Philippines - Current economic position and prospects (Vol. 2 of 2) : Special annexes

R ESITR I_C_T E D EAP7 Vol. 2 This report was prepared for use within the Bank and its affiliated oraanizations. They do not accept responsibility for its accuracy or completeness. The report may not be published nor may it be quoted as representing their views. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL DEVELOPMENT ASSOCIATION CURRENT ECONOMIC POSITION AND PROSPECTS OF THE PHILIPPINES (in two volumes) VOLUME II (SPECIAL ANNEXES) July 24, 1969 East Asia and Pacific Department  CURRENCY EQUIVALENTS US$ 1.00 Pesos 3.90 Pesos 1, 000 US$ 256.40 Pesos 1, 000, 000 US$ 256, 400 FISCAL YEAR In the Philippines the Fiscal Year covers the period July 1 to June 30.  This report was prepared by a mission which visited the Philippines from April 7 to May 7, 1969. The mission consisted of Bilsel Alisbah, Chief; Per Eklund, Fiscal and Financial Matters; Owen T. W. Price, Agriculture; Dieter Elz (part-time), Commodities; William Hughes (part-time), Transportation; Miss Hayley J. Goris, Social Sectors. Mr. Rogelio G. David assisted in the pre- paration of the statistical tables.   BASIC DATA Total Cultivated as % of Total Area: (in square miles) 113=T 37.7 (1967) Total PDensity Population: (1968) 359Y--il1ion i/T12per sq. mile Rate oI growth (1948-1960): 3.2% p 2a/ (1967-1960): 3.5% p.a.- Political Status: Member of the UN, SEATO, ASEAN. Gross National Product (1968 estimate): 28,109 million pesos. Real rate of growth (1962-6o): 5.6% per annum. (196d): 6.3% Per capita GNP (1968): $201 Net Domestic Product at Factor Cost (1967)3/- 21,508 million pesos of which, in percent: Agriculture 33 Manufacturing 20 Construction 4 Transport and Communication 4 Public Administration, Defense 9 Mining 2 Other economic sectors 28 Percent of GNP at Market Prices- : Annual Average 1962- 66 1967 Gross domestic capital fornation 21.4 21.7 Total savings 23.3 20.4 Balance of payments current accoun!,4/deficit (surplus -)- -1.9 1.5 Investment income payment 0.8 1.4 Government current revenue 9.1 9.2 Resources Gap as % of Investment/i: - 6.8 Money and Credit: Conversion: 1 Peso = $1.256 1 Dollar = P3.90 Average Decemb- Annual Change (In million pesos) 196o 1962-1967 Total Money Supply 3,982 8.6 Time and Savings Deposits 4,532 17.7 Bank Credit to Public Soctor (net) 3,111 23.0 Bank Credit to Private Sector (net) 2,722 10.4 itate of Change in Prices- (;) 2.9 5.1 1/ Estimates. 7/ Based on two most recent censuses, the only years for which reliable population statistics are available. 3/ Based on revised official estimates. 4/ Derived from Balance of Payments data.