Thursday, 31 July 2008 15:14
The economy likely grew around 5.7 percent in the April to June quarter from a year ago, outpacing a 5.2 percent expansion in the first quarter, a senior government official said on Thursday.
Consumption, which makes up about 70 percent of the economy, defied rising inflation with support from continued strong flows of remittances from Filipinos working overseas, Augusto Santos, deputy director general at the state economic planning office, told Reuters.
Thursday, 31 July 2008 15:10
Former National Treasurer Leonor Briones on Tuesday said that the P1.4 trillion proposed national budget for 2009 may well be regarded as the administration's campaign fund for the 2010 national and local elections.
Briones, a professor of the National College of Public Administration and Governance (NCPAG) at the University of the Philippines-Diliman, said that the warm reception of administration allies during the President's State of the Nation Address (SONA) Monday mirrored their anticipation of receiving allocations that would fund numerous projects that could be used to woo votes in 2010.
"The 2009 budget is clearly an election budget. So, tingnan natin kung saan ba mapupunta yung P1.4 trillion... bantayan pareho ang revenues at saka 'yung expenditures kasi at the end of the day, tayo rin naman ang magbabayad," Briones said.