Bloomberg News

Philippines Says It Can Meet ‘Minimum Targeted’ Budget Deficit

October 25, 2011

Oct. 25 (Bloomberg) -- The Philippines can meet its “minimum targeted” budget deficit of 260 billion pesos this year as state agencies catch up on their spending plans, Budget Secretary Butch Abad said.

About 1.395 trillion pesos in allotments have been released as of the end of September, accounting for 85 percent of this year’s budget, Abad said in an e-mailed statement today.

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


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