Philippines Economic Update, April 2017
The Philippine economy remained resilient to global headwinds in 2016. While a slower-than-expected global recovery weakened net exports, surging domestic demands pushed the annual GDP growth rate to 6.8 percent, year-on-year. Investment drove economy-wide growth for the first time since 2013, as the government's expansionary fiscal-policy stance helped capital formation to expand by 20.8 percent year-on-year led by the construction sector. Consumption growth remained strong at a rate of 6.9 percent year-on-year, as accommodative monetary policies kept interest rates low, supporting a double-digit expansion in consumer lending. Meanwhile, low inflation at 1.8 percent boosted households' purchasing power, while a steady increase in remittance inflows accelerated the growth of household consumption. Overall, 2016 saw a marked rise in consumer confidence, reflecting a healthy job market and effective social protection programs.
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| Format: | Report biblioteca |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2017-04
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| Subjects: | ECONOMIC GROWTH, ECONOMIC OUTLOOK, FISCAL TRENDS, MONETARY POLICY, EXCHANGE RATES, EMPLOYMENT, POVERTY, SHARED PROSPERITY, TRADE POLICY, EXPORT COMPETITIVENESS, GLOBAL VALUE CHAIN, COMPARATIVE ADVANTAGE, |
| Online Access: | http://documents.worldbank.org/curated/en/746271491832911953/Philippines-Economic-Update-Advancing-the-Investment-Agenda http://hdl.handle.net/10986/26399 |
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