First Half Budget Deficit Below Target; Government to Ramp Up Spending

Budget deficit widened to P120.32 billion in the first six months of the year, a reversal of the P13.75-billion surplus a year ago. The number is only 42% of the P283.7-billion deficit cap for 2016, equivalent to two percent of the GDP. The narrow deficit and the new government’s revision of the goal to 2.5% would help the administration’s plans to speed up spending to boost the economy

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