Abstract:

Overview.

Economic growth in 2002 rose to its highest level since the Asian crisis, with real GNP and GDP growth rates reaching 5.2 percent and 4.6 percent, respectively, aided by an acceleration of growth at the end of the year: growth rates in the fourth quarter exhibited their strongest pace in six years with GNP growth topping 7 percent. This performance was anchored on stronger consumer demand and worker remittances, a moderate recovery in exports and favorable rains that boosted agricultural production in the final quarter. And it occurred despite sluggish investment, continued weakness in financial markets and heightened conflict in Mindanao.

Info

Source Institution	World Bank
Source URL	http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/08/31/090224b0828a32fc/1_0/Rendered/PDF/Philippines0000l0management0review0.pdf
Page Count	221
Place of Publication	Pasig City
Original Publication Date	April 30, 2003
Tags	Efficiency, FINANCIAL MANAGEMENT, Government, Monthly Report, Performance, Public, Resources, Review