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39th PBC Wilhelmina Manalac

39th PBC Wilhelmina Manalac

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39th Philippine Business Conference Wilhelmina Manalac Speech
39th Philippine Business Conference Wilhelmina Manalac Speech

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Categories:Types, Business/Law
Published by: Arangkada Philippines on Nov 04, 2013
Copyright:Attribution Non-commercial


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WILHELMINA C. MAÑALAC Managing Director, International Sub-Sector 39
 Philippine Business Conference and Expo
22 October 2013, Manila Hotel
Has the Philippines Gained from its Investment Grade Rating?
Outline of Presentation
A. Journey to Investment Grade Rating B. Significance of Investment Grade Rating C. Beyond Investment Grade D. Policy Thrusts
Key Macro Indicators 2007-2011 Ave 2012 2013
Sustained growth
Real GDP growth (2000=100)
4.7 6.6 7.5 (Q2)
Manageable inflation Headline inflation (2006=100)
4.8 3.2 2.8 (Jan-August)
Ample liquidity and credit supportive of economic activity Domestic Liquidity (% of GDP)
48.0 49.0 51.8 (Jan-June)
Domestic Credits* (% of GDP)
48.4 50.5 51.1 (June)
Sound and stable banking system Non-performing loans (% of total loans)
 UBs and UKBs
3.8 1.9 2.8 (May)
Capital Adequacy Ratio (consolidated basis)** - UBs and UKBs
16.3 18.4
Robust external profile
Current Account Balance (% of GDP)
4.0 2.8 4.2 (Jan-Jun)
GIR (in months of imports)
8.4 11.9 11.9 (end-Sep)
External debt (% of GDP)
31.7 24.1 21.8 (Jan-Jun)
External debt service burden (% of exports of goods, receipts of services & income)
9.8 7.4 8.3 (Jan-Jun)
Fiscal Performance
Deficit, in billion pesos (% of GDP)
-178.3 (-2.02%) -242.8 (-2.3%) -104.5 (Jan-July) (-0.9%)
At a glance: Philippines sustains economic improvements
*Computed using Net Domestic Credit (NDC) **Computation based on the combined reports of parent bank (head office and branches) and its subsidiaries engaged in financial undertakings but excluding insurance; also excludes trust department.

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