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Philippines - Consultative group meeting : summary report (English)

The 2007 Philippines Development Forum (PDF) was held in Cebu, Philippines from March 8 to 9, 2007. As in past PDFs, the Government of the Philippines, led by the Department of Finance, organized and chaired the 2007 PDF and the World Bank co-chaired. The overall theme of the 2007 PDF was "Achieving Broad-Based Growth through Sustained Reforms and Higher Investments." The four break-out sessions were organized along the following themes: achieving broad-based growth; sustaining fiscal progress; enhancing competitiveness; and nurturing regional and local growth. At the plenary session, Government laid out significant plans to address three challenges: first, an overall investment rate in the Philippines, which, at percent of GDP, represents an extraordinarily low level, raising questions about sustainability and achievability of higher growth; second, unemployment and poverty that remain high despite growth; and third, growth whose benefits are not yet sufficiently shared across sectors, regions and communities. At the break-out sessions, the participants discussed specific actions needed to respond to these challenges, while the closing remarks addressed fiscal reforms and financial improvements.

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Philippines - Consultative group meeting : summary report (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/419531468293704453/Philippines-Consultative-group-meeting-summary-report