8/22/2019 Ph-macroeconomic and Credit Indicators

1/4

2006 2007 2008 2009 2010 2011F 8-Jun 2Q08 8-Jul

Macroeconomic Indicators

Real GDP (YOY%) 5.3 7.1 3.8 0.9 7.3 7.5 4.2

CPI Inflation (YOY%) 6.2 2.8 9.3 3.2 3.8 4 11.4 12.3

Worker's Remittances (YOY%) 19.4 13.2 13.7 5.6 8.2 30 24.6Exports (YOY%) 15.6 6.4 -2.5 33.7 8.8 4.4

Imports (YOY%) 10.9 8.7 5.6 26.9 12.7 16

FX Rate (PHP/USD) - End Period 49.01 41.25 47.52 47.8 43.8 44.96 44.17

Base Money (M1) (YOY%) 24.7 15.2 20.9 14.1 10.6 8 8.9

Broad Money (M3) (YOY%) 22.7 10.6 15.6 8.3 10.6 5.1 4.1

Balance of Payments (USD billion)

Current Account (CA) 5.3 7.1 3.6 8.6 0.2 -0.5

CA (%GDP) 4.5 4.9 2.2 5.3 2

Foreign Direct Investment (FDI), Net 2.9 2.9 1.4 1.3 0.1 0.3

Net FDI (% GDP) 2.4 1.8 0.9 0.8 0.3

Portfolio Investment, Net 3 4.6 -3.8 1.4 -1.2 -0.7

External Debt 53.4 54.9 53.9 53.3 54.8

International Reserves (Excluding Gold) 20 30.2 33.2 36 55.4 32.7 33

Govt Credit Indicators

O/N Borrowing Rate (%) 7.5 6.5 5.5 4.31 4 5.75 5.5

10-year Govt Bond Rate (%) 8.55 7.15 8.3 7.99 6.1 9.43 9.66

Fiscal Balance (USD billion) -0.9 -0.6 -4.3 -6.2 -6.9 -6.3 0 -0.3

Fiscal Balance (% GDP) -1.1 -0.2 -0.9 -3.9 -3.7 -3.2

Total LCY Bonds (USD billion) 46.5 58 56.9 63.2 72.8

Government 45 54.5 52.4 55.5 64.3Treasury Bills 13.5 14.9 16.3 13.5 12 16.5 17.4

Treasury Bonds 30 37.9 34.4 39.9 49.3 34.3 35

Others 1.5 1.7 1.8 2.2 3 1.8 1.8

Corporate 1.4 3.5 4.5 7.6 8.4 4.1 4.1

FCY Govt Bonds (USD billion) 20.9 21.8 21.4 23.9 21.5

Other Govt FCY Debt (USD billion) 13.8 14.9 16.7 17.9 15.5

DISCLAIMER:

The ADB provides no warranty or undertaking of any kind in respect to the information and materials found on

Views expressed in articles marked with AsianBondsOnline are those of the authors, and not ADB. This disclai

8/22/2019 Ph-macroeconomic and Credit Indicators

2/4

8-Aug 8-Sep 3Q08 8-Oct 8-Nov 8-Dec 4Q08 9-Jan 9-Feb 9-Mar 1Q09 9-Apr 9-May 9-Jun 2Q09

4.6 2.9 0.6 0.8

12.4 11.8 11.2 9.9 8 7.1 7.3 6.4 4.8 3.3 1.5

10.4 16.9 3.3 10.5 0.8 0.1 4.9 3.1 2.2 3.7 3.36.6 1.1 -14.8 -11.4 -40.3 -40.6 -39 -30.7 -35.2 -26.9 -24.5

1.1 2.5 -11.1 -31.5 -34.2 -34.5 -31.9 -36.2 -37.4 -24.1 -22.6

45.93 47.05 48.93 48.93 47.52 47.38 48.8 48.33 48.35 47.38 48.14

12.6 17.9 18.2 21.3 20.9 23.9 23.8 19.3 19.8 19.4 18.1

9.8 13.5 13.1 14.6 15.6 16.1 14.6 15.6 13.7 15.1 12.6

-0.2 0.1 0.6 0.6 1 0.3 1 0.6 0.8 0.8 0.6

-1.3 5.3 5.1 5.6

0.1 0.2 -0.1 0.1 0 0.4 0.2 -0.3 0.6 0.4 -0.1

0.6 0 0.2 0.6

-0.2 -0.2 -0.7 -1.1 -0.3 1.4 -0.9 -1.2 -0.4 0.7 -0.3

53.5 54.3 52.5 51.8

33.2 32.8 32.4 32.4 33.2 34.7 34.2 34.5 34.9 34.7 34.8

5.25 5 5 5 5.25 5.75 6 6 6 5.5 5

8.06 8.14 9.48 9.45 7.44 7.49 8.08 8.16 8.13 7.95 8.11

0 -0.5 -0.2 -0.1 0 -0.8 -0.6 -1.1 0.2 -0.2 -0.6

56.7 56.6 53.2 55.9 57.4 58.8 57.3

52.2 52 48.6 51 51.6 52.7 51.116.7 16.2 15.4 15.6 16.2 15.7 14.9 15.9 15.6 15.4 14.1

34.1 33.7 32.7 33 34.3 34.5 31.9 33.4 34.1 35.4 35.1

1.7 1.8 1.7 1.7 1.8 1.8 1.7 1.7 1.9 1.9 1.9

4.1 4 4.1 4.1 4.4 4.6 4.6 4.9 5.8 6.1 6.2

21.4 21.3 22.7 22.5 21.9 22.1 22.1 22

15.4 16.7 16.7 15.8 16.2 16.5 16.5 16.5

Macroeconomic and Credit Indicators

, or linked to, AsianBondsOnline. The ADB accepts no responsibility for the accuracy of the material posted or li

er does not derogate from, and is in addition to, the general terms and conditions regarding the use of the Asia

8/22/2019 Ph-macroeconomic and Credit Indicators

3/4

9-Jul 9-Aug 9-Sep 3Q09 9-Oct 9-Nov 9-Dec 4Q09 10-Jan 10-Feb 10-Mar 1Q10 10-Apr 10-May

0.8 2.1 7.8

0.2 0.1 0.7 1.6 2.8 4.4 4.3 4.2 4.4 4.4 4.3

9.3 2.8 8.6 6.7 11.3 11.4 8.5 7.1 5.6 5.4 6.5-25.4 -20.9 -18.1 -7.6 5.8 24.2 42.5 42.5 43.8 28.2 37.3

-31.2 -28.3 -24.5 -16.8 5 18.2 30.3 27.6 38.9 46 31.4

48.06 48.8 47.34 47.63 47.21 46.16 46.5 46.13 45.17 44.46 46.25

19.7 21 19.1 17.2 16.6 14.1 15.5 15.8 17 17.6 18.1

12.9 13.4 11.6 12.5 12 8.3 8.1 9.9 10.3 12.5 10.7

0.6 0.5 0.8 1.1 0.9 0.8 0.3 0.7 0.8 0.5 0.8

4.6 5.8 4.3

0.4 0 -0.1 0.1 0.1 0.2 0.2 0.3 0.1 0.1 0

0.2 0.2 0.2

0.5 -0.6 0.3 1 0 0.8 1 -0.5 -0.1 -0.6 0.1

53.1 54.9 57

35.3 36.7 37.5 37.9 38.5 38.8 40.2 40.2 39.6 40.6 41

4.75 4.5 4.25 4 4 4 4 4 4 4 4

8.01 7.98 8.03 7.95 7.93 8.11 8.09 7.98 8.04 8.11 8

-0.7 -0.5 -0.6 -0.6 -0.1 -0.6 -0.8 -0.7 -1.4 0.1 -0.7

-6.9

57.1 55.5 59.2 59.9 61.2 63.1 61.8 61.8 66.3 68.1 66.2

50.4 49 52.6 53.2 54.1 55.5 54.8 54.3 58.4 60 5813.5 12.6 12.8 13.4 13.2 13.5 11.1 11.6 12.8 13 12.4

35.1 34.5 38 37.8 38.8 39.8 40.9 40.3 43.1 43.6 42.7

1.9 1.8 1.9 2.1 2.2 2.2 2.8 2.4 2.5 3.4 2.8

6.7 6.5 6.6 6.7 7.1 7.6 6.9 7.5 7.9 8.1 8.1

22.7 22.8 23.3 23.8 23.7 23.8 25.2 24.4 24.8 24.8 24.7

16.5 16.7 16.9 17.6 18.2 17.9 18 18 17.7 17.6 17.9

- Republic of Philippines

ked to the publication, or the information contained therein, or for any consequences arising from its use and

nBondsOnline Web Site, which also apply.

8/22/2019 Ph-macroeconomic and Credit Indicators

4/4

10-Jun 2Q10 10-Jul 10-Aug 10-Sep 3Q10 10-Oct 10-Nov 10-Dec 4Q10 11-Jan 11-Feb

8.2 6.3 7.1

3.9 3.9 4 3.5 2.8 3 3 3.6 4.3

8.3 8.2 9.8 10.6 9.3 10.5 8.1 7.633.7 36 37 46.5 30.1 11.5 26.5 11.8

1.4 16.2 22 24.6 28.4 35.3 25.2

46.36 45.54 45.31 43.85 43.06 44.1 43.8 44.3 43.6

15.8 13.4 11.2 10.2 10.6 10.4 10.6 12.9

10.3 7.7 6.4 10 7.7 7.5 10.6 9.6

1.2 0.6 0.9 1.2

5.5 5.9

0.1 0.2 0.1 0.1

0.1

-1.2

57.3 59.8

41.8 42.4 42.8 46.4 50.3 53.7 55.4 57 57

4 4 4 4 4 4 4 4 4

7.93 7.6 6.94 6.23 5.96 6 6.1 7.2 7.41

-0.7 -0.7 0 -0.7 -0.2 0 -1

-4.9 -4.3 -3.7

66.3 68.3 70.8 72.6 74.1 72.5 72.8

58.2 59.9 62.3 63.8 65 63.9 64.312.2 12.8 13.5 13.2 12.8 12.3 12

43.1 44.2 45.9 47.6 49.1 48.6 49.3

2.8 2.9 2.9 3 3.1 3 3

8.1 8.4 8.4 8.7 9.1 8.6 8.4

24.8 25 24.8 26 26.8 26.7 26.7

18.1 18.5 18.5 18.8 19.2 18.7 18.9

does not invite or accept reliance being placed on any materials or information so provided.