[Posted September 1, 2010]
Philippines Development Report 2009
Managing the Global Recession, Preparing for the Recovery
The 2009 Philippines Development Report (PDR) builds on its predecessors and looks to the unique economic, financial, social and political landscape shaping up in 2009 and 2010.
SUMMARY
As the global environment is beset by shocks of historical proportions, the 2009 report focuses on Managing the Global Recession, Preparing for the Recovery.
The 2009 report is structured around and aligned with the government’s 2004-2010 Medium-Term Philippine Development Plan (MTPDP). Key pillars of the MTPDP are fiscal stability and consolidation (aiming towards a balanced national government budget, a small non-financial public sector deficit, and reducing the public sector debt-to-GDP ratio), increased competitiveness through improved governance, better infrastructure, improved human capital (through improved service delivery in health and education).
However, as the global recession gathered momentum, the government’s goal for 2009 focused on a fiscal stimulus package (the Economic Resiliency Plan—ERP). The ERP called for a postponement of some MTPDP targets so as to achieve three overarching objectives, namely:
Maintaining macro-economic stability
Ensuring social protection for the poorest and most affected citizens
Preparing the economy for the recovery
The 2009 Philippines Development Report is itself structured along these three overarching objectives.
Permanent URL for this page: http://go.worldbank.org/NLKKODS860
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