Philippines: Rebuilding the economy

Strong GDP growth in 2013 and moderate slowdown expected in 2014. Recent volatile global financial conditions do not threaten the economy. Accelerating inflation but solid monetary policy framework.

Risk of an overheating economy exists but is contained. Public finances have improved over the past decade.

Current account will remain in surplus thanks to the strong inflows of remittances. External debt durden is manageable. Ample foreign exchange reserves.