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


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