Compare Philippines (2007) - Philippines (2008)

Compare Philippines (2007) z Philippines (2008)

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	Philippines (2007)	Philippines (2008)

Budget	revenues: $19.07 billion expenditures: $20.29 billion (2006 est.)	revenues: $23.96 billion expenditures: $25.24 billion (2007 est.)
Debt - external	$62.44 billion (2006 est.)	$62.84 billion (31 December 2007 est.)
Economic aid - recipient	ODA, $561.8 million in commitments (2005)	ODA, $451.4 million in commitments (2006)
Economy - overview	The Philippines was less severely affected by the Asian financial crisis of 1998 than its neighbors, aided in part by its high level of annual remittances from overseas workers, no sustained runup in asset prices, and more moderate debt, prior to the crisis. From a 0.6% decline in 1998, GDP expanded by 2.4% in 1999, and 4.4% in 2000, but slowed to 3.2% in 2001 in the context of a global economic slowdown, an export slump, and political and security concerns. Average GDP growth accelerated to about 5% between 2002 and 2006 reflecting the continued resilience of the service sector, and improved exports and agricultural output. Nonetheless, it will take a higher, sustained growth path to make appreciable progress in the alleviation of poverty given the Philippines' high annual population growth rate and unequal distribution of income. The Philippines also faces higher oil prices, higher interest rates on its dollar borrowings, and higher inflation. Fiscal constraints limit Manila's ability to finance infrastructure and social spending. The Philippines' consistently large budget deficit has produced a high debt level, and this situation has forced Manila to spend a large portion of the national government budget on debt service. Large unprofitable public enterprises, especially in the energy sector, contribute to the government's debt because of slow progress on privatization. Credit rating agencies have at times expressed concern about the Philippines' ability to service the debt, though central bank reserves appear adequate and large remittance inflows appear stable. The implementation of the expanded Value Added Tax (VAT) in November 2005 boosted confidence in the government's fiscal capacity and helped to strengthen the peso, making it East Asia's best performing currency in 2005-06. Investors and credit rating institutions will continue to look for effective implementation of the new VAT and continued improvement in the government's overall fiscal capacity in the coming year.	The Philippine economy grew at its fastest pace in three decades with real GDP growth exceeding 7% in 2007. Higher government spending contributed to the growth, but a resilient service sector and large remittances from the millions of Filipinos who work abroad have played an increasingly important role. Economic growth has averaged 5% since President MACAPAGAL-ARROYO took office in 2001. Nevertheless, the Philippines will need still higher, sustained growth to make progress in alleviating poverty, given its high population growth and unequal distribution of income. MACAPAGAL-ARROYO averted a fiscal crisis by pushing for new revenue measures and, until recently, tightening expenditures. Declining fiscal deficits, tapering debt and debt service ratios, as well as recent efforts to increase spending on infrastructure and social services have heightened optimism over Philippine economic prospects. Although the general macroeconomic outlook has improved significantly, the Philippines continues to face important challenges and must maintain the reform momentum in order to catch up with regional competitors, improve employment opportunities, and alleviate poverty. Longer-term fiscal stability will require more sustainable revenue sources, rather than non-recurring revenues from privatization.
Exchange rates	Philippine pesos per US dollar - 51.246 (2006), 55.086 (2005), 56.04 (2004), 54.203 (2003), 51.604 (2002)	Philippine pesos per US dollar - 46.148 (2007), 51.246 (2006), 55.086 (2005), 56.04 (2004), 54.203 (2003)
GDP - composition by sector	agriculture: 14.1% industry: 31.6% services: 54.2% (2006 est.)	agriculture: 14.1% industry: 31.3% services: 54.6% (2007 est.)
GDP - real growth rate	5.4% (2006 est.)	7.3% (2007 est.)
Household income or consumption by percentage share	lowest 10%: 2.2% highest 10%: 34.2% (2003)	lowest 10%: 2.4% highest 10%: 31.2% (2006)
Industrial production growth rate	4.8% (2006 est.)	7% (2007 est.)
Inflation rate (consumer prices)	6.3% (2006 est.)	2.8% (2007 est.)
International organization participation	APEC, APT, ARF, AsDB, ASEAN, BIS, CP, EAS, FAO, G-24, G-77, IAEA, IBRD, ICAO, ICC, ICCt (signatory), ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MINUSTAH, NAM, OAS (observer), ONUB, OPCW, PIF (partner), UN, UNCTAD, UNESCO, UNHCR, UNIDO, Union Latina, UNMIL, UNMIS, UNOCI, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO	ADB, APEC, APT, ARF, ASEAN, BIS, CP, EAS, FAO, G-24, G-77, IAEA, IBRD, ICAO, ICC, ICCt (signatory), ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, MIGA, MINUSTAH, NAM, OAS (observer), OPCW, PIF (partner), UN, UNCTAD, UNESCO, UNHCR, UNIDO, Union Latina, UNMIL, UNMIS, UNMIT, UNOCI, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO
Labor force	35.79 million (2006 est.)	36.22 million (2007 est.)
Labor force - by occupation	agriculture: 36% industry: 15% services: 49% (2004 est.)	agriculture: 35% industry: 15% services: 50% (2007 est.)
Legislative branch	bicameral Congress or Kongreso consists of the Senate or Senado (24 seats - one-half elected every three years; members elected at large by popular vote to serve six-year terms) and the House of Representatives or Kapulungan Ng Mga Kinatawan (as a result of May 2007 election it has 237 seats including 218 members representing districts and 19 sectoral party-list members representing special minorities elected on the basis of 1 seat for every 2% of the total vote but limited to 3 seats; members elected by popular vote to serve three-year terms; note - the Constitution prohibits the House of Representatives from having more than 250 members) elections: Senate - last held on 14 May 2007 (next to be held in May 2010); House of Representatives - elections last held on 14 May 2007 (next to be held in May 2010) election results: Senate - percent of vote by party - NA; seats by party - Nacionalista 4, LP 4, Lakas 3, GO 3, independent 1, others 8; note - there are 23 rather than 24 sitting senators because one senator was elected mayor of Manila; House of Representatives - percent of vote by party - NA; seats by party - Lakas 86, Kampi 41, NPC 27, LP 21, others 62	bicameral Congress or Kongreso consists of the Senate or Senado (24 seats - one-half elected every three years; members elected at large by popular vote to serve six-year terms) and the House of Representatives or Kapulungan Ng Mga Kinatawan (as a result of May 2007 election it has 239 seats including 218 members representing districts and 21 sectoral party-list members representing special minorities elected on the basis of 1 seat for every 2% of the total vote but limited to 3 seats; members elected by popular vote to serve three-year terms; note - the Constitution prohibits the House of Representatives from having more than 250 members) elections: Senate - last held on 14 May 2007 (next to be held in May 2010); House of Representatives - elections last held on 14 May 2007 (next to be held in May 2010) election results: Senate - percent of vote by party - NA; seats by party - Lakas-Kampi 4, LP 4, NPC 3, NP 2, independents 4, others 6; note - there are 23 rather than 24 sitting senators because one senator was elected mayor of Manila; House of Representatives - percent of vote by party - NA; seats by party - Lakas 86, Kampi 46, NPC 29, LP 21, Party-list 21, others 36
Military branches	Armed Forces of the Philippines (AFP): Army, Navy (includes Marine Corps), Philippine Air Force (Hukbomg Himpapawid ng Pilipinas) (2006)	Armed Forces of the Philippines (AFP): Army, Navy (includes Marine Corps), Philippine Air Force (Hukbomg Himpapawid ng Pilipinas) (2008)
Pipelines	gas 565 km; oil 135 km; refined products 105 km (2006)	gas 565 km; oil 135 km; refined products 105 km (2007)
Political parties and leaders	Genuine Opposition or GO (coalition of oppositon parties formed to contest the 2007 elections); Kabalikat Ng Malayang Pilipino or Kampi [Ronaldo PUNO]; Laban Ng Demokratikong Pilipino (Struggle of Filipino Democrats) or LDP [Edgardo ANGARA]; Lakas Ng Edsa (National Union of Christian Democrats) or Lakas [Jose DE VENECIA]; Liberal Party or LP [Manuel ROXAS/Eli QUINTO]; Nacionalista [Manuel VILLAR]; National People's Coalition or NPC [Frisco SAN JUAN]; PDP-Laban [Aquilino PIMENTEL]; People's Reform Party [Miriam Defensor SANTIAGO]; PROMDI [Emilio OSMENA]; Pwersa Ng Masang Pilipino (Party of the Philippine Masses) or PMP [Joseph ESTRADA]; Reporma [Renato DE VILLA]	Genuine Opposition or GO (coalition of oppositon parties formed to contest the 2007 elections); Kabalikat Ng Malayang Pilipino or Kampi [Ronaldo PUNO]; Laban Ng Demokratikong Pilipino (Struggle of Filipino Democrats) or LDP [Edgardo ANGARA]; Lakas Ng Edsa (National Union of Christian Democrats) or Lakas [Jose DE VENECIA]; Liberal Party or LP [Manuel ROXAS]; Nacionalista [Manuel VILLAR]; National People's Coalition or NPC [Frisco SAN JUAN]; PDP-Laban [Aquilino PIMENTEL]; People's Reform Party [Miriam Defensor SANTIAGO]; PROMDI [Emilio OSMENA]; Pwersa Ng Masang Pilipino (Party of the Philippine Masses) or PMP [Joseph ESTRADA]; Reporma [Renato DE VILLA]
Political pressure groups and leaders	AKBAYAN [Etta ROSALES, Mario AGUJA, and Risa HONTIVEROS-BARAQUIEL]; ALAGAD [Rodante MARROLITA]; ALIF [Acmad TOMAWIS]; An Waray [Horencio NOEL]; Anak Mindanao [Mujiv HATAMIN]; ANAKPAWIS [Crispin BELTRAN and Rafael MARIANO]; APEC [Ernesto PABLO, Edgar VALDEZ]; Association of Philippine Electric Cooperatives (APEC) [Edgar VALDEZ, Ernesto PABLO, and Sunny Rose MADAMBA]; AVE [Eulogio MAGSAYSAY]; Bayan Muna [Satur OCAMPO, Joel VIRADOR, and Teodoro CASINO, Jr.]; BUHAY [Rene VELARDE and Hans Christian SENERES]; BUTIL [Benjamin CRUZ]; CIBAC [Emmanuel Joel VILLANUEVA]; COOP-NATCO [Guillermo CUA]; GABRIELA [Liza MAZA]; Partido Ng Manggagawa [Renato MAGTUBO]; Veterans Federation of the Philippines [Ernesto GIDAYA]	AKBAYAN [Etta ROSALES, Mario AGUJA, and Risa HONTIVEROS-BARAQUIEL]; ALAGAD [Rodante MARROLITA]; ALIF [Acmad TOMAWIS]; An Waray [Horencio NOEL]; Anak Mindanao [Mujiv HATAMIN]; ANAKPAWIS [Crispin BELTRAN and Rafael MARIANO]; Association of Philippine Electric Cooperatives (APEC) [Sunny Rose MADAMBA, Ernesto PABLO, and Edgar VALDEZ]; AVE [Eulogio MAGSAYSAY]; Bayan Muna [Satur OCAMPO, Joel VIRADOR, and Teodoro CASINO, Jr.]; BUHAY [Rene VELARDE and Hans Christian SENERES]; BUTIL [Benjamin CRUZ]; CIBAC [Emmanuel Joel VILLANUEVA]; COOP-NATCO [Guillermo CUA]; GABRIELA [Liza MAZA]; Partido Ng Manggagawa [Renato MAGTUBO]; Veterans Federation of the Philippines [Ernesto GIDAYA]
Population below poverty line	40% (2001 est.)	30% (2003 est.)
Radio broadcast stations	AM 375, FM 596, shortwave 4 (each shortwave station operates on multiple frequencies in the language of the target audience) (2006)	AM 381, FM 628, shortwave 4 (each shortwave station operates on multiple frequencies in the language of the target audience) (2007)
Telephone system	general assessment: good international radiotelephone and submarine cable services; domestic and inter-island service adequate domestic: domestic satellite system with 11 earth stations; cellular communications now dominate the industry with roughly 10 mobile cellular subscribers for every fixed-line subscriber international: country code - 63; 11 international gateways; submarine cables to Hong Kong, Guam, Singapore, Taiwan, Japan, Brunei, and Malaysia among others (2006)	general assessment: good international radiotelephone and submarine cable services; domestic and inter-island service adequate domestic: domestic satellite system with 11 earth stations; cellular communications now dominate the industry; combined fixed-line and mobile-cellular telephone density exceeds 50 telephones per 100 persons with more than 10 mobile cellular subscribers for every fixed-line subscriber international: country code - 63; a series of submarine cables together provide connectivity to Asia, US, the Middle East, and Europe; multiple international gateways (2006)
Television broadcast stations	233 (plus 1,480 CATV networks) (2006)	250 (plus 1,501 CATV networks) (2007)
Unemployment rate	7.9% (2006 est.)	7.3% (2007 est.)

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