{"id":241795,"date":"2020-01-09T22:34:00","date_gmt":"2020-01-10T03:34:00","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=241795"},"modified":"2020-01-09T22:34:00","modified_gmt":"2020-01-10T03:34:00","slug":"signing-of-ph-2020-natl-budget-credit-positive-moodys","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/01\/09\/signing-of-ph-2020-natl-budget-credit-positive-moodys\/","title":{"rendered":"Signing of PH 2020 nat\u2019l budget credit positive: Moody\u2019s"},"content":{"rendered":"
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Moody\u2019s expects this year\u2019s national budget, along with the extension of the validity of the 2019 budget for infrastructure program, to support fiscal expansion and domestic growth. (File Photo: Gil C \/ Shutterstock.com)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0\u2013 The passage of the Philippines\u2019 2020 national budget and its signing early this month can support the country to post a strong growth this year, which Moody\u2019s Investors Service forecasts to be around 6.2 percent.<\/p>\n

In a report, the debt rater said the country\u2019s PHP4.1-trillion national budget this year, which was signed by President Rodrigo R. Duterte last Monday, is 12 percent higher than last year\u2019s PHP3.7-trillion national budget.<\/p>\n

This year\u2019s national budget, it said, \u201cwill help sustain the Philippines’ rapid economic growth against an uncertain global backdrop, a credit positive.\u201d<\/p>\n

Last year, the government operated on a re-enacted for several months until its signing into law on April 15.<\/p>\n

This affected government spending since new infrastructure projects were not implemented based on program.<\/p>\n

However, the government implemented a catch-up infrastructure spending program to address the impact of the delay in the approval of the national budget on domestic growth.<\/p>\n

Moody\u2019s expects this year\u2019s national budget, along with the extension of the validity of the 2019 budget for infrastructure program, to support fiscal expansion and domestic growth.<\/p>\n

\u201cWe project the Philippines’ real GDP (gross domestic product) growth will accelerate to 6.2 percent this year from 5.8 percent in 2019, faster than most regional and rating peers and bucking the trend of lackluster global economic growth,\u201d it said.<\/p>\n

The government\u2019s 2019 GDP target is between 6 percent to 6.5 percent, and 6.5-7.5 percent for 2020-2022.<\/p>\n

Moody\u2019s also projects further improvement of the country\u2019s fiscal metrics on account of the structural improvement of revenues as a result of the tax reforms.<\/p>\n

\u201cWe expect national government debt to remain stable and debt affordability to improve,\u201d it added.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0\u2013 The passage of the Philippines\u2019 2020 national budget and its signing early this month can support the country to …<\/p>\n","protected":false},"author":33,"featured_media":172503,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-241795","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/241795","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=241795"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/241795\/revisions"}],"predecessor-version":[{"id":241796,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/241795\/revisions\/241796"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/172503"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=241795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=241795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=241795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}