Deficit Narrows But Further Reforms Needed

March 2006
Asia Monitor: South East Asia Monitor Volume 1;Mar2006, Vol. 17 Issue 3, Special section p7
Country Report
Country Report
The article reports that budget deficit of the Philippines has decreased to 2.8 percent due to an expansion of value-added tax. Philippine President Gloria Macapagal-Arroyo's government expresses confidence that the results in 2006 will surpass the 2005 results. President Arroyo's government aims to convince all its detractors on the effectiveness of the fiscal reform and expanded value-added tax in improving the economy of the Philippines.


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