The Philippine government’s plan to increase spending and revenue may boost growth and lead to higher credit ratings, Fitch Ratings said.
The government raised its 2010 spending budget for public works, salaries and debt payments to a record 1.62 trillion pesos ($35 billion) from a previous forecast of 1.58 trillion pesos, Budget Undersecretary Laura Pascua said in an interview yesterday. Revenue, including gains from the sale and lease of assets, may climb to 1.32 trillion pesos compared with an earlier estimate of 1.28 trillion pesos, she said.More from Business week
