The Philippine economy in 2015 and Prospects for 2016

Abstract

PIDS Senior Research Fellow Roehlano Briones provides an assessment of the Philippine economy in 2015 and outlook for the current year in this first issue of the DRN for 2016. Amid global and regional challenges, such as the economic slowdown in big Asian economies and the sharp drop in oil prices, Briones underscores the country's resiliency as exemplified by sustained economic growth, improved capital formation, and sound fiscal balance. The lack of inclusiveness, however, remains a major issue that cannot be solved overnight. But our macroeconomic fundamentals have remained strong despite various risks and shocks. Briones asserts these are attributable to good governance that has facilitated and supported economic reforms. As the country undergoes another critical juncture, one could not help but feel anxious of what the country will become after May 2016. This issue also features three of the Institute's recently completed studies/projects and some of their main findings and policy recommendations. These research studies/projects include the competitiveness and key reform areas in the rice and bus transport sectors, evaluation of the National Greening Program, and amendment of the personal income tax law.