March 2006
Asia Monitor: South East Asia Monitor Volume 1;Mar2006, Vol. 17 Issue 3, Special section p6
Country Report
Country Report
The article reports on economic developments in the Philippines. The government of President Gloria Macapagal-Arroyo has released a statement on February 7, 2006 regarding the first formal peace negotiations with the Moro Islamic Liberation Front in September 2006. The budget deficit of the Philippines in 2005 has decrease to 146.53 billion pesos due to an increase in its revenues to 13.7 percent or 795.71 billion pesos through the receipts from an expanded value-added tax. Fraport AG has planned to sell its holdings to Manila Hotel in a 200-million-dollar deal after it failed to sell its stake to Ninoy Aquino International Airport third terminal.


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