President Benigno Aquino III has set a lower deficit cap for the current year, setting sight on a 2.6 percent limit for fiscal year 2012, lower than the target set for 2011. Read the rest of this entry »
Noynoy reduces deficit cap for 2012
February 6, 2012
Yearender: Government to step up spending in 2012
December 30, 2011
MANILA, Philippines – The “problem” the government wants to have more than anything now is a wider budget deficit.
It’s ironic because for years, the government has been trying to narrow the budget gap and the previous administration even attempted to balance the budget by 2010 supposedly. Read the rest of this entry »
Yearender: Government to step up spending in 2012
December 30, 2011
MANILA, Philippines – The “problem” the government wants to have more than anything now is a wider budget deficit. Read the rest of this entry »
Stimulus spending stepped up, says Abad
December 14, 2011
The government has released P61.28 billion or 85 percent of the stimulus package as it tries to catch up on its spending to spur economic growth in the fourth quarter, Budget chief Florencio Abad said on Tuesday. Read the rest of this entry »
‘People’s budget’ claim criticized by civil society
December 13, 2011
THE 2012 national budget, to be signed tomorrow by President Benigno S.C. Aquino III, is not the “people’s budget” promised by the government, civil society organizations yesterday said. Read the rest of this entry »
Budget deficit target too high for government
December 8, 2011
MANILA, Philippines – The Aquino administration may not meet even its revised budget deficit ceiling of P260 billion for the year, and incur a budget gap that is below the ceiling, as government spending has yet to significantly improve. Read the rest of this entry »
Underspending under Noy stalls infra dev’t — WB
November 23, 2011
The World Bank (WB) cited the need for the Aquino adminis-tration to speed up public spending to strengthen the local economy’s ability to withstand external shocks mainly as a result of the debt crisis in Europe and the still weak US economy even as it said the country remained well-positioned to absorb any new financial turbulence that might evolve from the current turmoil. Read the rest of this entry »
90% of budget spent – DBM
November 17, 2011
The Aquino administration has already disbursed nearly 90 percent of its budget for this year amid efforts to catch up on spending. Read the rest of this entry »
Lower spending trims H1 deficit to P17 billion
August 4, 2011
MANILA, Philippines – The country’s budget deficit in the first six months of the year was way below what was programmed as the government has yet to catch up with its spending targets. Read the rest of this entry »
Moody’s cites need for Phl to pursue fiscal reforms
July 12, 2011
MANILA, Philippines – New York-based Moody’s Investors Service said the Philippines needs a more sustained improvement of credit fundamentals such as structural improvements in revenue generation requiring significant fiscal reform to get another credit rating upgrade. Read the rest of this entry »
