Sept. 29 (Bloomberg) -- Philippine Budget Secretary Butch Abad said Europe must take a “more decisive action” as a slump in the region along with the U.S. will hurt the country’s electronics exports.

“The situation out there is volatile,” Abad told reporters in Manila today. The Southeast Asian nation will keep its budget deficit ceiling this year at 300 billion pesos, he said.

-- With assistance from Clarissa Batino.

To contact the reporter on this story: Joel Guinto at jguinto1@bloomberg.net

To contact the editor responsible for this story: Cecilia Yap at cyap19@bloomberg.net