The Philippine economy is estimated to grow by 5-6% in 2011. The triple disaster in Japan could adversely affect this estimate, as the country has deep trade and investment links with the Philippines.
Economic Update Dutch version
One might think that the Dutch economy has fully recovered from the deep economic recession of 2009. However, despite the strong growth in the industrial sector, growth in the first quarter is unlikely to rise much above zero on a quarterly basis.
Economic activity in Iceland continued to fall in 2010. However, in 2011 the economy may slowly begin the recover.
After posting 7.5% economic growth in 2010, the highest growth rate in 24 years, we expect the economy to grow at a slower pace in 2011. This is welcome, as inflation has been approaching the upper bound of the target range.
The Australian economy has weathered the global financial and economic crisis relatively well and the deterioration in the public budget balance is easily accommodated by the low sovereign debt level.