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
																	April
	Foreign Debt  (P B)		645.3	797.0	1098.5		1137.2		1344.3		1651.3		1810.7		1723.9		1802.9		1805.6
																	March
	(as % of GDP)		24.2	26.8	32.7		31.3		33.9		38.3	r	37.3	r	31.8	r	36.3		31.8
											Sep
	H. Total Public Sector Debt   28		2522.5	3020.2	3623.8		3850.2		4369.1		5074.0	r	5297.6	p	5063.9	p
	(as % of GDP)		94.6	101.5	108.0		106.0		110.2		117.6	r	109.0	r	93.4
	Domestic  (P B)		937.7	976.5	1076.5		1187.1		1361.8		1531.1	r	1708.7	p	1745.4	p
	(as % of GDP)		35.2	32.8	32.1		32.7		34.4		35.5	r	35.2	r	32.2
	Foreign  (P B)		1584.8	2043.7	2547.3		2663.0		3007.3		3543.0	r	3588.9	p	3318.5	p
	(as % of GDP)		59.5	68.7	75.9		73.3		75.9		82.1	r	73.9	r	61.2
																	2005		2006
																	January - June
	I. NG Debt Service Payments (P B)		164.5	205.4	227.8		274.4		358.0		470.0		601.7		678.9		286.4		391.7
	Interest		99.8	106.3	140.9		174.8		185.9		226.4		260.9		299.8		143.1		156.6
	Principal		64.7	99.1	86.9		99.6		172.1		243.6		340.8		379.1		143.3		235.1
VI.  STOCK MARKET TRANSACTIONS   29																				p
																	January - June
	A.  Volume (Total, million shares)		287791	948959	659424		164434		99845		85966		284342		317641		243089		263246
	B.   Value (Total, million pesos)		408679	780963	357660		159555		159727		145355		206565		385520		223191		257219
	C.   Composite Index (Average)		1847.0	2171.6	1541.7		1331.9		1204.9		1197.2		1621.7		1983.1		1960.5		2201.5