Anyone who can give me the PRESENT ECONOMIC SITUATION OF THE PHILIPPINES..?

A major accomplishment of the Ramos administration has been the turnaround of government finances, from a history of deficits to three consecutive years of budget surpluses. (Though last year, it was a tiny 0.2% of GDP.) According to Salomon Brothers analyst Julian Liau, fiscal prudence is no minor feat and among BBB sovereigns-only Chile and Indonesia have pulled off budget surpluses in recent years, he said.

Another plus factor for the Philippines is a smaller current account deficit, which has shrunk from 5% to a more a manageable 3% of GDP. Helping to moderate the deficit was the rapid increase of service receipts. “We believe these inflows are becoming a more permanent source of income as a result of the increased confidence in the economic and political environment,” says Liau. However, he says that the current account situation will have to be monitored, given the country’s accelerating growth and low level of savings.

suggested reading… http://findarticles.com/p/articles/mi_qa3715/is_199704/ai_n8767800

http://www.atimes.com/atimes/Southeast_Asia/HJ26Ae01.html