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
IV.	EXTERNAL SECTOR (continued)
	R. Peso-Dollar Rate (P/US$)
	(Period average)		40.893	39.089	44.194		50.993		51.604		54.203		56.040						55.086
	(% Appreciation(+)/Depreciation(-))		#REF!	4.62	-11.55		-13.33		-1.18		-4.80		-3.28						1.73
	(End-of-Period)		39.059	40.313	49.998		51.404		53.096		55.569		56.267						53.067
	(% Appreciation(+)/Depreciation(-))		#REF!	-3.11	-19.37		-2.74		-3.19		-4.45		-1.24						6.03
	Standard Deviation (Volatility)		1.9585	1.0140	3.3627		1.5740		1.1291		0.9833		0.2801						0.8396
	S. Effective Exchange Rate Index of the Peso (Dec1980=100)  21
	Nominal Effective Exchange Rate Index (NEERI)
	Major Trade Partners		17.54	18.17	16.61	r	14.72		14.53	r	12.46	r	11.30	r		r			11.55	p
	Competing Countries - Broad		40.37	37.01	32.33	r	33.91	r	30.88	r	28.83	r	27.94	r		r			28.68	p
	Competing Countries - Narrow		81.09	72.52	65.20	r	69.00	r	59.82	r	52.17	r	54.72	r		r			58.57	p
	Real Effective Exchange Rate Index (REERI)
	Major Trade Partners		67.21	73.27	68.78	r	64.04	r	64.36	r	57.07	r	54.68	r		r			58.88	E
	Competing Countries - Broad		122.24	117.89	116.17	r	120.68	r	111.57	r	104.41	r	105.92	r		r			112.94	E
	Competing Countries - Narrow		218.11	189.70	169.97	r	180.49	r	160.26	r	142.67	r	146.14	r		r			157.75	E
V.	PUBLIC FINANCE
	A. National Government (NG)																January - June
	Revenues, of which:		462.5	478.5	514.8		563.7		567.1		626.6		699.8	r	795.7	r	384.4		471.1
																	January - March
	(as % of GDP)		17.4	16.1	15.3		15.5		14.3		14.5	r	14.4	r	14.7	r	14.0	r	15.0
																	January - June
	Tax		416.6	431.7	460.0		489.9		496.4		537.4		598.0		685.2	r	332.8		417.8
																	January - March
	(as % of GDP)		15.6	14.5	13.7		13.5		12.5		12.4	r	12.3	r	12.6	r	11.7		13.1
																	January - June
																	January - November
	Non-Tax		45.9	46.8	54.7		73.9		70.8		89.3		101.8	r	110.5	r	51.6		53.3
	Expenditures, of which:		512.5	590.2	649.0		710.8		777.9		826.5		886.8	r	942.5	r	451.9		502.6
	Current		467.9	524.2	585.4		648.9		..		..		..				..		..
	Capital		43.5	61.2	60.4		57.4		..		..		..				..		.
	Surplus/Deficit(-) (P B)		-50.0	-111.7	-134.2		-147.0		-210.7		-199.9		-187.1	r	-146.8	r	-67.5		-31.5
																	January - September
																	January - March
	(as % of GDP)		-1.9	-3.8	-4.0		-4.0		-5.3		-4.6	r	-3.8	r	-2.7		-5.2		-4.9
	B. Sources of Financing the NG Deficit
																	January - June
	Borrowings (Net)		88.9	181.7	203.8		175.2		264.2		286.8		242.5		236.0	r	153.2		67.4
	Domestic (Net) (P B)		76.6	98.9	119.5		152.3		155.0		143.0		161.4		143.3		55.8		-26.6
	(as % to total NG Deficit)		153.2	88.6	89.0		103.6		73.6		71.5		86.3		97.6	r	82.6		-84.4
																	50.7		26.1
																	January - March
	(as % of GDP)		2.9	3.3	3.6		4.2		3.9		3.3		3.3		2.6	r	4.2		0.9
																	January - November
																	January - June
	Foreign (Net) (P B)		12.3	82.8	84.4		22.9		109.1		143.9		81.2		92.7	r	97.4		94.0
	(as % to total NG Deficit)		24.7	74.2	62.9		15.6		51.8		72.0		43.4		63.1	r	144.3		298.3
																	January - September
																	January - March
	(as % of GDP)		0.5	2.8	2.5		0.6		2.8		3.3	r	1.7		1.7		5.5		7.1
																	January - June
	Change in Cash (Budgetary)		38.9	70.0	69.6		28.2		53.4		87.0		55.5		89.2	r	85.7		35.9
	(as % to total NG Deficit)		77.9	62.7	51.9		19.2		25.3		43.5		29.7		60.8		126.9		113.9
																	January - March
	(as % of GDP)		1.5	2.4	2.1		0.8		1.3		2.0		1.1		1.6	r	4.5		3.1
	C. NG Revenue Effort Ratio (%) 25		16.51	15.26	14.43		14.54		13.44		13.53	r	13.37	r	13.54	r	12.93	r	13.78
													13.4						..
	D. NG Interest Payments as % of GDP		3.7	3.6	4.2		4.8		4.7		5.2	r	5.4		5.5	r	7.0		7.6
	E. Public Sector Borrowing Requirement  (P B) 26		-111.3	-138.0	-174.6		-189.8		-268.3		-275.0		-280.8		-183.3	r
	(as % of GDP)		-4.2	-4.6	-5.2		-5.2		-6.8		-6.4		-5.8		-3.4	r
	F. Consolidated Public Sector Financial Position 26
	(CPSFP) Total Surplus/(Deficit) (P B)		-85.1	-102.1	-155.1		-174.3		-220.2		-221.7		-232.0		-100.7	r
	(as % of GDP)		-3.2	-3.4	-4.6		-4.8		-5.6		-5.1	r	-4.8		-1.9	r				r/
																	2003		2004
	G. Total Outstanding Debt of  the																April
	National Government  (P B)  27		1496.2	1775.4	2166.7		2384.9		2815.5		3355.1		3812.0		3888.2		3867.1		3996.0
																	March
	(as % of GDP)		56.1	59.6	64.6		65.7		71.0		77.7	r	78.5	r	71.8	r	77.7		71.2
																	April
	Domestic Debt  (P B)		850.9	978.4	1068.2		1247.7		1471.2		1703.8		2001.2		2164.3		2064.2		2190.3
																	March
	(as % of GDP)		31.9	32.9	31.8		34.4		37.1		39.5 r		41.2	r	39.9	r	41.3		39.4