Bloomberg News

Aquino Says No Additional Borrowing for Planned Stimulus Package

October 11, 2011

Oct. 12 (Bloomberg) -- The Philippines won’t incur additional borrowings from a planned 72-billion pesos stimulus package to help support the economy, President Benigno Aquino said in a speech today in Manila.

Savings will fund part of the stimulus, Aquino said. Dividends from state agencies will also help finance the stimulus, Budget Secretary Butch Abad told a Senate briefing in Manila separately.

--With assistance from Karl Yap in Manila.

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

To contact the editor responsible for this story: Clarissa Batino at cbatino@bloomberg.net


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus