7 months Gov’t’s ‘catch-up’ spending plan hard to execute — Moody’s MB |Biz
By Chino S. Leyco One of the three major international credit rating agencies is lukewarm about the ability of the national government to fully implement its catch up spending plan to help boost the country’s slowing economic growth due to the delayed approval of this year’s budget. In a briefing, Christian de Guzman, Moody’s Investor Service senior credit officer said yesterday that it will be very challenging to completely execute the P3.7-trillion national budget for this year, which will somehow affect the country’s growth performance. For 2019, the Moody’s already lowered its gross domestic product (GDP) forecast for the ... more