The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
International Monetary Fund. Asia and Pacific Dept
INTERNATIONAL MONETARY FUND
The Philippine economy has performed well and is in a favorable position to address its socioeconomic challenges. Sound policies have delivered solid growth, low inflation, financial stability, and external and fiscal buffers. However, poverty remains high and the country needs to create jobs for its young and growing population. Sustaining the growth momentum in an uncertain and volatile external environment requires tackling the constraints to inclusive growth, while protecting policy anchors, adapting policies to changing conditions, and maintaining vigilance against risks, including from high credit growth, loan concentration, and overheating.