Table A.1
MACROECONOMIC PARAMETERS, 2008-2012
Particulars
Nominal Gross National Product (GNP)
(in PhP Million)
Budget Assumption
Real GNP Growth (%)
Budget Assumption
2/
2010
9,776,185
10,652,466
11,996,077
low
high
2/
Nominal Gross Domestic Product (GDP)
(in PhP Million)
Budget Assumption
2008
Actual Levels
2009
5.0
2/
7,720,903
6.1
8,026,143
Projections/Targets 1/
2011
2012
13,316,414
13,436,098
14,861,917
15,125,729
5.4-6.3
5.8-6.8
9,932,508
10,023,164
11,011,181
11,207,831
5.0-6.0
7.0-8.0
5.5-6.5
7.0-8.0
8.2
9,003,480
low
high
Real GDP Growth (%) 2/
Budget Assumption
Target
4.2
Inflation Rate, CPI (2000=100)
9.3
3.2
3.8
3.0-5.0
3.0-5.0
Population (in Millions) 3/
Growth Rate (%)
90.5
2.0
92.2
2.0
94.0
1.9
95.8
1.9
97.6
1.9
364-Day Treasury Bill Rate (%)4/
6.5
4.6
4.3
3.0-5.0
3.0-5.0
Foreign Exchange Rate (PhP/US$)
44.47
47.64
45.11
42.0-45.0
42.0-45.0
London Interbank Offered Rate (LIBOR), 6-Months, (%)
3.04
1.12
0.52
0.5-1.5
0.5-1.5
Dubai Crude Oil Price (US$/barrel)
93.56
61.69
78.04
90.0-115.0
90.0-110.0
Exports of Goods 5/
Level (in US$ Million)
Growth Rate (%)
48,253 /r
(2.5) /r
37,610 /r
(22.1) /r
50,684
34.8
55,300-55,800
9.0-10.0
62,500
12.0
Imports of Goods 5/
Level (in US$ Million)
Growth Rate (%)
61,138 /r
5.6 /r
46,452 /r
(24.0) /r
61,068
31.5
71,500-72,100
17.0-18.0
85,100
18.0
Current Account Balance 5/
Level (in US$ Billion)
Percent of GDP
3.63
2.2
9.36 /r
5.8
8.47
4.5
5.6
2.6
n/a
n/a
Gross International Reserves (Year-End)
Level (in US$ Billion)
Equivalent Months of Imports
37.6
6.0
44.2
8.7
62.4
9.6
70.0
9.3
n/a
n/a
1.1
7.6
Sources: NEDA, Bangko Sentral ng Pilipinas (BSP)
Note: Rates for inflation, 364-day Treasury Bill, foreign exchange, LIBOR, as well as Dubai Oil Price refer to annual averages.
1/ Assumptions adopted by the Development Budget Coordination Committee (DBCC) on July 4, 2011
2/ Actual levels and growth rates were adjusted due to the change in base year from 1985 to 2000.
3/ Population figures are projections based on the 2000 Population Census, medium assumptions.
4/ The DBCC, in its decision dated February 11, 2011, approved the shift from the 91-day T-bill rate to the 364-day T-bill rate.
5/ Levels adopt the IMF's Balance of Payments (BOP) Manual 5 (BPM5) concept.
/r Revised as of September 2010