Rcl Equity Report

Report No. 83315-PH

PHILIPPINE ECONOMIC UPDATE

PURSUING INCLUSIVE GROWTH THROUGH

SUSTAINABLE RECONSTRUCTION AND JOB CREATION

March 2014

Poverty Reduction and Economic Management Unit

Philippine Country Office

East Asia and Pacific Region

Document of the World Bank

1

PREFACE

The Philippine Economic Update provides an update on key economic and social developments,

and policies over the past six months. It also presents findings from recent World Bank studies

on the Philippines. It places them in a longer term and global context, and assesses the

implications of these developments and policies on the outlook for the Philippines. Its coverage

ranges from the macro-economy and financial markets to indicators of human welfare and

development. It is intended for a wide audience, including policymakers, business leaders,

financial market participants, and the community of analysts and professionals engaged in the

Philippines.

The Philippine Economic Update is a report of the World Bank’s Philippine Poverty Reduction

and Economic Management (PREM) team. It was prepared by Karl Kendrick Chua (Senior

Country Economist and Task Team Leader), Paul Mariano (Research Analyst and Co-Task Team

Leader), Kai Kaiser (Senior Economist), Amelia Johnston (Economist), Joseph Louie Limkin

(Research Analyst), Kevin Cruz (Research Assistant), and Anthony Sabarillo (Junior Research

Assistant) under the guidance of Rogier van den Brink (Lead Economist). Secretarial and

publication support by Maria Consuelo Sy (Program Assistant) and Ayleen Ang (Team Assistant)

are gratefully acknowledged.

The sections on Typhoon Yolanda were contributed by a diverse group of individuals from the

Philippine Country Management Unit, the East Asia Poverty Reduction and Economic

Management Unit, Human Development Unit, and the Sustainable Development Unit. Special

thanks go to Catherine Vidar (Disaster Risk Management Specialist) for coordinating the World

Bank’s...