Socioeconomic Planning Secretary and NEDA Director General Arsenio M. Balisacan's statement during the press briefing in Malacañang on February 17, 2014 on the Philippine economy and poverty reduction roadmap.
Onofre D. Corpuz was a writer and educator born in Camiling, Tarlac who served as Secretary of Education from 1968-1971 and 1979-1983. He was also the 13th President of the University of the Philippines from 1975-1979. Some of his notable publications focused on Philippine history and the roots of the Filipino nation. The document then outlines the economic and social transformations of the Philippines from the pre-colonial era under small indigenous barangays, through the Spanish colonial period under the encomienda system and pueblo structure, the disruption of the Philippine-American War, and the development of a dual economy under American rule.
The document discusses the nature and definition of economy. It begins by explaining that early humans were nomadic hunters and gatherers who later formed permanent settlements and developed agriculture. It then defines key economic terms like economy, economics, factors of production, and different economic systems including traditional, planned, market, and mixed economies. The document also examines issues faced by the Philippine economy such as inequality, unemployment, and foreign debt. It provides both governmental and nationalist solutions that have been proposed to address these problems.
Chapter 13: The Dynamics of DevelopmentKimberlyJane5
1) Development is a long-term, complex process that requires sustained effort over time. All parts of society and the economy are interconnected and influence each other dynamically.
2) Economic development aims to improve the economic, political and social well-being of a nation's people through increasing production and institutional changes. Its objective is to provide more and better goods and opportunities that serve individual welfare.
3) Development centers around people, both as its objective and driving force. A country's stock of knowledge resides in its people, and economic development depends on people's ability to apply knowledge wisely for production.
Monetary and fiscal policy response and recent developmentsClaro Ganac
The document discusses recent global and domestic developments in the banking industry and their impact on monetary and fiscal policy. It outlines how the 1997 Asian financial crisis, 2008 global financial crisis, and other events have shaped government policies. Domestically, the Philippines' strong economic growth and improving financial markets are noted, alongside the Bangko Sentral ng Pilipinas' moves to tighten monetary policy like raising reserve requirements to manage inflation risks.
At the end of this lecture, you should be able to:
- Define taxation and taxes.
- Enumerate and explain the three inherent powers of the state.
- Describe different internal revenue taxes.
- Explain the different characteristics of taxes.
- Describe the nature of taxation in the Philippines
This document provides an overview of Philippine taxation. It begins with definitions of taxation and discusses principles like the necessity of taxes to fund government. It describes different types of taxes according to criteria like subject, burden, determination of amount, and purpose. Key points include taxes being compulsory, levied by the state for public purposes, and classified as direct or indirect. The document also covers tax system objectives, stages of taxation, laws, and the power and limitations of taxation. It discusses concepts like double taxation, tax exemptions, and interpreting tax laws. The last sections focus on income taxation principles and computing individual income tax.
Fiscal policy uses government spending and taxation to influence the economy. It aims to stimulate growth through deficit budgets but may also have non-economic goals that conflict with this. Taxes are collected from individuals, businesses, and imports while government borrows internally from institutions like the central bank or externally from foreign entities. Fiscal policy can be expansionary through tax cuts and more spending or contractionary with tax increases and less spending to restrict aggregate demand in the economy.
This document discusses key accounting principles and concepts related to revenue and expense recognition, adjusting entries, depreciation, doubtful accounts, and inventory. It explains that revenues are recognized when earned and expenses when incurred, and that adjusting entries are made at the end of each accounting period to apply these principles. Methods for recognizing and estimating depreciation, doubtful accounts, and taking physical inventory are also summarized.
Onofre D. Corpuz was a writer and educator born in Camiling, Tarlac who served as Secretary of Education from 1968-1971 and 1979-1983. He was also the 13th President of the University of the Philippines from 1975-1979. Some of his notable publications focused on Philippine history and the roots of the Filipino nation. The document then outlines the economic and social transformations of the Philippines from the pre-colonial era under small indigenous barangays, through the Spanish colonial period under the encomienda system and pueblo structure, the disruption of the Philippine-American War, and the development of a dual economy under American rule.
The document discusses the nature and definition of economy. It begins by explaining that early humans were nomadic hunters and gatherers who later formed permanent settlements and developed agriculture. It then defines key economic terms like economy, economics, factors of production, and different economic systems including traditional, planned, market, and mixed economies. The document also examines issues faced by the Philippine economy such as inequality, unemployment, and foreign debt. It provides both governmental and nationalist solutions that have been proposed to address these problems.
Chapter 13: The Dynamics of DevelopmentKimberlyJane5
1) Development is a long-term, complex process that requires sustained effort over time. All parts of society and the economy are interconnected and influence each other dynamically.
2) Economic development aims to improve the economic, political and social well-being of a nation's people through increasing production and institutional changes. Its objective is to provide more and better goods and opportunities that serve individual welfare.
3) Development centers around people, both as its objective and driving force. A country's stock of knowledge resides in its people, and economic development depends on people's ability to apply knowledge wisely for production.
Monetary and fiscal policy response and recent developmentsClaro Ganac
The document discusses recent global and domestic developments in the banking industry and their impact on monetary and fiscal policy. It outlines how the 1997 Asian financial crisis, 2008 global financial crisis, and other events have shaped government policies. Domestically, the Philippines' strong economic growth and improving financial markets are noted, alongside the Bangko Sentral ng Pilipinas' moves to tighten monetary policy like raising reserve requirements to manage inflation risks.
At the end of this lecture, you should be able to:
- Define taxation and taxes.
- Enumerate and explain the three inherent powers of the state.
- Describe different internal revenue taxes.
- Explain the different characteristics of taxes.
- Describe the nature of taxation in the Philippines
This document provides an overview of Philippine taxation. It begins with definitions of taxation and discusses principles like the necessity of taxes to fund government. It describes different types of taxes according to criteria like subject, burden, determination of amount, and purpose. Key points include taxes being compulsory, levied by the state for public purposes, and classified as direct or indirect. The document also covers tax system objectives, stages of taxation, laws, and the power and limitations of taxation. It discusses concepts like double taxation, tax exemptions, and interpreting tax laws. The last sections focus on income taxation principles and computing individual income tax.
Fiscal policy uses government spending and taxation to influence the economy. It aims to stimulate growth through deficit budgets but may also have non-economic goals that conflict with this. Taxes are collected from individuals, businesses, and imports while government borrows internally from institutions like the central bank or externally from foreign entities. Fiscal policy can be expansionary through tax cuts and more spending or contractionary with tax increases and less spending to restrict aggregate demand in the economy.
This document discusses key accounting principles and concepts related to revenue and expense recognition, adjusting entries, depreciation, doubtful accounts, and inventory. It explains that revenues are recognized when earned and expenses when incurred, and that adjusting entries are made at the end of each accounting period to apply these principles. Methods for recognizing and estimating depreciation, doubtful accounts, and taking physical inventory are also summarized.
Government budgeting & expenditures issues & problemsLouie Medinaceli
The document summarizes the Philippine government's implementation of a medium-term expenditure framework (MTEF), also known as multi-year budgeting, to address limitations of its previous one-year budgeting system. The MTEF establishes three-year budget ceilings and baselines for government agencies to foster fiscal discipline, strategic prioritization of resources, and improved operational efficiencies. It also links the budget more closely to the country's medium-term development plan through a consultative planning process. Initial results suggest the MTEF is helping the Philippine government better manage its budget and expenditures over multiple years.
The document provides a history of the Bureau of Internal Revenue (BIR) in the Philippines from 1965 to 2006 under different presidential administrations. It discusses key reforms, programs, and leadership changes that modernized tax administration and aimed to improve voluntary compliance and revenue collection. Major events included the establishment of a computerized integrated tax system, expansion of self-assessment programs, and increased focus on detecting non-compliance through data-matching and special operations targeting tax evaders.
This document discusses transfer taxes and estate taxes. It defines a transfer tax and differentiates between an estate tax and a donor's tax. It also covers the nature and concept of succession. Specifically, it defines succession as the transmission of a deceased person's property, rights and obligations to heirs through death. The document outlines the key elements of succession including the decedent, heir and estate. It also categorizes the different types of succession, heirs, and persons authorized to manage an estate.
The document summarizes an organization created in 1892 in the Philippines by Dr. Jose Rizal. The organization's goals were to unite the archipelago, provide mutual protection and defense against violence and injustice, and encourage instruction, agriculture, commerce, and reforms. It lists the organization's president, fiscal, treasurer, and secretary. It also mentions two groups that emerged from the organization - Cuerpo de Compromisarios who pledged to support La Solidaridad, and the more radical Katipunan led by Bonifacio that formed a secret society.
The Constitutional and Legal Basis of Public Finance in the PhilippinesLym Relampagos Ongoy
Presentation Report for MPA 457 Public Fiscal Administration. Majority of the topic taken from the book of Secretary Leonor Magtolis Briones "Philippine Public Fiscal Administration".
1. Economic development generally refers to sustained actions that promote standard of living and economic health in a specific area. This involves initiatives like developing human capital, infrastructure, competitiveness, sustainability, social inclusion, health, safety, and literacy.
2. Economic development differs from economic growth in that development is a policy intervention for economic and social well-being, while growth is a rise in market productivity and GDP. Growth is an aspect of development.
3. Traditional views saw development as efficient allocation of resources for goods/services production. New views define it as improvements in material welfare especially for the poor, eradicating poverty and its impacts, and greater participation in decision making.
Fiscal policy in the Philippines involves adjusting government spending and tax rates to influence the economy. Through history, administrations implemented various tax reforms such as expanding VAT coverage, increasing sin taxes on alcohol and cigarettes, cutting income tax for workers, and raising corporate tax rates to boost revenue. However, the tax system remained heavily reliant on indirect taxes and unresponsive to economic changes for many years. Recent reforms aimed to make the system simpler with reasonable rates while limiting exemptions.
The Philippines had an economy based on agriculture and exports prior to WWII. After independence in 1946, the Philippines remained dependent on trade with the US until implementing policies in the 1970s to encourage manufacturing exports and foreign investment, though debt and recessions caused problems. The economy suffered under Ferdinand Marcos' crony capitalism and mismanagement until reforms in the 1980s-1990s privatized industries and liberalized the economy, though corruption and crises slowed growth. Current policies aim to improve infrastructure and competitiveness.
The Philippines has experienced mixed economic results over recent decades. After initially showing promise as Asia's potential economic leader following WWII, its growth lagged behind countries like Thailand. Corruption and an unequal agricultural system held back development. However, the economy has grown steadily in recent years due to government spending, remittances from overseas workers, and a strong services sector including business outsourcing. While the global financial crisis has slowed growth, the long-term economic outlook for the Philippines remains positive.
Public Fiscal Management (Economic planning and fiscal management in the Phil...Jeff Gadong
The Philippines has traditionally had a private enterprise economy with limited government intervention. While some state-owned enterprises expanded under Marcos, the Aquino government pursued privatization. Economic planning focused on growth targets and project implementation. Responsibility for planning fell to the National Economic and Development Authority (NEADA). The NEADA produced several 5-year plans under Marcos and Aquino focusing on poverty alleviation, employment, and equitable growth. However, goals were not always achieved due to conflicts and indecisiveness. The government also focused on maintaining relations with international creditors, limiting development spending.
Taxation 101 basic rules and principles in philippine taxation by jr lopez go...JR Lopez Gonzales
The document discusses taxation in the Philippines, including:
1. It defines taxation as the imposition of financial charges by the government to raise revenues and fund government expenses.
2. It outlines the history of taxation from ancient times to its development under Spanish colonial rule and the establishment of taxes like the cedula.
3. It describes the main purposes of taxation as raising revenues, redistribution of wealth, repricing goods/services, and representation of citizens in government.
The document discusses the importance of summarization for processing large amounts of text data. Automatic summarization systems aim to generate concise summaries while retaining the most important concepts and facts from the original text. However, accurately summarizing documents continues to be a challenging task that sees ongoing research and development of new techniques.
Land reform aims to remedy defects in land ownership and use. It involves redistributing private lands through expropriation or purchase and distributing public lands. It regulates tenancy, agricultural labor, and absentee landlordism. Production structure reform consolidates small holdings and imposes ceilings and floors on land holdings. Agrarian reform comprehensively reforms land tenure, production structures, and support services to lift farmers' economic status.
An introduction to Philippine History starting from the so called precolonial period up to the American occupation to the Philippine Archipelago. I hope it can help!
Public finance refers to the revenue and spending of governments to achieve national objectives through a cycle of formulating fiscal policy, generating revenue from taxes and other sources, and expending funds through the national budget. The national budget allocation for 2011 in the Philippines totaled 1.645 trillion pesos, with the largest portions going to education, public works, and national defense. Government efforts to improve revenue include tax reforms and tighter spending controls under the 2011 budget.
Meaning of economic development, core values in economic development, Developed countries, Underdeveloped countries, Characteristics , Difference between Economic Growth and Economic Development.
Fiscal policy involves the use of government spending, taxation, and borrowing to influence a nation's economy. It aims to achieve full employment, economic growth, price stability, and other economic goals. Keynesians argue that expansionary fiscal policy can boost aggregate demand and pull an economy out of recession, while contractionary fiscal policy can reduce demand and curb inflation. However, critics note that large government deficits may crowd out private sector borrowing and investment by raising interest rates.
The document discusses the nature and structure of local governments. It defines local governments as subordinate political entities that are territorial subdivisions of a higher national authority. Local governments have legal authority to provide services to their constituents. They exist in hierarchical layers and are constituted as municipal corporations. The rationale for local governments is that they promote welfare by providing services at a community level. The document outlines different systems of classifying local government structures internationally and describes the structures and services of local government units in the Philippines.
This document discusses key concepts in public finance administration such as legal basis, taxation, budgeting, accounting, and auditing. It defines these terms and outlines their theoretical foundations and constitutional basis under Philippine law. Taxation involves imposing burdens on citizens and property to raise government revenue, and has its basis in theories of necessary government services and social contract. Budgeting establishes the government's financial plan through a process outlined in the constitution. Accounting and auditing measure and verify financial information, ensuring proper use of public funds.
This document outlines key concepts related to understanding the Philippine economy. It discusses the main sectors of the economy (public and private), the government's role in managing fiscal and monetary policy, the four sectors of the economy (households, businesses, government, foreign), macroeconomic goals, the economic cycle and its phases, types of economic indicators, and several Philippine economic organizations. The overall document provides an introduction and overview to important economic concepts for analyzing and understanding the Philippine economy.
The Current Economic State of the Philippinesfinancist
1) The Philippines has transitioned to a newly industrialized economy focused on exports and services over natural resources. This has left the agricultural sector lagging.
2) Strong economic growth has been driven by the services sector, particularly business process outsourcing, and the manufacturing industry. However, inflation and inequality remain problems.
3) Population growth and migration to cities has increased poverty in urban areas where jobs cannot keep up. The economy relies on growth being inclusive to sustain itself.
Government budgeting & expenditures issues & problemsLouie Medinaceli
The document summarizes the Philippine government's implementation of a medium-term expenditure framework (MTEF), also known as multi-year budgeting, to address limitations of its previous one-year budgeting system. The MTEF establishes three-year budget ceilings and baselines for government agencies to foster fiscal discipline, strategic prioritization of resources, and improved operational efficiencies. It also links the budget more closely to the country's medium-term development plan through a consultative planning process. Initial results suggest the MTEF is helping the Philippine government better manage its budget and expenditures over multiple years.
The document provides a history of the Bureau of Internal Revenue (BIR) in the Philippines from 1965 to 2006 under different presidential administrations. It discusses key reforms, programs, and leadership changes that modernized tax administration and aimed to improve voluntary compliance and revenue collection. Major events included the establishment of a computerized integrated tax system, expansion of self-assessment programs, and increased focus on detecting non-compliance through data-matching and special operations targeting tax evaders.
This document discusses transfer taxes and estate taxes. It defines a transfer tax and differentiates between an estate tax and a donor's tax. It also covers the nature and concept of succession. Specifically, it defines succession as the transmission of a deceased person's property, rights and obligations to heirs through death. The document outlines the key elements of succession including the decedent, heir and estate. It also categorizes the different types of succession, heirs, and persons authorized to manage an estate.
The document summarizes an organization created in 1892 in the Philippines by Dr. Jose Rizal. The organization's goals were to unite the archipelago, provide mutual protection and defense against violence and injustice, and encourage instruction, agriculture, commerce, and reforms. It lists the organization's president, fiscal, treasurer, and secretary. It also mentions two groups that emerged from the organization - Cuerpo de Compromisarios who pledged to support La Solidaridad, and the more radical Katipunan led by Bonifacio that formed a secret society.
The Constitutional and Legal Basis of Public Finance in the PhilippinesLym Relampagos Ongoy
Presentation Report for MPA 457 Public Fiscal Administration. Majority of the topic taken from the book of Secretary Leonor Magtolis Briones "Philippine Public Fiscal Administration".
1. Economic development generally refers to sustained actions that promote standard of living and economic health in a specific area. This involves initiatives like developing human capital, infrastructure, competitiveness, sustainability, social inclusion, health, safety, and literacy.
2. Economic development differs from economic growth in that development is a policy intervention for economic and social well-being, while growth is a rise in market productivity and GDP. Growth is an aspect of development.
3. Traditional views saw development as efficient allocation of resources for goods/services production. New views define it as improvements in material welfare especially for the poor, eradicating poverty and its impacts, and greater participation in decision making.
Fiscal policy in the Philippines involves adjusting government spending and tax rates to influence the economy. Through history, administrations implemented various tax reforms such as expanding VAT coverage, increasing sin taxes on alcohol and cigarettes, cutting income tax for workers, and raising corporate tax rates to boost revenue. However, the tax system remained heavily reliant on indirect taxes and unresponsive to economic changes for many years. Recent reforms aimed to make the system simpler with reasonable rates while limiting exemptions.
The Philippines had an economy based on agriculture and exports prior to WWII. After independence in 1946, the Philippines remained dependent on trade with the US until implementing policies in the 1970s to encourage manufacturing exports and foreign investment, though debt and recessions caused problems. The economy suffered under Ferdinand Marcos' crony capitalism and mismanagement until reforms in the 1980s-1990s privatized industries and liberalized the economy, though corruption and crises slowed growth. Current policies aim to improve infrastructure and competitiveness.
The Philippines has experienced mixed economic results over recent decades. After initially showing promise as Asia's potential economic leader following WWII, its growth lagged behind countries like Thailand. Corruption and an unequal agricultural system held back development. However, the economy has grown steadily in recent years due to government spending, remittances from overseas workers, and a strong services sector including business outsourcing. While the global financial crisis has slowed growth, the long-term economic outlook for the Philippines remains positive.
Public Fiscal Management (Economic planning and fiscal management in the Phil...Jeff Gadong
The Philippines has traditionally had a private enterprise economy with limited government intervention. While some state-owned enterprises expanded under Marcos, the Aquino government pursued privatization. Economic planning focused on growth targets and project implementation. Responsibility for planning fell to the National Economic and Development Authority (NEADA). The NEADA produced several 5-year plans under Marcos and Aquino focusing on poverty alleviation, employment, and equitable growth. However, goals were not always achieved due to conflicts and indecisiveness. The government also focused on maintaining relations with international creditors, limiting development spending.
Taxation 101 basic rules and principles in philippine taxation by jr lopez go...JR Lopez Gonzales
The document discusses taxation in the Philippines, including:
1. It defines taxation as the imposition of financial charges by the government to raise revenues and fund government expenses.
2. It outlines the history of taxation from ancient times to its development under Spanish colonial rule and the establishment of taxes like the cedula.
3. It describes the main purposes of taxation as raising revenues, redistribution of wealth, repricing goods/services, and representation of citizens in government.
The document discusses the importance of summarization for processing large amounts of text data. Automatic summarization systems aim to generate concise summaries while retaining the most important concepts and facts from the original text. However, accurately summarizing documents continues to be a challenging task that sees ongoing research and development of new techniques.
Land reform aims to remedy defects in land ownership and use. It involves redistributing private lands through expropriation or purchase and distributing public lands. It regulates tenancy, agricultural labor, and absentee landlordism. Production structure reform consolidates small holdings and imposes ceilings and floors on land holdings. Agrarian reform comprehensively reforms land tenure, production structures, and support services to lift farmers' economic status.
An introduction to Philippine History starting from the so called precolonial period up to the American occupation to the Philippine Archipelago. I hope it can help!
Public finance refers to the revenue and spending of governments to achieve national objectives through a cycle of formulating fiscal policy, generating revenue from taxes and other sources, and expending funds through the national budget. The national budget allocation for 2011 in the Philippines totaled 1.645 trillion pesos, with the largest portions going to education, public works, and national defense. Government efforts to improve revenue include tax reforms and tighter spending controls under the 2011 budget.
Meaning of economic development, core values in economic development, Developed countries, Underdeveloped countries, Characteristics , Difference between Economic Growth and Economic Development.
Fiscal policy involves the use of government spending, taxation, and borrowing to influence a nation's economy. It aims to achieve full employment, economic growth, price stability, and other economic goals. Keynesians argue that expansionary fiscal policy can boost aggregate demand and pull an economy out of recession, while contractionary fiscal policy can reduce demand and curb inflation. However, critics note that large government deficits may crowd out private sector borrowing and investment by raising interest rates.
The document discusses the nature and structure of local governments. It defines local governments as subordinate political entities that are territorial subdivisions of a higher national authority. Local governments have legal authority to provide services to their constituents. They exist in hierarchical layers and are constituted as municipal corporations. The rationale for local governments is that they promote welfare by providing services at a community level. The document outlines different systems of classifying local government structures internationally and describes the structures and services of local government units in the Philippines.
This document discusses key concepts in public finance administration such as legal basis, taxation, budgeting, accounting, and auditing. It defines these terms and outlines their theoretical foundations and constitutional basis under Philippine law. Taxation involves imposing burdens on citizens and property to raise government revenue, and has its basis in theories of necessary government services and social contract. Budgeting establishes the government's financial plan through a process outlined in the constitution. Accounting and auditing measure and verify financial information, ensuring proper use of public funds.
This document outlines key concepts related to understanding the Philippine economy. It discusses the main sectors of the economy (public and private), the government's role in managing fiscal and monetary policy, the four sectors of the economy (households, businesses, government, foreign), macroeconomic goals, the economic cycle and its phases, types of economic indicators, and several Philippine economic organizations. The overall document provides an introduction and overview to important economic concepts for analyzing and understanding the Philippine economy.
The Current Economic State of the Philippinesfinancist
1) The Philippines has transitioned to a newly industrialized economy focused on exports and services over natural resources. This has left the agricultural sector lagging.
2) Strong economic growth has been driven by the services sector, particularly business process outsourcing, and the manufacturing industry. However, inflation and inequality remain problems.
3) Population growth and migration to cities has increased poverty in urban areas where jobs cannot keep up. The economy relies on growth being inclusive to sustain itself.
The document discusses public economic enterprises (PEEs) owned by local governments in the Philippines. It defines PEEs and purposeful PEEs, which contribute to sustainable development and quality service delivery. Purposeful PEEs are managed according to clear goals and business plans. They can help reduce poverty by providing equitable access to services, attracting investors, and potentially involving small and medium enterprises. PEEs also contribute to local economic development, revenue generation, and good governance. However, many current PEEs operate at a loss and require subsidies, and their management could be improved. The document discusses policy options for strengthening PEEs through greater autonomy, privatization, cooperation between local governments, and changes to fees and management
Chapter 1 the role of business in economic setting ghazdan
This document provides an overview of business and economic systems. It defines business as an organization that produces goods and services to earn a profit by satisfying consumer needs and wants. The key activities of business are to produce goods and services, seek profit, and satisfy consumers. An economic system is the method a society uses to allocate its resources and needs. The main economic systems discussed are capitalism, communism, socialism, and mixed economies.
This document discusses public economic enterprises (PEEs) owned by local governments that provide services to meet public demand. Common PEEs include public markets, slaughterhouses, bus terminals, and waterworks. PEEs receive funding from government budgets and aim to contribute to poverty reduction by equitably providing services, generating profits, and attracting investors. However, many PEEs operate at a loss, require subsidies, and offer poor quality services. Effective management of PEEs in accordance with business plans could help address issues and better support local economic development and public services.
Este documento presenta la introducción de un libro sobre estrategia militar escrito por el General francés André Beaufre. En ella, Beaufre argumenta que la estrategia ya no es apreciada en la era moderna, pero sigue siendo crucial para tener éxito en conflictos. Explica que la estrategia no debe ser una doctrina única sino un método de pensamiento flexible. Además, señala que la estrategia debe abarcar todos los ámbitos de la guerra moderna (político, económico, diplomático y militar) y no
Development requires sustained effort over long periods and involves changes. Economic growth refers to increases in output or production, while economic development also includes changes to production arrangements. Development in humans and countries involves not just physical increases but also changes to attitudes, habits, and intelligence/institutions to become mature. Economic development is characterized by sustained output increases, widespread structural changes, and growth in efficiency shaped by non-economic factors.
The document summarizes the key findings of the Economic and Social Survey of Asia and the Pacific 2015. It finds that:
1) Economic growth in developing Asia-Pacific economies is forecast to slightly increase to 5.9% in 2015, driven by domestic factors, but growth potential is constrained by infrastructure shortages and commodity dependence.
2) Inflation is expected to decline to 3.3% in 2015 due to lower oil prices, allowing for interest rate reductions, though volatility in capital flows requires prudence.
3) Economic growth has not been inclusive, as inequality between rural/urban and gender has risen, and a lack of productive employment remains a key challenge.
This document contains multiple graphs and statistics about Mongolia's economy:
- It shows Mongolia's GDP breakdown by sector and contributions to GDP growth from 2007-2011.
- Mongolia's GDP per capita has risen steadily from 2005-2011.
- Its exports, imports and current account balance fluctuated from 2007-2013.
- Foreign direct investment as a percentage of GDP peaked in 2011 after growing steadily since 2002.
- The mining sector represents a large portion of Mongolia's exports, government revenue and GDP.
- Inequality can weaken economic growth by reducing human capital and social cohesion.
- Mongolia faces challenges of managing natural resource revenue transparently and diversifying its economy.
Investment Grade Philippines: Seizing Opportunities to Achieve Inclusive GrowthArangkada Philippines
The document summarizes the macroeconomic performance and outlook of the Philippines. It notes that the Philippine economy sustained robust growth in the first half of 2013, supported by sound macroeconomic fundamentals including low and stable inflation, a favorable interest rate environment, a sound banking system, and sustainable fiscal and external positions. It discusses key drivers of growth as well as risks, and emphasizes the need to improve social outcomes like employment generation and poverty reduction to achieve inclusive growth. Priority sectors for supporting inclusive growth are also highlighted.
Investment Grade Philippines: Seizing Opportunities to Achieve Inclusive GrowthWesley Ong
This document summarizes the macroeconomic performance and outlook of the Philippines. It notes that GDP growth was robust at 6.8% in 2012 and 7.6% in the first half of 2013, driven by strong growth in industry and services. Inflation was low and stable while interest rates were favorable. The fiscal deficit and debt levels were sustainable. The document outlines strategies to promote inclusive growth, particularly in priority sectors like agriculture, manufacturing, housing, and infrastructure. It expresses confidence that growth will continue in 2013-2014 if these strategies are implemented, while remaining vigilant against domestic and global risks.
1) The document discusses asymmetries between developed and developing countries in their economic response to COVID-19, with advanced economies projected to recover sooner.
2) Fiscal stimulus measures have been much larger in advanced economies who have more fiscal space, while emerging markets face a less favorable external environment.
3) Unequal access to COVID vaccines has led to varying vaccination rates between countries in Latin America and the Caribbean.
Ayala upse forum the state of the economy-29_jan2015_finalnedaph
The Philippine economy has experienced a resurgence in growth since 2010, with average growth of 6.3% from 2010-2014. This is the highest 5-year average growth in over 40 years. Private consumption and the services sector have driven growth, though investment and industry are becoming larger drivers. While growth has been strong, poverty and employment remain challenges. Deepening reforms are needed to sustain growth and make it more inclusive, such as increasing infrastructure spending, investing in human capital, improving disaster preparedness, and addressing conflicts.
Bangladesh is a parliamentary democracy located in South Asia. It has a population of over 160 million people and a GDP of $163.2 billion, which has been growing steadily at around 6% annually. Key sectors of the economy include agriculture, manufacturing (especially garments), and services. Despite natural disasters, political transitions and global economic slowdowns, Bangladesh has demonstrated economic resilience with stable fiscal and monetary conditions supporting continued growth.
The document summarizes Mongolia's macroeconomic policies in response to balance of payments shocks and after economic adjustment. It discusses:
1. Mongolia implemented countercyclical monetary and fiscal policies to ensure stability during a 2013 balance of payments shock, maintaining balanced economic growth.
2. In response, Mongolia absorbed shock impacts through exchange rate flexibility and reserves while implementing economic stimulus measures and reforms.
3. Going forward, Mongolia aims to maintain a prudent and stable macroeconomic policy mix of fiscal discipline and flexible, non-inflationary monetary policy to support sustainable growth.
The document summarizes Mongolia's macroeconomic policies in response to balance of payments shocks and after economic adjustment. It discusses:
1. Mongolia implemented countercyclical monetary and fiscal policies to ensure stability during a 2013 balance of payments shock, maintaining balanced economic growth.
2. In response, Mongolia absorbed shock impacts through exchange rate flexibility and reserves while implementing economic stimulus measures and reforms.
3. Going forward, Mongolia aims to maintain a prudent and stable macroeconomic policy mix of fiscal discipline and flexible, non-inflationary monetary policy to support sustainable growth.
This document discusses Malaysia's economic development and challenges in transitioning to a high-income country. Key points include:
- Malaysia has been an upper-middle income country since 1988 but has yet to become high income, with a GDP per capita of $10,687 in 2013.
- Private investment declined significantly after the 1997 Asian Financial Crisis while savings have exceeded investment.
- Malaysia's workforce remains relatively unskilled, with 77% educated only up to secondary level, and productivity growth has been slow.
- R&D expenditure is only 1.06% of GDP, lower than other developing Asian countries.
The document outlines Malaysia's transformation agenda to become a high-income nation by 2020, focusing
The National Development Agenda: Priorities, Challenges and StatusWBKDC
This document summarizes the key points from a presentation on the Philippine Development Plan from 2011-2016. It discusses the goals of inclusive growth and reducing poverty. It identifies challenges to achieving inclusive growth such as inadequate infrastructure, governance issues, and human development gaps. The presentation outlines strategies to overcome these challenges through investments in infrastructure, governance reforms, human capital development, and job creation. It provides updates on accomplishments so far in achieving economic growth, reforms, and stability. It emphasizes the importance of spatial and sectoral strategies to ensure inclusive development.
State of economy - economic survey of India 2013-14Swapnil Soni
The document provides an economic survey of India for 2013-14 prepared by the Ministry of Finance. It analyzes key economic indicators such as GDP growth, production, prices, external trade and debt, monetary trends, and government finances. Some highlights include:
- Real GDP growth slowed to 4.5% in 2013-14, the second successive year of sub-5% growth.
- Inflation remained above target levels and food inflation was a major contributor to overall inflation.
- Exports grew 4.1% in 2013-14 while imports declined 8.3%, improving the current account deficit.
- The survey identifies structural constraints like low manufacturing and agricultural productivity that are hampering the growth potential of
The document discusses Mongolia's economic reforms and positive outlook. It notes that despite falling foreign direct investment, Mongolia has maintained macroeconomic stability with low inflation, a reduced current account deficit, and a trade surplus. The economy is moving towards a "new equilibrium" with balanced external payments. Several major investment projects and agreements with countries like Japan, India, and China will support growth going forward as Mongolia shifts from consumption to savings-based growth and prudent fiscal reforms.
This document summarizes key findings from the 2015 OECD Economic Survey of Indonesia. It finds that while Indonesia has experienced strong growth that has reduced poverty, inequality is rising and structural changes are needed to ensure inclusive growth. It recommends strengthening social programs, education, infrastructure spending and the targeting of social security to support inclusive growth and development. Productivity in agriculture and energy diversification also need to increase to make the most of natural resources.
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The Philippine Economy: Progress, Challenges, Strategies by Secretary Arsenio M. Balisacan
1. The Philippine Economy:
Progress, Challenges, Strategies
ARSENIO M. BALISACAN
Secretary of Socioeconomic Planning
Malacañan Palace, 17 February 2014
17-Feb-14
1
2. The Philippine economy has been growing robustly…
8,000,000
Real GDP at 2000 prices (Millions Php)
Trend (HP Filter)
7,000,000
6,000,000
5,000,000
4,000,000
3,000,000
2,000,000
1,000,000
0
Source: Philippine Statistics Authority and National Economic and Development Authority
3. Strong macroeconomic fundamentals supported this
remarkable performance.
Favorable interest rate and
sound banking system
Low and Stable inflation
9.0
8.0
7.0
6.0
5.0
4.0
3.0
2.0
10
Headline Inflation
25
NPL Ratio,
LHS*
8
Low-end Target
20
6
Real interest
rates, RHS**
15
4
High-end Target
CAR, RHS***
10
2
2005
2006
2007
2008
2009
2010
2011
2012
2013
5
0
0
2005
Note: High and low-end targets are based on the BSP publication on Inflation Targeting
dated September 2013; Actual inflation figures are based on the 2006 CPI series.
2006
2007
2008
2009
2010
2011
2012
2013
* end-November 2013, **Jan-Nov 2013, *** end-June 2013
Sustainable fiscal and external position
80.00
0.00
60.00
60.0
-1.00
4.8
-2.00
20.00
-3.00 20.0
4.5
3.1
Fiscal Balance to GDP (RHS)
* Fiscal balance to GDP as of September 2013; NG Debt to
GDP as of November
44.1
37.1
31.3
2005
NG Debt to GDP (LHS)
4.0
2.8
2.1
1.9
52.7
-4.00
2005 2006 2007 2008 2009 2010 2011 2012 2013*
4.6
40.0
40.00
0.00
6.0
5.6
4.4
2006
2007
2008
2.0
32.6
30.1
27
2009
2010
2011
24.1
21.9
0.0
0.0
External Debt to GDP Ratio (LHS)
* 2013 data is for the period Jan-Sep
2012 2013*
Current Account to GDP Ratio (RHS)
4. The government has considerable fiscal space for making
investments to catalyze private ventures, provide public
goods and fund social programs
National Government’s Sectoral Spending (% of GDP)
7.0
6.0
5.0
4.0
3.0
2.0
1.0
1986
1988
Health
1990
1992
1994
1996
1998
Education, Culture and Manpower Development
2000
2002
2004
Interest Payment
Source: Department of Budget and Management and Philippine Statistics Authority
2006
2008
2010
2012
Infrastructure and Other Capital Outlay
2014
5. We are on track with respect to our economic targets. But we lag with
respect to our desired social outcomes.
PDP 2011-2016 Targets
7-8%
Gross Domestic Product
22%
Investment/GDP ratio
6.8-7.2%
Unemployment Rate
Poverty Incidence down to
16.6%
Where are we now?
6.8% (2012)
7.2% (2013)
Real GDP Growth
20.3% (2012)
21.1% (2013)
Fixed Capital as ratio
to GDP
Unemployment rate
7.0% (2012)
7.1% (2013)
Underemployment rate
20.0% (2012)
19.3% (2013)
26.3% (2009)
25.2% (2012)
Poverty Rate
6. Lessons Learned: Midterm Assessment
of PDP 2011-2016
• Good governance has proven to be an effective platform
upon which strategies should be implemented.
• Macroeconomic (fiscal, financial, external) and political
stability fuels positive expectations that lead to growth.
• Economic growth is necessary but not sufficient for poverty
reduction.
• Growth strategies need to have spatial and sectoral
dimensions to ensure inclusivity.
• Disasters can negate the gains and even push back
development.
6
7. GDP Growth Targets for 2014-2016
Annual Plan Targets
Baseline
(2012)
2014
2015
2016
6.8
6.5 -7.5
7.0-8.0
7.5-8.5
GVA in agriculture, hunting,
fishery and forestry
2.8
(0.9)-0.1
2.0-3.0
2.5-3.5
GVA in industry
6.8
9.8-11.0
8.6-9.7
9.3-10.3
GVA in services
7.6
6.0-6.9
6.8-7.8
7.2-8.1
Indicator
Gross Domestic Product (%)
8. Employment Target for 2014-2016
Annual Plan targets
Baseline
(2012)
2014
2015
2016
Unemployment rate (in %)
7.0
6.7 - 6.9
6.6 - 6.8
6.5 - 6.7
Underemployment rate(% of
employed)
20.0
19.0
18.0
17.0
Indicators
a/ cannot be computed due to changes in industry classifications. In January 2012, the Philippine Statistics Authority (PSA) started
to adopt the 2009 Philippine Standard Industrial Classification (PSIC)for the industry codes. Prior to this, the PSA used the 1994
PSIC.
9. Poverty Incidence Target for
2014-2016
Indicator
Poverty Incidence (% of
population)
Multidimensional Poverty (% of
population)
Baseline
(2012)
25.2
Annual Plan Targets
2014
2015
2016
23.0-25.0 20.0-23.0
18.0-20.0
28.2 (2008) 20.0-22.0 18.0-20.0
16.0-18.0
12. Category 1: Provinces with the most number
of poor households
• Growth opportunities may be
present but the poor cannot
participate in the growth process
• In-migration; provinces attract
the poor from other places but
are unable to get jobs due to
lack of skills
13. Category 1: Provinces with the most number
of poor households
PROVINCE
REGION
NO. OF POOR
HOUSEHOLDS
1) Zamboanga del Sur Western Mindanao
170,181
2) Cebu
Central Visayas
151,425
3) Pangasinan
Ilocos
148,601
4) Negros Occidental
Western Visayas
138,664
5) Camarines Sur
Bicol
136,208
6) Leyte
Eastern Visayas
132,377
7) Iloilo
Western Visayas
122,770
8) Sulu
ARMM
122,218
9) Quezon
CALABARZON
122,139
10) Davao del Sur
Davao Region
111,655
Strategy:
• Promote higher growth to create
more employment opportunities
• Upgrade skill sets of the poor,
undertake more aggressive
employment facilitation
• Begin with growth sectors: ITBPM, tourism, manufacturing,
and logistics
14. Category 2: Provinces where the proportion
of poor households is high
• Limited opportunities for rapid
growth
• Small population, low density,
remote areas
• Weather-related events and
armed conflict
15. Category 2: Provinces where the proportion
of poor households is high
PROVINCE
REGION
Poverty
Incidence (%)
Lanao del Sur
ARMM
73.8
Maguindanao
ARMM
63.7
Eastern Samar
Eastern Visatas
63.7
Apayao
Cordillera
61.4
Zamboanga del
Norte
Western Mindanao
54.4
Camiguin
Northern Mindanao
53.6
Saranggani
SOCCSKSARGEN
53.2
North Cotabato
SOCCSKSARGEN
52.4
Masbate
Bicol
51.3
Northern Samar
Eastern Visayas
50.2
Strategy:
• Social assistance programs
while economic opportunities
are being created
• Programs that promote
economic and physical mobility
• Peace-building efforts
16. Category 3. Provinces prone to multiple
hazards
LIST OF PROVINCES
Abra
Agusan del Sur
Albay
Antique
Aurora
Benguet
Bohol
Cagayan
Catanduanes
Cavite
Dinagat Islands
Eastern Samar
Ilocos Norte
Ilocos Sur
Iloilo
Isabela
Laguna
Leyte
Northern Samar
Nueva Vizcaya
Pampanga
Quezon
Quirino
Rizal
Southern Leyte
Surigao del Norte
Surigao del Sur
Zambales
Zamboanga del Sur
Zamboanga Sibugay
Marginally non-poor can slide into
poverty due to shocks or disasters;
poor can slide deeper to poverty
Strategy:
• Risk reduction and mitigation
• Social insurance and social
protection
• Income diversification
17. Plan Implementation
• Convergence of different government agencies
• Role of the private sector, business, development
partners
• Implementation will be monitored by a NEDA committee
or Cabinet cluster
• NEDA Secretariat will produce annual reports on
progress/accomplishment