8 months PH fiscal condition still stable – Moody’s Manilatimes |Biz
The Philippines continues to enjoy fiscal stability despite last year’s wider-than-programmed budget deficit, a credit ratings agency said on Wednesday. In a report, Moody’s Investors Service took note of the national government’s full-year fiscal performance, which, at 3.2 percent of gross domestic product (GDP), was higher than the programmed 3.0 percent and also an improvement from the previous year’s 2.2 percent. The budget deficit hit P558.3 billion last year, well above the P526.8-billion cap and also higher than the 2017 result of P350.6 billion. Revenue collections reached P2.85 trillion, exceeding the P2.82-trillion target, but spending was more than the programmed P3.35 trillion ... more