Philippines: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Philippines PDF Download
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Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513586513
Category : Business & Economics
Languages : en
Pages : 80
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Book Description
The economy is recovering after a major, pandemic-induced economic downturn. The authorities have deployed a comprehensive set of policy responses that have helped to mitigate the socioeconomic impact and maintain financial stability. The economic recovery slowed in the first half of 2021 due to a second wave of COVID-19 infections. Vaccination has started and is poised to accelerate from midyear.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513586513
Category : Business & Economics
Languages : en
Pages : 80
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Book Description
The economy is recovering after a major, pandemic-induced economic downturn. The authorities have deployed a comprehensive set of policy responses that have helped to mitigate the socioeconomic impact and maintain financial stability. The economic recovery slowed in the first half of 2021 due to a second wave of COVID-19 infections. Vaccination has started and is poised to accelerate from midyear.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513573209
Category : Business & Economics
Languages : en
Pages : 69
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Book Description
Guatemala has managed to keep infections and deaths moderate during the pandemic. The economic impact of COVID-19 has been mild given an early reopening of the economy, unprecedented policy support, and resilient remittances and exports. However, despite large-scale government interventions to support households, poverty and malnutrition have deteriorated following COVID-19 and the two major hurricanes battering Guatemala last November.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513597752
Category : Business & Economics
Languages : en
Pages : 84
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Book Description
High frequency estimates suggest a V-shaped recovery with output now poised to return close to 2019 levels already this year, much earlier than expected. Recently COVID-19 case numbers have risen sharply to new highs while vaccinations have also accelerated significantly after a slow start. The recovery has improved the fiscal outlook and the authorities submitted to Parliament a supplementary budget, with GEL 1.2 billion in additional spending roughly equivalent to the expected increase in revenues. The National Bank of Georgia (NBG) has increased the policy rate by 200 basis points to deal with high inflation driven by lagging effects of depreciation, commodity and food price increases, and supply side constraints.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513586033
Category : Business & Economics
Languages : en
Pages : 83
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Book Description
Singapore entered the COVID-19 pandemic with sizable policy space and robust economic policy frameworks, yet facing longer-term challenges. The economy has been severely impacted by the pandemic, but a bold, comprehensive, and coordinated policy package has helped cushion the economic fallout. Following a record contraction in the first half of 2020, activity has rebounded, and growth is projected to strengthen to 6 percent in 2021, underpinned by a recovery in domestic demand and a positive contribution from net exports. The uncertainty surrounding the outlook is larger than usual.
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 85
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Book Description
After a strong recovery from the pandemic in 2022, growth moderated in the first half of 2023 due to external headwinds, fiscal underspending, and normalization of pent-up demand. Inflation decelerated from the peak in early 2023 supported by domestic policy tightening despite a recent uptick related to resurgent commodity prices. Growth is projected to rebound in the second half of 2023 and 2024 while inflation is expected to gradually approach the target. Risks to the growth outlook are tilted to the downside, mainly stemming from persistently high inflation, globally and locally, and a highly uncertain global economic and geopolitical environment. Upside risks to the inflation outlook include higher commodity prices and potential second-round effects.
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 148437858X
Category : Business & Economics
Languages : en
Pages : 67
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Book Description
This 2018 Article IV Consultation highlights that the economy of The Philippines continues to perform well but is facing new challenges. Real GDP growth is projected to grow strongly in 2018 and 2019, supported by domestic demand. However, poverty and inequality challenges remain, inflation has risen, and external uncertainty has increased. The medium-term economic outlook remains favorable, but short-term risks have risen. Real GDP growth is projected at just under 7 percent over the medium term. Inflation is projected at above the 4 percent upper target bound in 2018 and stay in the upper half of the target band during 2019–2020. The current account deficit is projected to remain manageable, financed largely by foreign direct investment.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513573020
Category : Business & Economics
Languages : en
Pages : 104
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Book Description
A nascent recovery is underway in Thailand following the COVID-19 downturn. Ample policy buffers, underpinned by judicious management of public finances, allowed the authorities to implement a multipronged package of fiscal, monetary, and financial policies to mitigate the COVID-19 impact on households, businesses, and the financial system. This, together with rigorous containment measures, led to a successful flattening of the infection curve during most of 2020. Nevertheless, the pandemic has taken a large toll on the economy, potentially inducing long-term scarring and increasing inequality.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 151358779X
Category : Business & Economics
Languages : en
Pages : 111
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Book Description
While the non-mining sector was severely impacted by the COVID-19 crisis, overall growth in Guinea remains strong, reaching 7 percent in 2020, driven by booming mining production. Inflation exceeded 12 percent as a result of COVID-related supply disruptions and the ongoing monetary and fiscal response. The already weak social indicators have deteriorated further.
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1513529129
Category : Business & Economics
Languages : en
Pages : 58
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Book Description
This 2019 Article IV Consultation with Philippines highlights that the economic performance remains strong. The discussions focused on macroeconomic policies to keep the economy close to balance under the baseline outlook and risk scenarios; strategies for macroprudential policies to address risks from a potential renewed acceleration in credit growth; and policies and reforms to foster stronger and inclusive growth. Growth regained momentum in the second half of 2019 following a slowdown in the first half. The latter primarily reflected budgetary developments, with some temporary government underspending in the early part of the year. A decisive monetary policy tightening in response to the inflation spike and overheating risks in 2018 and weaker external demand also contributed. The structural reform momentum and infrastructure push remain strong. Gross domestic product growth is projected to rise further in the near term, underpinned by government spending acceleration and the recent monetary policy easing. Risks to the outlook are to the downside, reflecting risks to the global economy from increased trade tensions, shifts in global financial conditions, and natural disasters.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513593250
Category : Business & Economics
Languages : en
Pages : 84
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Book Description
Although Timor-Leste has made considerable progress in many areas since its independence in 2002, it faces significant medium-term challenges. The nation has pressing development needs, young institutions, and is highly dependent on oil. Oil revenues from active fields, which have been the main source of funding for government spending, are drying up. The non-oil private sector economy remains underdeveloped and lack of good jobs and high youth unemployment are serious concerns.
