Philippine Economic Update, October 2015 : Making Growth Work Better for Small Businesses

• 查看报告

作者：

World Bank

来源地址：

http://hdl.handle.net/10986/22925

关键词：

TAX INCENTIVES;  MONETARY POLICY;  HOLDING;  EQUIPMENT;  ACCOUNTING;  FINANCIAL MARKET PARTICIPANTS;  MICRO-ENTERPRISES;  INTEREST;  PUBLIC INVESTMENTS;  REMITTANCE;  GOVERNMENT REVENUES;  OPTION;  PRIVATE CREDIT;  DOMESTIC MARKET;  EXPORTERS;  CREDIT RATING AGENCIES;  REVENUES;  PORTFOLIO;  FISCAL POLICY;  CAPITAL ADEQUACY;  DOMESTIC INTEREST RATES;  LOAN;  CREDITWORTHINESS;  BORROWERS;  TRADE SECTOR;  BANKRUPTCY;  ASSET HOLDINGS;  GOVERNMENT SUPPORT;  DEBT BURDEN;  RURAL BANKS;  PAYMENT HISTORIES;  MARKET PARTICIPANTS;  LABOR MARKET;  BANK REGULATION;  CAPITAL OUTFLOW;  OIL PRICES;  BENEFICIARY;  CURRENCY;  INTEREST EXPENSE;  EXPORT GROWTH;  INCOME GROWTH;  CAPITAL FORMATION;  TAX REGIME;  REGISTRATION FEE;  REGULATORY SYSTEM;  FINANCIAL INSTITUTIONS;  DEBT;  BANKRUPTCY FRAMEWORK;  MARKETS;  LOCAL GOVERNMENT;  INFLATION RATE;  PUBLIC FINANCE;  LAND OWNERSHIP;  LOCAL STOCK MARKET;  DOMESTIC DEBT;  SHORT-TERM CAPITAL;  BORROWING COSTS;  DEBT SERVICE;  INVENTORY;  RESERVE REQUIREMENT;  BANKING SECTOR;  FISCAL DEFICIT;  GOVERNMENT BUDGETS;  TRANSACTIONS;  LAND TITLES;  INTERNATIONAL STANDARDS;  NOTARIES;  STOCK MARKET VOLATILITY;  FEDERAL RESERVE;  GOOD;  GOVERNMENT BUDGET;  GLOBAL MARKET;  PRINCIPAL PAYMENTS;  TRANSPARENCY;  MARKET CONDITIONS;  MINIMUM CAPITAL REQUIREMENT;  TURNOVER;  FOREIGN DIRECT INVESTMENT;  FIXED CAPITAL;  FOREIGN INVESTMENT;  INTEREST PAYMENT;  BANKRUPTCY PROCEDURES;  CREDIT INFORMATION;  LOAN PORTFOLIO;  PRIVATE CREDIT BUREAUS;  TAX RATES;  LOCAL MARKETS;  SECURITIES;  HOLDINGS;  INSURANCE;  FOREIGN PORTFOLIO INVESTMENTS;  CURRENCIES;  GOVERNMENT DEBT;  MICROFINANCE;  LOCAL FINANCIAL MARKET;  GLOBAL TRADE;  REGISTRATION SYSTEM;  COMMERCIAL BANKS;  CAPITAL REQUIREMENT;  PRIVATE INVESTMENTS;  PORTFOLIO INVESTMENT;  LENDING;  DEBT SWAP;  REMITTANCES;  PUBLIC SPENDING;  COMMODITY PRICES;  PAYMENT SYSTEMS;  LONG-TERM LOANS;  DURABLE EQUIPMENT;  TAX OBLIGATIONS;  DEFICIT;  DEEDS;  DEPOSIT;  LIABILITY;  GOVERNMENT EXPENDITURES;  LAND REFORM;  OIL PRICE;  BOND PRICE;  LIQUIDATION;  FINANCIAL MANAGEMENT;  STOCK;  INFORMATION TECHNOLOGY;  INFORMATION SYSTEM;  GOVERNMENT SPENDING;  MONEY SUPPLY;  INTEREST RATE;  PROPERTY RIGHTS;  EXCHANGE;  STOCK MARKET;  LIQUIDITY;  REGISTRATION PROCESSES;  EQUITY MARKET;  DEBTOR;  LEGAL PROTECTIONS;  TAX;  CASH TRANSFER;  INCOME TAX;  NON-PERFORMING LOANS;  BUDGETING;  RESERVE;  CREDITORS;  INFLATION;  CREDITOR;  PENSION;  MICROFINANCE INSTITUTIONS;  BUDGET;  BANK LENDING;  CENTRAL BANK;  MATURITY;  LONG-TERM DEBT;  MACROECONOMIC STABILITY;  INTERNATIONAL FINANCE;  FINANCIAL SUSTAINABILITY;  CREDIT RATINGS;  GLOBAL ECONOMY;  CREDIT UNIONS;  GOVERNMENT REGULATIONS;  TELECOMMUNICATIONS;  DISBURSEMENT;  POLICY RESPONSES;  CURRENT ACCOUNT SURPLUS;  CONTRACTS;  TRADING;  PRICE VOLATILITIES;  INTEREST RATES;  OPTIONS;  DEPOSIT ACCOUNTS;  SOVEREIGN BOND;  NATURAL DISASTERS;  CAPITAL OUTFLOWS;  HOUSEHOLD INCOME;  PRIVATE INVESTMENT;  RETURN;  DIRECT INVESTMENT;  LOANS;  RESERVES;  GROSS DOMESTIC PRODUCT;  PORTFOLIO INVESTMENTS;  CASH TRANSFERS;  FINANCE;  PUBLIC INVESTMENT;  TAXES;  EXPENDITURE;  EQUITY;  TRANSACTION;  INVESTORS;  VALUATIONS;  OPPORTUNITY COST;  TAX RATE;  FRAUD;  FINANCIAL CRISIS;  BUDGET SURPLUS;  COMPLIANCE COSTS;  INCOME SHOCKS;  SHORT-TERM DEBT;  BUDGETS;  PURCHASING POWER;  MOVEABLE COLLATERAL;  BOND MARKET;  CONTRACT;  REPAYMENT;  EXPENDITURES;  PROPERTY;  BIDS;  DOMESTIC FINANCIAL MARKET;  FOREIGN BANKS;  SOVEREIGN BOND MARKET;  ACCESS TO LOANS;  TRANSACTION COSTS;  MARKET;  CAPITAL OUTLAY;  CREDIT RATING;  FORMS OF COLLATERAL;  MARKET VALUE;  CREDIT BUREAU;  CREDIT INFORMATION SYSTEM;  MICRO- ENTERPRISES;  CURRENCY DEPRECIATION;  GOODS;  MARKET SHARE;  SECURITY;  BANK LOANS;  FINANCIAL MARKET;  DURABLE;  STOCKS;  STOCK EXCHANGE;  INVESTMENT;  BOND;  SHARE;  INVESTMENT CLIMATE;  TAX SYSTEM;  COLLATERAL;  POVERTY;  FINANCIAL MARKETS;  TARIFF;  BOND PRICES;  BID;  REVENUE;  EXTERNAL DEBT;  TAX POLICY;  PROFIT;  INVESTMENTS;  INTELLECTUAL PROPERTY;  CREDIT GROWTH;  EXCHANGE RATE;  DEBT SERVICING;  REPAYMENT RISK;  INTERNATIONAL SETTLEMENTS;  SMALL BUSINESSES;  SWAP;  Report;  Rapport;  Informe; 

年份：

2015

出版地：

Washington,USA

语种：

English

摘要：

The Philippines is among the strongest performers in the region, bucking the trend. In the first half (H1) of 2015, among the major economies in the region, the only countries to accelerate their quarterly growth rates were the Philippines, from 5 to 5.6 percent, and Vietnam. In spite of this acceleration, for the two quarters combined, Philippine growth rate came out at 5.3 percent—its lowest half year growth rate since 2011. On the demand side, the strong performance of private domestic demand at 8.1 percent, supported by record low inflation and robust remittances, drove GDP growth. However, the slow pace of public spending and the contraction in net exports pulled down GDP growth. On the supply side, the onset of El Niño led to stagnant agriculture growth. Meanwhile, growth in industry and services was respectable, with both sectors growing by around 5.8 percent. In Q3, available high frequency data suggest an improving economy, in particular, an acceleration in government spending.