Philippines – Preserving economic stability, financing development and anticipating climate issues

Referred to as the “sick man of Asia” during the last third of the 20th century, the Philippines has recorded dynamic economic growth since the mid-2000s and is beginning to catch up with the more advanced economies of ASEAN (Association of Southeast Asian Nations). This catching-up has come about through macroeconomic stability, combining fiscal discipline external accounts consolidation, and financial system strengthening. To preserve the Philippine economic model, it is essential to maintain this stability, in particular to limit financing requirements and bolster investor and consumer confidence.