About Philippine

ECONOMY

Overview:
Due to the combined effect of the Asian financial crisis and poor weather conditions, GDP growth in 1998 fell to about-0.5% from 5% in 1997, but recovered to about 3% in 1999 and 3.6% in 2000. Upon assuming office, President Arroyo and her Economic Team put in place an economic plan to ensure that the economy is on track for equitable development and sustainable growth. The Philippine Economic Plan comprises a comprehensive set of fiscal discipline measures and market reforms linked to clear targets. This plan recognizes that a stable macroeconomic environment is a pre-requisite to stimulating investment and sustainable growth. It integrates a well-coordinated set of strategic fiscal and monetary policy priorities that support a sound fiscal and debt position, low rates and inflation, and healthy current account levels. It also outlines guidelines related to good governance practices that ensure that reforms are effective and long lasting. From the first quarter of 2005 with a GDP of 4.2%, it ended the year 2006 with a GDP of 5.4%. more info (http://www.neda.gov.ph/)

Source: http://www.gov.ph/aboutphil/general.asp
Quick glance of Economy statistic: http://www.geocities.com/ph_info/profile/index.htm