taxation
Report No. 83315-PH
PHILIPPINE ECONOMIC UPDATE
PURSUING INCLUSIVE GROWTH THROUGH
SUSTAINABLE RECONSTRUCTION AND JOB CREATION
March 2014
Poverty Reduction and Economic Management Unit
Philippine Country Office
East Asia and Pacific Region
Document of the World Bank
1
PREFACE
The Philippine Economic Update provides an update on key economic and social developments, and policies over the past six months. It also presents findings from recent World Bank studies on the Philippines. It places them in a longer term and global context, and assesses the implications of these developments and policies on the outlook for the Philippines. Its coverage ranges from the macro-economy and financial markets to indicators of human welfare and development. It is intended for a wide audience, including policymakers, business leaders, financial market participants, and the community of analysts and professionals engaged in the
Philippines.
The Philippine Economic Update is a report of the World Bank’s Philippine Poverty Reduction and Economic Management (PREM) team. It was prepared by Karl Kendrick Chua (Senior
Country Economist and Task Team Leader), Paul Mariano (Research Analyst and Co-Task Team
Leader), Kai Kaiser (Senior Economist), Amelia Johnston (Economist), Joseph Louie Limkin
(Research Analyst), Kevin Cruz (Research Assistant), and Anthony Sabarillo (Junior Research
Assistant) under the guidance of Rogier van den Brink (Lead Economist). Secretarial and publication support by Maria Consuelo Sy (Program Assistant) and Ayleen Ang (Team Assistant) are gratefully acknowledged.
The sections on Typhoon Yolanda were contributed by a diverse group of individuals from the
Philippine Country Management Unit, the East Asia Poverty Reduction and Economic
Management Unit, Human Development Unit, and the Sustainable Development Unit. Special thanks go to Catherine Vidar (Disaster Risk Management Specialist) for coordinating the World
Bank’s
PHILIPPINE ECONOMIC UPDATE
PURSUING INCLUSIVE GROWTH THROUGH
SUSTAINABLE RECONSTRUCTION AND JOB CREATION
March 2014
Poverty Reduction and Economic Management Unit
Philippine Country Office
East Asia and Pacific Region
Document of the World Bank
1
PREFACE
The Philippine Economic Update provides an update on key economic and social developments, and policies over the past six months. It also presents findings from recent World Bank studies on the Philippines. It places them in a longer term and global context, and assesses the implications of these developments and policies on the outlook for the Philippines. Its coverage ranges from the macro-economy and financial markets to indicators of human welfare and development. It is intended for a wide audience, including policymakers, business leaders, financial market participants, and the community of analysts and professionals engaged in the
Philippines.
The Philippine Economic Update is a report of the World Bank’s Philippine Poverty Reduction and Economic Management (PREM) team. It was prepared by Karl Kendrick Chua (Senior
Country Economist and Task Team Leader), Paul Mariano (Research Analyst and Co-Task Team
Leader), Kai Kaiser (Senior Economist), Amelia Johnston (Economist), Joseph Louie Limkin
(Research Analyst), Kevin Cruz (Research Assistant), and Anthony Sabarillo (Junior Research
Assistant) under the guidance of Rogier van den Brink (Lead Economist). Secretarial and publication support by Maria Consuelo Sy (Program Assistant) and Ayleen Ang (Team Assistant) are gratefully acknowledged.
The sections on Typhoon Yolanda were contributed by a diverse group of individuals from the
Philippine Country Management Unit, the East Asia Poverty Reduction and Economic
Management Unit, Human Development Unit, and the Sustainable Development Unit. Special thanks go to Catherine Vidar (Disaster Risk Management Specialist) for coordinating the World
Bank’s