The Philippine government has recently managed to get a budget approved that will further increase investment in infrastructure and public service delivery. Growth prospects remain relatively good.
A new government took office in March 2014 and has been pushing through a bold reform agenda. In the meantime, the economy took a downturn, but economic activity is likely to improve in 2015.
Economic Comment Dutch version
The end-of-year rally on the Dutch housing market is stronger than expected. The number of sales rose strongly: more than 30% y-o-y. The median house price is also 3.5% higher than 2013Q4. Regional differences remain considerable though.
Economic Update Dutch version
Statistics Netherlands (CBS) has made a slight downward adjustment to its growth estimate for the Dutch economy in the third quarter of 2014. This makes no difference to the picture for the Dutch economy and our growth expectations, which remain unchanged.