Philippine budget deficit outlook for 2010: shortfall not too bad?

  In ABS-CBN's recent article, they reveal that each Filipino now owes P47,039 to local and foreign creditors, based on the national government's total debt stock as of September. A month before that, each of the 92.2 million Filipinos owed P45,889.  The culprit: the widening budget deficit that prompts the government to borrow some more. […]

Fitch downgrades RP’s outlook

LONDON-BASED Fitch Ratings has cut its growth forecast for the Philippines to just 0.5% for this year, substantially lower than the its 2.0% estimate in February and the government’s trimmed 3.1-4.1% expectation announced last week. "We are now forecasting a GDP (gross domestic product) growth rate of 0.5% in 2009, the lowest growth rate since […]

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