P H I L I P P I N E S	P H I L I P P I N E S
	SELECTED ECONOMIC AND FINANCIAL INDICATORS
	I t e m				1998	1999	2000	2001	2002	2003	2004	2005		2005		2006
II.	PRICES
	A. (1994=100)
	1. CPI, Philippines (all items, ave. % change)				9.7	6.7	4.4	6.1	3.0	3.0	5.5	5.5	r/	3.0		5.5
	of which:  Food, Beverages and Tobacco				8.8	5.2	2.0	4.1	2.0	2.0	5.6	5.6		2.0		5.6
	Non-Food				10.8	8.4	6.9	8.5	4.3	4.2	5.4	5.4	r/	4.1		5.4
	2. CPI, NCR (all items, ave % change)				10.0	5.5	4.6	7.2	3.8	3.8	5.5	5.5	r/	3.2		5.5
	3. CPI, AONCR  (all items, ave. % change)				9.6	7.2	4.2	5.7	2.9	2.7	5.5	5.5		2.7		5.5
	4. Purchasing Power of the Peso				0.73	0.69	0.66	0.62	0.60	0.58	0.55	0.55		0.58		0.55
	A. Headline Inflation (2000=100)													January - June
	1. CPI, Philippines (all items, ave. % change)				9.3	5.9	4.0	6.8	3.0	3.5	6.0	7.6		8.3		7.1
	of which:  Food, Beverages and Tobacco				8.0	4.6	1.6	4.7	2.3	2.2	6.2	6.4	r	7.1		6.0
	Non-Food				10.5	7.6	6.4	8.8	3.8	4.6	5.8	8.7		9.4		8.1
	2. CPI, NCR (all items, ave % change)				10.3	4.9	4.6	7.1	3.2	3.6	5.8	8.6		8.7		8.0
	3. CPI, AONCR  (all items, ave. % change)				8.9	6.3	3.7	6.6	3.0	3.4	6.1	7.2		8.2		6.7
	4. Purchasing Power of the Peso				1.10	1.04	1.00	0.94	0.91	0.88	0.83	0.77		0.78		0.73
	B. Core Inflation (2000=100)				9.30	6.3	4.0	7.4	3.5	3.4	5.7	7.0		7.8		6.2
														January - May
	C. GDP Deflator (% Change)				11.0	8.0	6.3	6.4	4.5	3.6	6.0	6.2		6.6		6.1
III.	MONEY AND INTEREST RATES													2004		2005
	A. Money (End-of-Period)													May
	1.  Money Supply (M1, P B)  7				281.5	394.1	387.0	388.0	470.1	510.3	556.4	605.3	p	556.5		622.4	p
	(% Change)				9.0	40.0	-1.8	0.3	21.2	8.6	9.0	8.8		9.7		11.8
	2.  Domestic Liquidity (M3, P B)  7				1144.6	1365.1	1427.4	1525.0	1669.7	1725.0	1883.8	2052.5	p	1939.6		2161.2	p
	(% Change)				7.4	19.3	4.6	6.8	9.5	3.3	9.2	9.0		12.0		11.4
														January - March
	(as % of GDP)				42.9	45.9	42.5	42.0	42.1	40.0	38.8	37.9		38.9		38.8
														May
	3.  Expanded Liquidity (M4, P B)   7				1622.5	1886.8	2013.4	2111.1	2298.1	2401.5	2649.3	2814.3	p	2669.1		2946.3	p
	(% Change)				8.2	16.3	6.7	4.9	8.9	4.5	10.3	6.2		9.0		10.4
														January - March
	(as % of GDP)				60.9	63.4	60.0	58.1	58.0	55.6	54.5	51.9	r	53.6		53.0
														June
	4.  Base Money (P B)   8				316.2	357.4	391.7	431.0	458.6	487.3	570.9	637.9	p	551.6		662.9	p
	(% Change)				3.9	13.0	9.6	10.0	6.4	6.3	17.2	11.7		10.8		20.2
														June
	5.  Reserve Money (P B)				239.8	321.7	308.2	312.9	356.1	374.6	410.5	446.8	p	374.8		448.6	p
	(% Change)				-10.0	34.2	-4.2	1.5	13.8	5.2	9.6	8.8		8.6		19.7
	6.  Net Credits from the Monetary System													May
	(P B)   7				1870.4	1923.3	2087.8	2106.4	2207.3	2313.7	2532.9	2427.9	pr	2431.4		2433.1	p
	(% Change)				-2.7	2.8	8.6	0.9	4.8	4.8	9.5	-4.2		2.1		0.1
	of which: Private Sector Credits
	Nominal (P B)			##	1410.7	1394.4	1506.8	1461.9	1480.1	1506.6	1576.7	1553.2	p	1549.3		1522.1	p
	(% Change)				-3.0	-1.2	8.1	-3.0	1.2	1.8	4.7	-1.5		3.0		-1.8
	Real (P B)   9			##	987.5	1450.2	1506.8	1374.2	1346.9	1325.8	1308.7	1196.0		1208.5		1111.1
	(% Change)				#REF!	46.9	3.9	-8.8	-2.0	-1.6	-1.3	-8.6		-5.4		-8.1
	7.  Foreign Currency Deposits (P B;
	Resident. Non-Banks)				477.9	521.7	586.0	586.1	628.4	676.5	765.5	761.8		729.5		785.1	p
	(% Change)				#REF!	9.2	12.3	0.0	7.2	7.6	13.2	-0.5		2.0		7.6
	8.  Total Loans Outstanding - KBS (P B) 10				1348.2	1354.2	1451.5	1399.2	1432.7	1487.7	1525.9	1539.4	p	1590.3		1607.4
	(% Change)				-4.8	0.4	7.2	-3.6	2.4	3.8	2.6	0.9		6.9		1.1
	9.  Non-Performing Loans - KBS (P B)				160.0	195.4	245.8	281.9	245.1	245.5	227.0	159.8		204.4		141.1
	As % of total loans				10.4	12.3	15.1	17.3	15.0	14.1	12.7	8.5		11.0		7.4
														2004		2005
														As of end-Sept
	10.  Capital Adequacy Ratio - KBS				..	..	..	15.3	16.6	17.4	18.7	18.7		18.4		17.6
	(based on Circular No. 280 dated 29 March 2001)													2005		2006
														May
	11.  Total Resources of the Fin'l Syst. (P B)				4179.7	4737.1	5207.5	5295.6	5647.6	6072.9	6435.0	6837.8		6835.6	p	7074.4	p
	B. Interest Rates (% p.a., average)
	Nominal Interest Rates													January - June
	1.  Manila Ref. Rates (90 days) 11				13.70	10.10	8.80	10.13	6.38	9.75	9.50	8.94		8.81		8.31
	2.  T-bills 91 days  12				15.30	10.20	9.86	9.86	5.43	6.03	7.34	6.36		6.64		5.10
	3.  Time Deposits (all maturities)				12.73	9.51	8.51	9.53	5.32	6.41	6.43	5.26		5.27		5.19
	4.  Lending Rates
	High				21.50	16.00	15.60	15.31	10.43	10.75	12.08	11.06		11.51		10.05
	Low				18.10	12.60	12.90	13.67	8.69	8.92	10.07	9.05		9.46		8.25
	5.  Bank Ave. Lending Rates (all maturities)				18.39	11.75	10.86	12.40	8.90	9.48	10.07	10.15		10.04		10.76	r/
	Real Interest Rates  13													January - June
	1.  Manila Ref. Rates (90 days)				4.00	4.20	4.80	3.33	3.38	6.25	3.50	1.34		0.51		1.21
	2.  T-bills 91 days				5.60	4.30	5.86	3.06	2.43	2.53	1.34	-1.24		-1.66		-2.00
	3.  Time Deposits (all maturities)				3.03	3.61	4.51	2.73	2.32	2.91	0.43	-2.34		-3.03		-1.91
	4.  Lending Rates
	High				11.80	10.10	11.60	8.51	7.43	7.25	6.08	3.46		3.21		2.95
	Low				8.40	6.70	8.90	6.87	5.69	5.42	4.07	1.45		1.16		1.15
	5.  Bank Ave. Lending Rates (all maturities)				8.69	5.85	6.86	5.60	5.90	5.98	4.07	2.55		1.74		3.66