PHILIPPINE ECONOMY POSTS 5.

2 PERCENT GDP GROWTH

The domestic economy grew by 5.2

percent in the first quarter of 2015
from 5.6 percent the previous year.
The main driver of GDP growth for the
quarter was the Services Sector which
grew by 5.6 percent from 6.8 percent.
Industry, on the other hand,
accelerated to 5.5 percent from 5.4
percent posted last year. Similarly,
the Agriculture sector accelerated to
1.6 percent from 0.6 percent.
Among the three major economic sectors, Services gave the highest
contribution to the GDP growth in the first quarter of 2015 contributing 3.1
percentage points followed by Industry 1.9 percentage points, and the whole
Agriculture sector 0.2 percentage point.
Net Primary Income from the Rest of the World grew by 2.7 percent from 11.1
percent in the first quarter of 2014. This, together with the GDP performance,
resulted to GNI’s growth of 4.7 percent from 6.6 percent in the first quarter of
2014.
With the country’s projected population reaching 100.9 million in the first
quarter of 2015, per capita GDP grew by 3.4 percent from 3.8 percent while per
capita GNI and per capita Household Final Consumption Expenditure (HFCE)
grew by 3.0 percent and 3.6 percent from 4.8 percent and 4.3 percent,
respectively.

SOURCE:
http://nscb.gov.ph/sna/2015/1st2015/2015qpr1.asp#sthash.FLe5rKMx.dpuf
 Statistics

PUBLIC FINANCE More resources

National Government Cash Budget

1996 to 2013
(In million pesos)

Item 2013 2012 2011 2010 2009 2008 2007

Revenues 1,716,093 1,534,932 1,359,942 1,207,926 1,123,211 1,202,905 1,136,560
Expenditures 1,880,155 1,777,759 1,557,696 1,522,384 1,421,743 1,271,022 1,149,001
Surplus (Deficit) (164,062) (242,827) (197,754) (314,458) (298,532) (68,117) (12,441)

Item 2006 2005 2004 2003 2002 2001

Revenues 882,435 795,707 699,768 626,630 567,293 563,732
Expenditures 940,755 942,235 886,825 826,493 779,976 710,755
Surplus (Deficit) (58,320) (146,528) (187,057) (199,863) (212,683) (147,023)

Item 2000 1999 1998 1997 1996

Revenues 514,762 478,502 462,515 471,843 410,449
Expenditures 648,974 590,160 512,496 470,279 404,193
Surplus (Deficit) (134,212) (111,658) (49,981) 1,564 6,256

Source: Bureau of the Treasury.

Required:

1. Evaluate what happened from 1996-2013.

2. How does it affect the economy?