• In recent years, strong economic growth and effective government programs are improving poverty reduction, while, in 2014, natural disasters and delays in state-managed rice importation harmed the poor.
• Domestic financial market experienced large volatilities in recent months but underlying fundamentals remain sound.
• Poverty reduction is expected to continue if the country is able to maintain the relatively high economic growth and better job trends in recent years.
• Gains from higher revenues and unprecedented increases in the budget have yet to translate into commensurate increases in government spending to support an investment-led growth.
• Simplifying business regulations can unleash the full potential of the private sector, in particular, small and micro businesses.
• The remaining eight months of the Aquino Administration present an opportunity to clearly and practically define the unfinished business in the structural reform agenda.