The Philippine economy has seen inflation rates of 3.1% in 2012 and 4.7% in 2011, with GDP deflator reaching a maximum of 53.34% in 1984 and minimum of 1.96% in 1967. The country has an economic freedom score of 60.1, ranking it 89th globally and 16th in Asia-Pacific, with improvements in seven freedoms offset by deteriorations in property rights. While the economy has grown 5% annually over five years through government reforms, lingering challenges will require deeper commitment to reforms such as further reducing corruption.

1. Some Facts About The Current
Philippine Economy

2. Inflation rate (consumer prices): 3.1%
(2012 est.)
4.7% (2011 est.)

3. The value for Inflation, GDP deflator
(annual %) in Philippines was 4.06 as
of 2011. As the graph below shows,
over the past 50 years this indicator
reached a maximum value of 53.34 in
1984 and a minimum value of 1.96 in
1967.

4. The Philippines’ economic
freedom score is 60.1

5. …making its economy the 89th freest
in the 2014 Index.

6. The Philippines ranks 16th out of 42
countries in the Asia–Pacific region

7. Its overall score is slightly below the
world average.
27/50?

8. Improvements in seven of the 10
economic
freedoms,
including
significant gains in trade freedom,
investment freedom, and freedom
from corruption, have been partially
offset by a deterioration in property
rights

9. The Philippine economy has recorded average
annual growth of around 5 percent over the
past five years.

10. The government has pursued a series
of legislative reforms to enhance the
investment environment and
incentivize broader-based privatesector job growth.

11. A Note To The Viewers

12. Despite
progress,
lingering
institutional
challenges will not be overcome without a
deeper commitment to reform.

13. Although the perceived level of corruption has
declined, more effective anti-corruption
measures need to be firmly institutionalized.

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