{"id":119406,"date":"2017-09-25T22:34:04","date_gmt":"2017-09-26T02:34:04","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=119406"},"modified":"2017-09-25T23:45:55","modified_gmt":"2017-09-26T03:45:55","slug":"strong-fiscal-performance-needed-to-lift-ph-growth-economist","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/09\/25\/strong-fiscal-performance-needed-to-lift-ph-growth-economist\/","title":{"rendered":"Strong fiscal performance needed to lift PH growth: economist"},"content":{"rendered":"<figure style=\"width: 615px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/03\/shutterstock_137902313-small.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-4504\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/03\/shutterstock_137902313-small.png\" alt=\"Shutterstock\" width=\"615\" height=\"922\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/03\/shutterstock_137902313-small.png 615w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2014\/03\/shutterstock_137902313-small-200x300.png 200w\" sizes=\"auto, (max-width: 615px) 100vw, 615px\" \/><\/a><figcaption class=\"wp-caption-text\">ING Bank Manila senior economist Joey Cuyegkeng, in a research note, said the government\u2019s budget surplus last August might not only be due to improvement in collections \u201cbut also with one-off revenue gains likely to be related to tax settlement inflows. (Shutterstock)<\/figcaption><\/figure>\n<p><strong>MANILA<\/strong>\u00a0&#8212; An economist of ING Bank Manila said the August 2017 fiscal report of the Philippine government \u201cdid not disappoint\u201d but stressed the need for a \u201cstrong fiscal performance\u201d to lift third-quarter growth.<\/p>\n<p>Last week, the Bureau of the Treasury (BTr) reported a PHP28.8 billion budget surplus for August this year, lower than the PHP32.6 billion surplus same period last year.<\/p>\n<p>Revenues grew by 10 percent to Php230.4 billion and expenditures by 14 percent to PHP201.6 billion.<\/p>\n<p>As of end-August this year, the budget gap stood at PHP176.2 billion, 27 percent up from the PHP138.4 billion same period last year.<\/p>\n<p>ING Bank Manila senior economist Joey Cuyegkeng, in a research note, said the government\u2019s budget surplus last August might not only be due to improvement in collections \u201cbut also with one-off revenue gains likely to be related to tax settlement inflows.<\/p>\n<p>\u201cThe higher deficit is likely a reflection of better utilization of the programmed spending,\u201d he said.<\/p>\n<p>\u201cAugust (fiscal report) did not disappoint but the acceleration in spending was milder than we expected,\u201d he said.<\/p>\n<p>Cuyegkeng explained that they projected \u201cclose of 20 percent\u201d year-on-year growth in spending in the eighth month this year but noted that below expected spending growth \u201cmay have to do with some accounting and booking delays.\u201d<\/p>\n<p>\u201cThe improvement should help overall economic growth to remain close to 6.5 percent in 3Q despite manufacturing growth indicators posting some moderation,\u201d he added.<\/p>\n<p>Growth in the second quarter this year rose slightly to 6.5 percent from quarter-ago\u2019s 6.4 percent.<\/p>\n<p>The government\u2019s full-year growth target is a range between 6.5-7.5 percent.<strong><em>\u00a0<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0&#8212; An economist of ING Bank Manila said the August 2017 fiscal report of the Philippine government \u201cdid not disappoint\u201d &hellip;<\/p>\n","protected":false},"author":33,"featured_media":4504,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,16,95],"tags":[24715,14146,10587],"class_list":["post-119406","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","category-news","category-news-ph","tag-bureau-of-the-treasury-btr","tag-ing-bank-manila","tag-joey-cuyegkeng","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/119406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=119406"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/119406\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/4504"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=119406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=119406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=119406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}