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Philippines: Staff Report for the 2005 Article IV Consultation and Post-Program Monitoring Discussions

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  • International Monetary Fund

Abstract

The staff report for the 2005 Article IV Consultation on the Philippines highlights managing short-term vulnerabilities and higher investment and growth. Power generation tariffs have been raised to substantially cut the losses of the National Power Corporation (NPC). A risk to the near-term outlook for the Philippine economy is that political events, such as possible constitutional change, serve to sideline economic reforms. Executive Directors agreed that rebalancing the composition of public expenditure, with reduced current outlays providing space for capital and social spending, should form an integral part of the fiscal consolidation.

Suggested Citation

  • International Monetary Fund, 2006. "Philippines: Staff Report for the 2005 Article IV Consultation and Post-Program Monitoring Discussions," IMF Staff Country Reports 2006/092, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2006/092
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