Fiscal Balance in Philippines
Philippines - Fiscal BalanceAfter the upward growth surprise in Q3, activity is likely slowing slightly in Q4, but mainly due to a tougher base effect. Amid looser restrictions and fewer Covid-19 cases, private consumption should be supporting momentum, as suggested by strong import growth in October. Meanwhile, government spending growth remained robust in October and the manufacturing PMI rose through November. Moreover, investment likely continues to be aided by low interest rates and the “build, build, build” public infrastructure program, notwithstanding weakened private sector balance sheets and political uncertainty. However, the external sector is likely being hit by restrained growth in China, supply bottlenecks and the Omicron variant. Export growth was down significantly in October, while the government was forced to introduce restrictions on inbound tourism in December in response to the new strain.
Philippines - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-0.9||-2.3||-2.1||-3.1||-3.4|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||4.44||-4.11 %||Dec 27|
|Exchange Rate||50.66||0.02 %||Jan 01|
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January 13, 2022
Remittances totaled USD 2.5 billion in November, representing a 5.1% year-on-year expansion.
January 11, 2022
Merchandise exports jumped 6.6% on an annual basis in November, on the heels of October’s 2.0% increase.
January 5, 2022
Consumer prices flatlined over the previous month in December, coming in below November's 0.54% increase, amid softer price pressures for food.
January 3, 2022
The IHS Markit Manufacturing Purchasing Managers' Index (PMI) came in at 51.8 in December, up from November's 51.7.
December 15, 2021
At its monetary policy meeting on 15 December, the Central Bank of the Philippines maintained the overnight reverse repurchase facility rate at its record low of 2.00%, marking the ninth successive hold and matching market analysts’ expectations.