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Philippines: 2007 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Authorities of the Executive Director for the Philippines

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  • International Monetary Fund

Abstract

Economic stability of the Philippines was discussed in this report. Private investment remained low by regional standards, but there are tentative signs of a revival. These developments and favorable global conditions led to a surge in foreign exchange inflows and the external value of the peso. Inflation remained low because of an appreciating peso and prudent monetary policy. The authorities are encouraged to strengthen the tax effort. Legislation is being considered to restore the tax base by rationalizing fiscal incentives and adjusting excise taxes.

Suggested Citation

  • International Monetary Fund, 2008. "Philippines: 2007 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Authorities of the Executive Director for the Philippines," IMF Staff Country Reports 2008/119, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2008/119
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    Cited by:

    1. Pantea Vaziri & Rachel Davidson & Linda Nozick & Mahmood Hosseini, 2010. "Resource allocation for regional earthquake risk mitigation: a case study of Tehran, Iran," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 53(3), pages 527-546, June.

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