Bloomberg News

Philippines May Add 20 Billion Pesos to Stimulus Plan, Abad Says

October 16, 2011

Oct. 17 (Bloomberg) -- The Philippine government may increase its budget for its stimulus plan by 20 billion pesos, Budget Secretary Butch Abad told reporters today in Manila.

The additional funds will be used to provide electricity to remote provinces and the government will decide in November, Abad said. The government likely had a budget deficit in September, Abad said. The shortfall this year may be 240 billion pesos without the additional stimulus, he said.

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

To contact the editor responsible for this story: Karl Lester M. Yap at kyap5@bloomberg.net


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