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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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11/04/2013

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WILHELMINA C. MAÑALAC Managing Director, International Sub-Sector 39
th
 Philippine Business Conference and Expo
22 October 2013, Manila Hotel
Has the Philippines Gained from its Investment Grade Rating?
 
2
Outline of Presentation
A. Journey to Investment Grade Rating B. Significance of Investment Grade Rating C. Beyond Investment Grade D. Policy Thrusts
 
3
Key Macro Indicators 2007-2011 Ave 2012 2013
Sustained growth
momentum
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
 
n.a.
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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