By BULATLAT Manila — The new administration is challenged to put forward pro-people initiatives to address the fiscal crisis, but front-running presidential candidate Sen. Benigno ‘Noynoy’ Aquino has yet to take a strong progressive position on the country’s fiscal problems, said research group IBON. The International Monetary Fund (IMF), finance officials, creditors and private sector…
Tags: fiscal deficit
January-May Deficit Shows Philippines on Verge of Renewed Fiscal Crisis
By IBON FOUNDATION Posted by Bulatlat.com MANILA — The January to May 2009 fiscal deficit of the national government that reached an alarming P123.2 billion ($2.5 billion) signifies that the country is on the verge of a renewed fiscal crisis. Among others this underscores the need to revisit the country’s debt policy to a maximum…