP Gw R
D S: Cb GDP Gw S S: Cb GDP Gw
f C fCb GDP Gw
7/28/2019 Phil Economic Update
13/60
5
Accelerang Reorms to Sustain Growth
5. O , w, w
. T 7.0
(--), 4.1 GDP 3Q (F 4),
, , (
BPO ). D , 0.6 2Q2012 4.1 ,
(palay, , ),
. T ,
,
W P S. O 8.1
. M, -
, 5.7 3Q.
f 5. N w jb J w 2007.
f 6. S z b jb
S: N S O (NSO)
S: NSON: *O
. I - .
6. S w jb,3
. S . A , 0.5 J 2011
2012 (F 5). W ,
0.5 J 2007. W
, ,
, 0.6 (F 6). C,
( ) 59.1 , 3
3 T - .3
f 5. N w jb J w 2007.
f 6. S z b jb
N Jb C N Jb C S S(J 2011-2012)
7/28/2019 Phil Economic Update
14/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
6
(F 7) , , . O
, , . T
7 (F 8) 22.7
-4 jobs declined by 500,000 in the same period.
f 7. w jb .
f 8. U .
S: NSO
N: I .
S: NSO
E A7. T , b b
b . T
2Q 2.8 GDP - (F 9). H,
(.. BOP 2011 4.5
GDP). I
2Q
E Z . T 3
GDP,
8 GDP.
8. M Sb w b -
. M 22.8 (--) S,
D 2010 E A . O
, 8 5 (-)
. T G-3 P
I, M T (F 10),
4 T 40 .4
5.5
6.0
6.5
7.0
7.5
8.0
Jul 07 Jul 08 Jul 09 Jul 10 Jul 11 Jul 12
15
17
19
21
23
25
Pe
rcent
Pe
rcent
Unemployment and
Underemployment Rates
Underemployment Rate (rhs)
Unemployment Rate
S T E U U R
f 7. w jb .
f 8. U .
P
ercent
7/28/2019 Phil Economic Update
15/60
7
Accelerang Reorms to Sustain Growth
(F 11). W
N A -- 5 M,
. H, -
J
. N- , 55 ,6 35.5 S, J. J
(F 12)
, , , , ,
2011.
9. W w 3Q(F
13). I USD , 3.6 -- S 0.5
. C ,
USD 5.9 S ( USD 8.2
). W
. I , ,
13.7 -- S,
10 . G ,
6.1 S,
Philippines.
f 9. E b b .
f 10. T G-3 P .
S: Bangko Sentral ng Pilipinas (BSP)N: F-
Source: Internaonal Monetary Fund (IMF) Direcon of Trade Stascs
N: D 2012
5 T B--B S E M I (SEMI)
() () N A
.6 T - 48 2011,
37 2010.5
B P ASEAN E G-3 C
f 9. E b b .
f 10. T G-3 P .
7/28/2019 Phil Economic Update
16/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
8
f 11. W w b w
-
f 12. J, .
S: NSO
S: IMF R E O (2011)
10. R w b, w
. I , 3Q USD5.4 ,
6.3 (--) (F 14). G A (--)
F
. R E, 16 ,
, 8 ,
(F 15). T -
. D F 4.2 -- .
11. Sb w b f ,
w (F 16). T P
, 10 F (25
) .7 A
, M E 44 15
, .8 S
,
P,
. O , , F .
7 S B 2 W B (2011), P Q U (J),
.8 T U S , 43 --
S. T U S
.6
M E Gw P G E b T
D
7/28/2019 Phil Economic Update
17/60
9
Accelerang Reorms to Sustain Growth
H, D D
. P W B 9
- , D D
-
, .10
I ,P ,
, .
f 13. Sw w .
f 14. Gw b,b w.
S: BSPS: BSPN: *3 MMA 3-
f 15. R E b b .
f 16. C w jb b f.
S: BSP
S: P O E A (POEA)
9 W B (2012), T I M R P L M, .10 T .
7
100%
80%
60%
40%
20%
0%
T B Gw M I E
Cb R Gw O Jb
R Gw, 3 MMA*
7/28/2019 Phil Economic Update
18/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
10
12. B 2012, (fPI)
(fDI) w w
b (F 17). N FPI J O
USD1.8 , 1H2012, S & P (S&P)
M , E C B F
2H2012. T FPI .
F USD1.1 S ( USD782
) , ,
, . C E A , P FDI
( B 2 M 2012 P Q
U ).
13. T
(GIR) , .P GIR O - USD82.1 (F 18), 31
USD62.5 J,11 and
6.6 -
. GIR
BSP
. H P
. T PHP40.8/USD
N, 2008, 6.9
year. The Bangko Sentral ng Pilipinas (BSP)
- .
f M
14. P b q b ,
, P .
E USD359
P N, USD29.6
2011 (F 18). B ,
121 () 300 . T,
,
T N. S- 91- T-
0.15 0.3 -O (F 19). M,
. N ,
11 Latest available data8
7/28/2019 Phil Economic Update
19/60
11
Accelerang Reorms to Sustain Growth
PHP85.2 J (1.5 ),
P S E (PSE) 5,534 -
N (F 20).
f 17. A b , w b.
f 18. GIR b w b w.
S: H A S: BSP
f 19. T b .
f 20. O PSE w .
S: P D & E C. (PDEX) S: P S E (PSE)
9
PHP85.2 J (1.5 ),
P S E (PSE) 5,534 -
N (F 20).
y C (T R R) P S M P
G I REq B f Iw( 12 )
7/28/2019 Phil Economic Update
20/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
12
f P
15. I w , b
. F 2011,12
. F O 15 . N ,
27 PHP224 , -
. M (MOOE) 39 --
PHP191 , (CCT)
Pantawid Pamilyang Pilipino P D S W
D, D P W
H (DPWH), ,
health.
16. W w bw b w,
b . D , 75
PHP1.8 .13 I ,
:
O PHP1.25 (GFS14 ), (11.7
GDP) 12 . A , O
, 1.2 GDP,
2.7 GDP .
17. O , P b b ,
w b, w, w. T
PHP34 (0.3-0.4 GDP) .15 T PHP26
2017 70-30 - 2013-14. T
PHP250 ,
. T
,
, -
.
12 G 2011
. R B 3 J 2012 P
Q U DPWH .13 N 2012 PHP1.8
- ( 25 PHP1.7 )
.14 G F S15 T 50 PHP60 .
10
7/28/2019 Phil Economic Update
21/60
13
Accelerang Reorms to Sustain Growth
I M P
18. H 3.1 Ob 3.8
3Q (F 21). S , ,
O (F 22). F 0.3 S A .
L
. E ,
M ( S F II). H,
- -- 3.7 (--). H
, , 3.2 J, -
3-5 .
f 21. I b w b
f 22. w j ,, .
S: BSP
N: *MM --
19. W b , BSP b
b w. T BSP,
M B, J O 25 ,
J M. O
5.5 3.5 , , 100
. T .I 16 (SDA) . T BSP
SDA J, SDA
O.
16 A SDA 4 .
S: BSPN: *YY --
11
Housing,UtlitesandFuel
Cb yy* I C MM* I
7/28/2019 Phil Economic Update
22/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
14
20. W w, b w
. B 15 J
-
. H, - 15
J, 13 . A , BSP
20 . B
- - 4 4.8 ,
, .
21. O,
- bw b j
. F F R -
, S&P - BB+
J . T
, . M -O,
B1 ,
, , .
12
7/28/2019 Phil Economic Update
23/60
15
Accelerang Reorms to Sustain Growth
P
O, D, E
22. P w 2012 b b w. T
A (.., ,
, , ). T
,
(BPO) , ,
.
23. G 3Q, P GDP w b
6 2012 w . B P 6.0 2012 6.2 2013. C,
75 GDP,
17 2013. M,
BPO 100,000 .18 The sector,
I - ,
( S F I).
24. S b w b 6
w . R- -
2013. M,
(F 23) (F 24). I
, A -
, ,
--GDP 22 24 GDP 2015.
25. R w j w b
. T E A J ,
U S
. G
BRIC 19 ,
G3. A C
17 H GDP 1 - .18 S: B P A P (BPAP)19 B, R, I C
13
7/28/2019 Phil Economic Update
24/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
16
,
-
. F P,
, . H,
. A ,
, 2009 G
F C .
f 23. A .
f 24. B w .
S: BSP S: BSP
E A
26. T b
b . T
,
3.2 GDP 2012 ( 3.1 2011). G
5 7.2
E.20
H, 2009 ,
. M
J
. W 21
6
20 I , - N -
E.21 S: S E I P, I. (SEIPI)
I O (C Q)C E (N Q) P D C
14
Percent
7/28/2019 Phil Economic Update
25/60
17
Accelerang Reorms to Sustain Growth
. W
, ,
, , 7
.
27. A bz b fDI.
T P -
. F , P
.22 I
C, J, T
, , P - F
I N L (FINL) (..
60 ),
.23 O ,
M
. F , , , (S
S F II).
28. L w bw
P,
w. F
. E A P
,
. S
11 2014.
29. E b j w b , 30
GDP b 2014. T
,
75
.24 P
.
22 S: W B I A B 2010 23 F , (.. ,
, ). U 25 . U 30
. U 40 , , ,
. A 60 .24 C 60 .
15
7/28/2019 Phil Economic Update
26/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
18
f P
30. T 2012 , b
w . T 2.4 GDP 2.1 (GFS ),
,
. R
. D
, ( 0.2 GDP)
-
( 0.3 0.4 GDP)
14 GDP 2014. L ,
, , ,
.
31. Pb b b ,
b b D f. A --GDP
, ,
,
. T
, ,
. T
, B S F (BSF)25 has reduced liquidity
. T - --GDP
. S D S A (DSA), --GDP 45
2016 (F 25),
(B 1).
25 L 1950 T (BSF)
. T 3
. C BSF ;
, . T BSF
PHP773 2011, 7.9 GDP.16
7/28/2019 Phil Economic Update
27/60
19
Accelerang Reorms to Sustain Growth
f 25. P: b b b (DSA)1/: b-GDP j
B 1. A f Sb P E
T P
, . T -
--GDP 71 2006 55.7 2011,
16 27.6 . R
, P - F S&P , M ( O).
N, . A
,
M A. I , -
(GOCC) , 13.8 GDP 2011
. I ,
- (PPP) .
C , - (53 )
/ ,
B S F,
.
S B F 1.1
DSA . S
DSA
, GDP ,
80
70
60
50
40
302004 2006 2008 2010 2012 2014 2016
Gshock
B
45.4
53.2
Gw ( )
80
70
60
50
40
302004 2006 2008 2010 2012 2014 2016
30%
B
45.4
54.1
R 2/
80
70
60
50
40
302004 2006 2008 2010 2012 2014 2016
i-rateshock
B
45.4
50.1
I ( ) 3/
17
Source: World Bank sta calculaons
Notes: 1/ The shaded areas represent actual data. 2/ One-me real depreciaon of 30 percent, with real depreciaon dened as nominal depreciaon
(measured by percentage fall in US dollar value of local currency) minus domesc inaon (based on GDP deator). 3/ Represents a 1 standard deviaon
shock to interest rates.
Gw ( ) I ( )3/R 2/
7/28/2019 Phil Economic Update
28/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
20
-
.26 U , 75
GDP 40 2016 .
H
( ), --GDP --GDP 40
25 percent.
B f 1.1. P: b b (DSA)1/: b --
2011 2012 2013 2014 2015 2016
0%
20%
40%
60%
80%
Time
Debt-to-GDP
Probability
0
0.05
0.25
0.5
0.75
0.95
1
2011 2012 2013 2014 2015 2016
0%
20%
40%
60%
80%
Time
Debt-to-GDP
Probability
0
0.05
0.25
0.5
0.75
0.95
1
S: W B N: T .
T ,
, , ..
P, .
I
. A
,
. T
. I
(61 ) . A,
, ( ) .
26 T M C
. T
DSA PREMED W B,
A .18
7/28/2019 Phil Economic Update
29/60
21
Accelerang Reorms to Sustain Growth
I M P
32. H b w BSP
. I BSP 3-5
3.5 2012. U U S P
U S.27 D (0.67 )
CPI , - 60 70
( ),
. G ,
, 28 are
. I 2013, 4 ,
, M
E. T ,
.
33. M w w w. The
BSP SDA , ,
. A BSP
(
IMF) ,
. I ,
,
. H,
.
34. G w, b b BSP . T
/ P
- . O,
, ,
.29 M,
commercial real estate loans especially in stricter collateral requirements and loan covenants
.
27 S: U S D A28 P
2014.29 T BSP 3Q2012 S B L O S.
19
7/28/2019 Phil Economic Update
30/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
22
T M T R A
35. S , , w.30
T , .
S, - . T -
, ,
,
, . T
,
, .
36. T w b
w (T 1). A ,
, . I
, . I , ,
: , , . F
,
, .
37. S , , w
b , , . T
- P
, . I
,
. T , , , , . O ,
, ,
. I ,
,
.
30 R P D R (2012) C M B J,
.20
7/28/2019 Phil Economic Update
31/60
23
Accelerang Reorms to Sustain Growth
Tb 1. S
A
Improve the current land
-
R
subsidies to support services
I
- I
- ,
-
and community-driven approach
- R
(.., )
- I - - ,
(R&D),
- I
- E R&D
M
L
economy
S
S
R
- P , - - : ,
- S , ,
,
assessments in order to ensure the independence, competence, and
- E
- E
- C ( -)
- S-
A 1987 C
, , ,
, ,
C
21
7/28/2019 Phil Economic Update
32/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
24
38. H, , w
q, .
H,
. T
, , ,
. T
.
39. T S f w w
jb w. For instance, the earlier
-
. I M,
. F, -
/ ,
, .
22
7/28/2019 Phil Economic Update
33/60
25
Accelerang Reorms to Sustain Growth
S f
S Gw P BPO S:I.
O CThe Philippine Business Process Outsourcing industry has enjoyed tremendous success over the
past decade, emerging as a global leader in voice-services and the second largest provider of
non-voice, more complex services. With revenues of over USD11 billion, and credited with nearly
2 million jobs (directly and indirectly), the sector has become a major driver of the economy.
However, there are both opportunies and challenges ahead. The global oshoring industry is
expected to roughly double in size to about USD260 billion by 2016 with the expansion in
knowledge and analycal services. This Special Focus takes a closer look at the factors that have
underpinned past success, and what it will take for the Philippines to sustain its lead in voice
services and capture a greater share of the knowledge and analycal services going forward. 31
I
T P B P O (BPO) w 1.
, z b
1990. T 1993
,
. I
BPO . T
640,000, 400,000 - ( ).
T P , I 2010
BPO. S -,
(IT) ,
- USD6.1 2008
USD11 ( 5 GDP) 2011.32
T b j jb .2. A
,
, , . T BPO
(.., ) , , ,
11 GDP 2011 -
- GDP.33 I
31 T S F T K, E W B ,
, B P A P.32 BPAP (2012)33 F , M 2012 P Q U.
23
7/28/2019 Phil Economic Update
34/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
26
BPO , 1.6
, , (F 1.1).
f 1.1. T P BPO j , b
jb.
f 1.2. C w w
E w.
S: BPAP (2012), W B S: BPAP (2012), W B
BPO w -3.
, M M P. I
- , P
- ,
. F , 2006, - BPO 15 , 20
2010. I , M M. A
2011, 115,000 - BPO ( 640,000)
M M - N W (BPAP, 2012). T
, , M M.
Gw P BPO b -4.
b . T B P A
P (BPAP) 2016, USD25
1.3 3.2 .34 This
, , . T
, ,
.
34 BPAP (2012)
24
D , USD1000 - -b
7/28/2019 Phil Economic Update
35/60
27
Accelerang Reorms to Sustain Growth
k f U S S f
T b b , b5.
w b . T BPAP P -
- , (, , ) USD15-16,000 -
USD14-15,000 I, USD16-17,000 C, USD20-25,000 E USD21-
23,000 M (F 1.2). F I C,
A 2011 P (F 1.3), ,
P C (G, 2012).
f 1.3. L 135 w b 2011
S: G (2012)
A E- w - 6. b w A. T P
E , 500,000
, U
S, BPO. T
P
- . T 1.1 P
, P
, .
M R L A E I P C R A
Nb - I
service provider delivery publicly announced
6 3 3
1824
19 2132 32 35
3949
1525
7 716 14
1913 14
2009 2010 2011
25
7/28/2019 Phil Economic Update
36/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
28
Tb 1.1. Gb w P .
ountries L anguageGovernment
support
Labor pool InfrastructureEducational
system
Cost
Political and
economic
environment
Cultural
compatability
Global and
legal maturity
Data and IP
security and
rivac
Total score
India Very good Excellent Excellent Good Very good Very good Very good Very good Good Good 39
Mexico Good Very good Very good Good Good Very good Good Very good Good Very good 35
Chile Good Very good Good Very good Good Good Very good Good Good Fair 32
h Republic Good Good Good Good Very good Good Good Good Good Very good 32
alaysia Very good Very good Good Very good Good Good Good Good Good Fair 32
Poland Good Good Good Good Good Good Very good Very good Good Fair 31
China Fair Very good Good Very good Good Very good Very good Good Fair Poor 30
auritius Good Good Fair Good Good Very good Good Very good Good Fair 30
ilippines Very good Good Good Good Good Very good Fair Very good Fair Fair 30
Brazil Fair Good Good Good Fair Fair Excellent Very good Good Fair 29
Gartner rating (2010-11)
S: G G, G (2012)
Tb 1.2. G BPO P.
P I M C E
C Investment-related
I
C 3.09
percent customs duty
on imported capital
C
up to 100
percent,
Varies
V- (VAT),
Import duty
-
equipment
O Talentdevelopment
T
T E
S D
A (TESDA)
T
20-40
percent
T
to 8 percent
T
subsidy
O
cost-linked
E
, VAT-
S,
; 50
on stamp duty
S
telecom,
rentals and
Telecom
and rental
discounts
T T- 6-
8
( 4
6
years)
5-
holiday in special
(SEZ)
only, plus 50 percent
2 5-
blocks subject to
reinvestment
P- ,
payment at 5
income
100 percent
5
A
B
Corporate
tax rate
cuts
S: BPAP (2012)
Count ries LanguageGovernment
supportLabor pool Infrastructure
Educational
systemCost
Political and
economic
environment
Cultural
compatability
Global and
legal maturity
Data and IP
security and
rivac
Total score
India Very good Excellent Excellent Good Very good Very good Very good Very good Good Good 39
Mexico Good Very good Very good Good Good Very good Good Very good Good Very good 35
Chile Good Very good Good Very good Good Good Very good Good Good Fair 32
Czech Republic Good Good Good Good Very good Good Good Good Good Very good 32
Malaysia Very good Very good Good Very good Good Good Good Good Good Fair 32
Poland Good Good Good Good Good Good Very good Very good Good Fair 31
China Fair Very good Good Very good Good Very good Very good Good Fair Poor 30
Mauritius Good Good Fair Good Good Very good Good Very good Good Fair 30
Philippines Very good Good Good Good Good Very good Fair Very good Fair Fair 30
Brazil Fair Good Good Good Fair Fair Excellent Very good Good Fair 29
Gartner rating (2010-11)
S: G G, G (2012)
26
Gartner rang (2010-11)Polical and
economic
environment
Data and IP
security and
privacyTotal scoreCostInfrastructureLabor poolLanguageCountries
Global and
legal maturity
Cultural
compatability
Educaonal
system
Government
support
7/28/2019 Phil Economic Update
37/60
29
Accelerang Reorms to Sustain Growth
C O
T b b7.
w . A
, ,
, .
T , cloud compung,35 have also propelled the
,
. T (G 2012, L
2012, M . 2008).
kw BPO8.
. T , IT-BPO - (GIC)
, USD125
USD255-260 2016. H, , - ( , , , ),
IT 80
2016 (F 1.4). T O R N
(ORN)36 ,
, , (R&D),
, - ,
(F 1.5).
f b 9.
b , , q
(.. - - , - ). R
( U S E E )
,
. I , ,
, () (G 2012).
35 C ( )
( I). T -
. C ,
.36 ORN 2004 D U U S 2,000 , -
U S E ( ), 700
. T ,
- - .27
7/28/2019 Phil Economic Update
38/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
30
Sz w - b BPO w10.
P BPO w. That the Philippines
I 2010 -
. T ORN , ( )
-
- (F 1.6).
f 1.4. Gb w ,
- .
f 1.5. I w U S E
.
S: BPAP (2012), N, W B
N: *ESO . KPO
.
S: O R N S (2011) L(2012)
Hw, - w11.
q z
. D 500,000 P ,
. A BPAP, 93- 95 .
R G C A T (GCAT), -
300
250
200
150
100
50
0
BPO-non-voice
BPO-voice
IT/ESO*
Horizontal(Finance
and
accounng,
HR, KPO*,
Procurement), 28
Other
industry
specic,
43
2010
esmate
2016
projecon
28
300
250
200
150
100
50
0
BPO-non-voice
BPO-voice
IT/ESO*
Horizontal
(Finance
and
accounng,
HR, KPO*,
Procurement), 28
Other
industry
specic,
43
2010
esmate
2016
projecon
USD P U S
E
7/28/2019 Phil Economic Update
39/60
31
Accelerang Reorms to Sustain Growth
BPO ,
.37
f 1.6. L b
.
Tb 1.3. k
P BPO .
Scalable educated
talent pool
5-8
A
A ,
Cost
compettveness
H
I 20-30
P
Infrastructure C
A
S N W
Government
support and
public private
partnership
I
N
G
, 2016
Track record N ,
L
R S: BPAP (2012), N, W B: ESO Source: BPAP (2012)
A , -2011 12.
PHP500 b b T E S
D A (TESDA). T BPAP -
- . H,
- - -
, , IT (M , 2008). I ,
.
I w b w13.
, , N W
( T 1.3). A S 2012 BPAP O2P (BPAP,
37 I , : , E ,
, . O , 60
30 . O , 70 30 . 29
A Nb f-T E(B f)
7/28/2019 Phil Economic Update
40/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
32
2012) , 166 IT-BPO GIC
Philippines.38 I , P :
, L
. F, BPO 40
, .
R
BPAP (2012) P IT-BPO I P 2012.://../
BPAP (2012) I U. P BPAP G M M A
2012. ://..//
BPAP (2012) B E R M. P BPAP G
M M S 2012. ://..//
G, T. (2012) T G S: F M IT T. C S
C. ://..//AIM//INFOTEC2012/HANDOUTS/
KEY_2413309/SSPFINALTSG.
L, A (2012) G S B S: K F T ORN
R. D U, F S B L P I I
O R N (ORN) P.://...//
////___2012
M,S, M, S., . L, A., (2008) A D P N-G
O: T G S S E T, A M
P, A 2008, V: 22, I: 3
38 S 40 2-3
A,
, T O 2009.30
7/28/2019 Phil Economic Update
41/60
33
Accelerang Reorms to Sustain Growth
The Mindanao Power Crisis: Can Natural Gas Make a Dierence?II.
Historically, Mindanao has relied on hydropower to sasfy its power consumpon needs. But
with few aracve hydro plants le to be built, and modest potenal in smaller renewable
energy power plants, other opons, notably coal red power plants, are being considered. ThisSpecial Focus examines whether liqueed natural gas (LNG)-based plants are a viable and cost-
ecient alternave, and why an LNG terminal and associated power plants are not being acvely
developed.39
T M, 25 , 1.
w. T ,
,
, . P
, -
. H, M .
M w b w.2. The
- Agus and Pulangi
700 () (
900). A , M
PHP2.9 (). B
,
. C
. M , , 300
, , M -200 . W
,
, , M
.
O , q A.3.
W , 20 ;
, 25 . A ,
40 M ( ,
- , PHP12 ). A
- 400
; ( )
- .
39 T S F A T, S E S W B
M G P S N 2012, M
E S. B W B P
.31
7/28/2019 Phil Economic Update
42/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
34
A - w , w w j 4.
b b . C . A 300
M USD660 . A -
. S
M? T , LNG. T
, .
R w b W B q b LNG-5.
w M . A M ,
, , ,
. I (, )
E A LNG . I ,
, Agus and Pulangiplants. In
,
. T , F 2.1, -
.
E, b , - w 6.
b. W ,
. I , 450
LNG- . T
LNG . T
- . B
. H
, . T , .
T
. T
- , .
A 2020, , ( -
, ) .
B bb , 7.
w LNG- w M 450 w z w b z b 70
. I ,
M , ,
. E
(
, ).
32
7/28/2019 Phil Economic Update
43/60
35
Accelerang Reorms to Sustain Growth
f 2.1. M M G O Pj (Gw H [w])
S: W B
S LNG - , w LNG 8.
w b ? T G P,
D E (DOE), D F,
M D A,
. T
G
. T
E R C (ERC). I
-
M
.
T b - q w b b 9.
b- LNG . T DOE
P M - LNG
. T , C O,
, , ,
. I . T
M
short electricity market, to its cheapest and most abundant.
33
0
5000
10000
15000
20000
25000
30000
35000
2013 2014 2015 2016 2017 2018 2019 2020
Generation(GWh)
Oil
Hydro
Gas
Coal
Geothermal
7/28/2019 Phil Economic Update
44/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
36
In this new era of Open Development we are seeing a fundamental shi in how governments
communicate with their stakeholders in civil society, academia, media and cizens to form
coalions around improved transparency, accountability and access to services. The Philippines
has the opportunity to lead the conversaon on this new paradigm of development through
increased availability of development data that was only previously available to selectgovernment ocials. This Special Focus addresses some of the opportunies and challenges
that the Philippines must consider towards realizing this vision to achieve inclusive growth.40
T P O G P
I M 2011 Aq P D P1.
(PDP)41 2011-2016 b S
C w f P. The development plan represents a vision anchored
, P
40 T S F H R, G G S W B
R B, L E P. I N 2012
G P O G P,
S 20, 2011
, -,
.41 P D P 2011-2016 N E D A ://
....34
III. O G/O D: Hw O DP G C P IT Cz P P?
7/28/2019 Phil Economic Update
45/60
37
Accelerang Reorms to Sustain Growth
kung walang corrupt, walang mahirap42
,
resources.
O 20 Sb 2011 P 2. z z P
D P O
G P (OGP) B, I, M, N, S A,
U K, U S. T , P
( , ,
(CSO)
) ,
-, ,
.
I z , P b -3. w w CSO b OGP
A P43 J 2012. T A P I P P
G E D, I S B P
-
.
T (NGA)
(LGU),
, ,
.
T , O G 4.
P w
, w w z
. T P
O G D
.
42 T kung walang corrupt, walang mahirap I , .43 ://..//.
35
7/28/2019 Phil Economic Update
46/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
38
O G D
T O G D w O D 5.
z , ,
-, . T ,
- (NGO) . S O D
F I (FOI) A
, ?
f 3.1. T Pw O D: M P E C (2011) b
-- P.
S: W B S: W B
G w P 6.
,
. S , ,
, NGO
. H,
, . W
Sulu Sea Sulu Sea
Luzon StraitLuzon Strait
Number of Primary Schools
0 - 260
261 - 520
521 - 780
781 - 1040
1041 - 1300
Pupil -Teacher Rao
0 - 28
28.1 - 30
30.1 - 35
35.1 - 40
40.1 - 84
36
7/28/2019 Phil Economic Update
47/60
39
Accelerang Reorms to Sustain Growth
,
. H,
,
(F 3.1).
T b w 7.
b b z-
. T
. S
, , , ,
, , .
A S O P G D
T, O G D b8.
O A b O
S. T , U K U S
data.gov and data.gov.uk,
, K44 and Moldova45
(F 3.2).
T P OGP 9.
w w b O D . T D B
M, D S W D, D A
N A-P C (NAPC)
, ,
.
T , P b10.
2011 N B
,
44 R, H. et al. (2011). O D K A C S U D, P O
E O D I A: ://..//75642393/O-D-
K-L-V.45 R, H. et al. (2012). T J O G O D M. A ://.
.//99595560/T-J--O-G--O-D-M.
37
44 R, H. et al. (2011). O D K A C S U D, P O
E O D I A: ://..//75642393/O-D-
K-L-V.45 R, H. et al. (2012). T J O G O D M. A ://.
.//99595560/T-J--O-G--O-D-M.
7/28/2019 Phil Economic Update
48/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
40
. I , D B M Budget ng
Bayan (B N) ,
C P,
(F 3.3).
f 3.2. U S k O D b , w .
S: O G P U S (.) K (..)
f 3.3. B N: A z b, b w
z fb.
38
7/28/2019 Phil Economic Update
49/60
41
Accelerang Reorms to Sustain Growth
Hw, b bw 11.
. F , P N H T
S (NHTS)
. S
.
T P H O D Pb
O G D b 12.
-
: (1) , (2)
, (3) , (4)
bureaucracy.
T , w P w 13.
b O G D. H,
, , ,
. T
O
G D , ,
.
M w, P f I A 2012 14.
z w
b H. S 4 H B
G . I ,
,
. A
O G D
.
SECTION. 4. Access to Informaon. Every person who is a Filipino cizen has a right to and shall,
on request, be given access to any record under the control of a government agency. Government
agencies shall make available to the public for scruny, copying and reproducon in the manner
provided by this Act, all informaon pertaining to ocial acts, transacons or decisions, as well
as government research data used as a basis for policy development, subject to the excepons
enumerated under secon 6 of this Act, regardless of their physical form or format in which they
are contained and by whom they were made.
Freedom of Informaon Bill (2012) submied to the Commiee on Public Informaon of the
House of Representaves
39
SECTION. 4. Access to Informaon. Every person who is a Filipino cizen has a right to and shall,
on request, be given access to any record under the control of a government agency. Government
agencies shall make available to the public for scruny, copying and reproducon in the manner
provided by this Act, all informaon pertaining to ocial acts, transacons or decisions, as well
as government research data used as a basis for policy development, subject to the excepons
enumerated under secon 6 of this Act, regardless of their physical form or format in which they
are contained and by whom they were made.
Freedom of Informaon Bill (2012) submied to the Commiee on Public Informaon of the
House of Representaves
7/28/2019 Phil Economic Update
50/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
42
O G D f
T ICT P z w 15.
. A 99
P . T F ,
. T P E
A P
(SMS) (F 3.4). A 2008, 68
76 .46
G w ICT b , 16.
P w b
w b b z . ICT
-
, , . T -
,
-,
. B , ICT
.
f 3.4. Mb Sb ( 100 P) P 1990 2012
S: W B 2012
T w B P O (BPO) w P 17.
b w . I , P BPO
46 I T U (ITU) 2008
MobileSubscriptons(per100People)
Philippines W E A & P ( )
199
0
199
1
199
2
199
3
199
4
199
5
199
6
1997
1998
199
9
200
0
200
1
200
2
200
3
200
4
200
5
200
6
2007
200
8
200
9
201
0
201
1
201
2
100
80
60
40
20
0
Y
40
MobileSubscriptons(per100People)
Philippines W E A & P ( )
1990
1991
1992
1993
199
4
199
5
199
6
1997
199
8
199
9
200
0
200
1
200
2
200
3
200
4
200
5
200
6
2007
200
8
200
9
201
0
201
1
201
2
100
80
60
40
20
0
Y
7/28/2019 Phil Economic Update
51/60
43
Accelerang Reorms to Sustain Growth
. C
P,
IT
standards.
T b b b b 18.
w z w w b
. T ,
,
, -
O G D.
I, P , w 19.
w b w
. F,
, .
M,
, ,
ICT P.
C: Rz v O G O D
I w O D w w20.
w , , z
. The Philippines is best
O
G , ICT ,
, , .
41
7/28/2019 Phil Economic Update
52/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
44
D A
Tb 2. P: S E I, 2009-14
2009 2010 2011 2012 2013 2014
Prel. Act.
Growth and inflation
Gross domestic product (% change) 1.1 7.6 3.9 6.0 6.2 6.4
Inflation (period average) 3.2 3.8 4.8 3.5 4.0 4.0
Savings and investment
Gross national savings 22.1 24.8 24.9 25.2 25.5 26.3
Gross domestic investment 16.6 20.5 21.8 22.0 22.5 23.6
Public sectorNational government balance (GFS basis)
1/-3.9 -3.6 -2.1 -2.4 -2.3 -2.1
National government balance (Govt Definition) -3.7 -3.5 -2.0 -2.3 -2.1 -2.0
Total revenue (Govt Definition) 14.0 13.4 14.0 14.0 14.6 14.9
Tax revenue 12.2 12.1 12.3 12.8 13.4 13.7
Total spending (Govt Definition) 17.7 16.9 16.1 16.3 16.7 16.9
National government debt 54.8 52.4 50.9 49.0 48.0 46.7
Balance of payments
Merchandise exports (% change) -22.1 34.8 -6.8 7.0 6.0 6.0
Merchandise imports (% change) -24.0 31.5 2.6 4.0 6.7 7.2
Remittances (% change of US$ remittance) 5.6 8.2 7.2 5.0 4.0 4.0
Current account balance 5.6 4.2 3.1 3.2 2.9 2.7
Foreign direct investment (billions of dollars) 1.6 1.2 1.3 1.5 2.0 2.5
Portfolio Investment (bill ions of dollars) -0.6 4.0 5.5 3.5 4.0 4.2
International reserves
Gross official reserves2/
(billions of dollars) 44.2 62.4 75.3 83.2 83.4 83.6
Gross official reserves (months of imports) 8.7 9.6 11.1 11.8 11.2 10.6
External debt3/
37.3 36.3 34.8 33.0 31.8 30.8
Actual Projection
(in percent of GDP, unless otherwise indicated)
S: G P , W B
1/ T CB-BOL G F
S M (GFSM).
2/ I 3/ T W B . T : ) G D
H O/B A P, -
/ , ) L- -
BSP P , ) L-
.
42
7/28/2019 Phil Economic Update
53/60
45
Accelerang Reorms to Sustain Growth
Tb 3. P N G C A (GfS B), 2008-12
Jan-Oct Year Jan-Oct Budget WB proj.
Revenue and grant 15.2 14.0 13.4 11.5 14.0 11.7 14.2 14.0
Tax revenue 13.6 12.2 12.1 10.1 12.3 10.4 13.1 12.8
Net income and profits 6.2 5.2 5.4 4.8 5.9 4.8 5.9 6.1
Excise tax 0.8 0.7 0.7 0.6 0.7 0.5 0.6 0.9
Sales taxes and li censes 2.3 2.7 2.4 1.9 2.4 2.2 2.7 2.5
Others 0.8 0.6 0.7 0.6 0.7 0.6 0.6 0.8
Coll ection from Customs 3.4 3.1 2.9 2.2 2.7 2.2 3.3 2.5
Nontax revenue1/
1.6 1.7 1.3 1.4 1.6 1.3 1.1 1.2
Grant 0.0 0.00 0.0 0.0 0.0 0.0 0.0 0.0
Total expenditure2/
16.7 17.9 17.0 12.4 16.1 12.9 16.9 16.4
Current expenditures 13.6 14.3 13.8 10.4 13.3 10.5 13.4 13.2
Personnel services 4.9 5.2 5.2 4.0 5.1 4.0 5.4 5.2
MOOE 1.8 2.1 2.0 1.4 2.1 1.8 2.4 2.4
Allotment to LGUs 2.2 2.5 2.4 2.0 2.4 1.7 2.0 2.0
Subsidies 0.2 0.2 0.2 0.2 0.5 0.2 0.2 0.3
Tax expenditures 0.8 0.6 0.5 0.2 0.3 0.2 0.3 0.3
Interest payment 3.7 3.7 3.4 2.5 3.0 2.6 3.1 3.0
Capital outlays 2.9 3.4 3.1 1.8 2.6 2.1 3.3 2.7
Net lending 0.2 0.2 0.1 0.2 0.2 0.3 0.2 0.5
Balance (GFS definition) -1.5 -3.9 -3.6 -0.9 -2.1 -1.2 -2.7 -2.4
Balance (GOP definition) -0.9 -3.7 -3.5 -0.8 -2.0 -1.1 -2.6 -2.3
Primary Balance (GFS) 2.2 -0.3 -0.2 1.6 0.8 1.4 0.4 0.6
Memorandum items
Privatization receipts (PHP bill ions) 31.3 1.4 0.9 0.7 0.9 0.5 2.0 2.0
CB-BOL interest payments (% of GDP) 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1
Nominal GDP (PHP trillion)3/
7.7 8.0 9.0 9.7 9.7 10.7 11.0 10.7
(in percent of GDP, unless otherwise s tated)
2008 2009 2010 2011 2012
S: D F, B T, D B M
1/ T . T GFSM.
2/ D D B M. A (LGU)
LGU. T .
3/ N GDP W B .
43
7/28/2019 Phil Economic Update
54/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
46
Selected Special focus secons rom Previous Economic Updates
J 2012: f Sb P A
A B F S P.F , ,
. F
, -
. H, P,
, : F
. I ,
P
E A P , . I F
, , ,
. W ,
. T
M S , P .
I G MS 2010, P
54 .
B H C E. T P ,
. G ,
. T K-12
. T
. T , ,
. T
,
. T E S
C P -
. F,
,
.
M 2012: f Sb P A
F E C D P: C O. TheP - . I
. T , ,
. A 1,000
GDP . T
. T 10
. R
44
7/28/2019 Phil Economic Update
55/60
47
Accelerang Reorms to Sustain Growth
GDP . R
, -
- . M, P
. I ,
, ,
.
C C D M.T
A R M M (ARMM)
. T
W B-W F P (WB-WFP) V C D
C M: C R D. T
, , ,
. T
.
T P R E M: A C C? The real estate market plays a unique role in
. B-
. R
. I P,
. G ,
.
T P BPO
. B .
O, ,
, , .
S U D I A C A. W , 2011, P . I O 2011,
A PHP72 D A P (DAP). T DAP
- , ,
) , )
, ) . W
2011,
. A -
,
, .
Db 2011: S Gw U T
R E T T A P. T
1997. A , 1997 2009,
GDP 0.6 1.2 GDP. Q
, P S E A.
R ) , )
GDP , )
. A
45
7/28/2019 Phil Economic Update
56/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
48
1.3 GDP . T
.
P E: W D T S? D , P
GDP. E
(.., C
US) . T
, , . T
, P (..,
), . I
, P ASEAN . T,
, -PEZA ,
, ,
-
. I ,
, .
Sb 2011: S M f C E T
E S P G. D 1997-2011, E A-3 , C
ASEAN-5 P
U S E Z. S E A
P , U S E Z
. T E A
W.
T 2012 P N G B. T 2012 -
, . T
. T A 2012,
. T -
, , . S ()
() ,
. T ,
, . F
, ( )
5-7 GDP. T ,
.
J 2011: G M I Gw
Poverty and Inequality in the Philippines. T 2009
(FIES) ,
P. T FIES ,
2006 2009 , , . H,
2009
46
7/28/2019 Phil Economic Update
57/60
49
Accelerang Reorms to Sustain Growth
, . T, ,
, P . S,
,
. F 2006 2009,
, ,
. A , 10 17
poverty incidence.
T S S P. T
P. T
GDP . H,
. U
- :
;
;
invest and innovate.
47
7/28/2019 Phil Economic Update
58/60
PHILIPPINE ECONOMIC UPDATE - Db 2012
50
S W B b P( , : ://../BRHFJLLQD 0)
No. Document Name Date Document Type
1 Impacts of a n early s tage education i ntervention on s tudents' learni ng
achi evement: evidence from the Phil ippi nes (Englis h)
10/1/2012 Policy Research Working
Paper2 School quality, labor markets and human capital investments: long-term
impacts of an early stage education intervention in the Philippines (English)
10/1/2012 Policy Research Working
Paper
3 Climate change adaptation in coastal communities: a documentation of project
experience (Englis h)
9/28/2012 Working Paper
4 Heal th equi ty and financial protection datasheet: Phi lippi nes (Engli sh) 8/1/2012 Bri ef
5 Conditional cash transfers and school enrollment: impact of the conditional
cash transfer program in the Philippines (English)
7/1/2012 Brief
6 Philippine quarterly update: investing in inclusive growth amid global
uncertainty (English)
7/1/2012 Working Paper
7 Philippines - HIV/AIDS education in health professionals training in the
Philippines
6 /2 3/2 01 2 Other Hea lth Study
8 Design and i mplementation features of the national household targeting system
in the Philippines
6/1/2012 Brief
9 Violent conflicts and displacement in Central Mindanao: challenges to recovery
and development (Vol. 2 of 2): Key findings
4/20/2012 Working Paper
10 Distortions in the international migrant labor market:evidence from Filipino
migration a nd wage responses to destina tion country economic s hocks
4/1/2012 Policy Research Working
Paper
11 Who benefits from social assistance in the Philippines? Evidence from the
latest national household surveys
3/1/2012 Brief
12 Phil ippines quarterly update: from stabil ity to prosperity for al l 3/1/2012 Working Paper
13 Doing business in a more transparent world 2012 - economic profile:
Philippines - comparing regulation for domestic firms in 183 economies
1/1/2012 Working Paper
14 Phi li ppi nes quarterl y upda te: s us ta ini ng growth i n uncertai n ti mes 12/1/2011 Worki ng Paper
15 Making everyone count: Gender-sensi tive Monitoring and Eval uation i n a
Community-Driven Development Project - the cas e of the Phil ippi nes KALAHI-
CIDSS
11/1/2011 Working Paper
16 Quarterly economic update: solid macroeconomic fundamentals cushionexternal turmoil
9/1/2011 Working Paper
17 Ripe for a big bang? Assessing the political feasibil ity of legisl ative reforms in
the Philippines' local government code
9/1/2011 Policy Research Working
Paper
18 The Economic Returns of Sanitation Interventions in the Philippines 8/1/2011 UNDP-Water & Sanitation
Program
19 Philippines - Discussion notes: challenges and options for 2010 and beyond 6/9/2011 Other Financial
Accountability Study
20 Phil ippi nes - Publi c expenditure review: strengthening publi c fina nce for more
inclusive growth
6 /1 /2 011 Publ ic Expendi ture
Review
21 Phi li ppi nes - Reproduc ti ve hea lth a t a gl anc e 6 /1 /2 011 Bri ef
22 Philippines quarterly update: generating more inclusive growth 6/1/2011 Working Paper
23 The poli tics of power: the poli tica l economy of rent-seeking i n electric util ities
in the Philippines
6/1/2011 Policy Research Working
Paper
24 Overview of the Philippines' Conditional Cash Transfer Program: the Pantawid
Pamilyang Pili pino Program (Pantawid Pamilya)
5/1/2011 Brief
25 Phi li ppi nes - Power di str ibuti on i n Ol onga po ci ty 4 /1 /2 011 Bri ef
26 Building governance and anti-corruption in the Philippines' conditional cash
transfer program
3/1/2011 Brief
27 The Search for Durable Solutions: armed conflic t and forced displacement in
Mindanao, Phili ppines
3/1/2011 Working Paper
28 The search for durable solutions: armed conflict and forced displacement in
Mindanao, Phili ppines
3/1/2011 Working Paper
29 Doing business in the Philippines 2011: comparing busi ness regulation in 25
cities and 183 economies
1/1/2011 Working Paper
30 Philippine health sector review: challenges and future directions 1/1/2011 Working Paper
48
7/28/2019 Phil Economic Update
59/60
Accelerang Reorms to Sustain Growth
Copies o The Philippine Economic Update:
O ../h
P kw D C (kDC):
W B KDC1.
G F T T P, F O J. R ( E A),
O B C, P C 1605
A I M KDC2.
J R. MM C, 123 P R A, M C 1226
A N U KDC3.
J OB L, A A, N C 4400
C P U KDC4.
G F H L III L, L J S, J, I C 5000
H R KDC5.
C P B D, 2F R.V. M B,
B P C, C H, 1126 Q C
N D U KDC6.
N D U L, N D A, C C 9600
P S U KDC7.G S - L B, M C, V S., P P C 5300
S P U P KDC8.
3 , L R C, M S., T C 3500
S U KDC9.
S U L, D C 6200
U S C KDC10.
U L, P. D R S, C C 6000
U S P KDC11.
O, D C 8000
7/28/2019 Phil Economic Update
60/60
1818 H Street, NW
Washington, DC 20043 USA
Internet: www.worldbank.org
World Bank Oce Manila
23rd Floor, The Taipan Place
F. Orgas Jr. Road, Orgas Center
Pasig City, Philippines
Telephone: (63-2) 637-5855
Internet: www.worldbank.org/ph
Internaonal Finance Corporaon
11th Floor, Tower One
Ayala Triangle, Ayala Avenue
Maka City, Philippines
Telephone: (63-2) 848-7333
Internet: www.ifc.org