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The Philippinesa€™ macroeconomic fundamentals have improved considerably during the past decade. However, new macrofinancial challenges are emerging. The economy is continuing to adjust to the large persistent inflows from abroad. Transmission of domestic policy interest rates has been weakened by low interest rates abroad and ample domestic liquidity. The continued focus on mobilizing fiscal revenue will help support sustained and inclusive growth, while strengthening resilience to shocks. Improvements in the investment climate would make growth more persistent and support domestic job creation.FAD TA missions on tax administration took place in January, February, and April -May 2012. ... assist the authorities in compiling and disseminating government finance statistics in accordance with Government Finance Statistics Manual 2001.

Author:International Monetary Fund. Asia and Pacific Dept
Publisher:International Monetary Fund - 2013-04-18


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