The Philippines Faces Budget Delays That Threaten Growth

The Philippines Faces Budget Delays That Threaten GrowthApproval of the 3.76-trillion peso ($ 71.9 billion) budget may be delayed to August, Senate President Vicente Sotto said. “This budget will be delayed unless the House goes back to the version we agreed upon,” Sotto said in a mobile-phone message Monday. HighlightsEconomic managers have warned that failure to pass this year’s budget will cut the nation’s economic growth by as much as 2.3 percentage points this year, partly due to spending delays for major projects.



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