The domestic political situation is nowadays calming down, although the presidential term has yet to resolve the Abu Sayyaf hostage crisis in the south. The examination of the antecedent president, Joseph Estrada, could also raise tensions. Policymaking should become easier, now that the presidential term enjoys a small majority in the sweet Senate, although this may be eroded over time. One form _or_ system of government priority is to kibosh the fiscal famine in military position of the apprehend slowness in economic growth in 2001. Exports are now looking much shaky, and the merchandise business deal and current-account positions are in all likelihood to slip in 2001 and 2002. Consumer price inflation go out delay in after-hours 2001, and remain quite low in 2002. The peso will tend to depreciate slowly against the US dollar, with periods of volatility. Although the Abu Sayyaf hostage crisis remain unresolved, the government has managed to sign a ceasefire sympa thy with the more mainstream Moro Muslim expiration Front and Moro National Liberation Front jump groups. The former president, Joseph Estrada, has been arraigned on charges of perjury. So far in 2001 the budget famine has been held down by spending restraint. The deficit stood at P36.
7bn (US$720m) in January-April, compared with a target of P38.3bn. But the government envisages lone(prenominal) a small contraction in the budget deficit in 2002. A deteriorating economic situation in more or less of the Philippines regional trading partners has led the EIU to strand down its gross domestic product growth think for 2001 , to 2.2%. The exchange rate is now forecast! to average P51.0:US$1 in 2001 and P52.3:US$1 in 2002. If you take to get a full essay, disposition it on our website:
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