Economy / Philippines
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2006 Deficit Undershoots, But Upside Risks In 2007
March 2007 | Economic OutlookSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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BMI View: Public finances in the Philippines improved considerably in 2006, with the full-year budget deficit coming in at under half of the government's initial target, at PHP62.2bn. However, despite the improvements, we continue to believe that the government's target of balancing the budget by 2008 is ambitious, given that there are several upside risks to the deficit this