Tax to GDP Ratio improves to 13.7% in first half of 2014 from 12.6% in first half of 2010

For the first half of 2014, the Philippines recorded a tax to GDP ratio of 13.7% of GDP, marking an increase from 13.6% in the first half (H1) of 2013 and 12.6% in H1 2010. The revenue to GDP ratio for the first half of 2014 was at 15.6%, likewise growing from 15.3% in H1 2013 and 13.8% in H1 2010. These sustained growths in revenues brought the fiscal deficit in the first six months of the year to 0.9%, well-within the program of 2.1%.

NEDA: PH Development Plan targets in industry, services, and financial sectors likely to be achieved

The National Economic and Development Authority (NEDA) is optimistic about the achievement of the Philippine Development Plan (PDP) targets for 2014 in the Industry and Services (I&S) sectors, based on the initial results of an ongoing assessment and validation conducted by the Planning Committee on Economic Development.

Inflation remains at 4.9 percent in August 2014, stays within government expectations

Headline inflation rate in August 2014 settled to 4.9 percent, the same as in July 2014, according to the National Economic and Development Authority (NEDA). Increases in the price of food and electricity pushed up inflation, while prices of other commodities remained relatively stable.

Statement: The PIDS President on media reports on COA findings

This is to clarify certain issues raised against the Philippine Institute for Development Studies (PIDS) in connection with the 2013 Annual Audit Report of the Commission on Audit (COA), and published in the newspapers and online news web sites today.

Salient points: Secretary Balisacan’s statement on the Q2 2014 performance of the PH economy

Economic growth accelerated to 6.4 percent in the second quarter of 2014. The PH remains the fastest growing economy among major Asian countries for the period, tying with Malaysia’s performance, and overtaking other major ASEAN countries such as Indonesia (5.1%) and Thailand (0.3%).

Statement: Secretary Balisacan on the 2014 2nd quarter performance of the Philippine economy

Sec. Balisacan: I am pleased to report to you that economic growth accelerated to 6.4 percent in the second quarter of 2014. This higher growth rate, coming from a high base a year ago shows that the economy is back on the higher trajectory of growth registered in 2012 and 2013 and bodes well for economic growth for the rest of 2014.

Philippine economy posts 6.4% GDP growth in the second quarter, 6% in the first half of 2014

Driven by the industry sector, the country’s gross domestic product (GDP) grew year-on-year by 6.4 percent in the second quarter of 2014, which is higher than the growth rate of 5.6 percent in the first quarter of 2014.

Statement of Secretary Balisacan at the presentation of the 2014 Human Development Report & 5th PHL Progress Report on MDGs Launch

Statement of Secretary of Socioeconomic Planning Arsenio Balisacan: At the presentaton of the 2014 Human Development Report and 5th Philippine Progress Report on the Millennium Development Goals Launch [As read by National Statistician Lisa Grace Bersales on August 20, 2014, at Crowne Plaza Manila Galleria] Mr. Maurice Dewulf, Country Director, United Nations Development Programme; Ms. Luiza Carvalho, […]