Fast-tracked spending crucial 80% of P1.4-trillion ’09 budget should be used in first half — Recto

Fast-tracked spending crucial 80% of P1.4-trillion ’09 budget should be used in first half — Recto

Socioeconomic Planning Secretary Ralph G. Recto yesterday said 80% of the P1.415-trillion 2009 budget — which is yet to be signed into law by President Gloria Macapagal-Arroyo — should be used during the first six months of the year as there was a chance of a second-half recovery.

The rebound, he told a Palace briefing, depends on whether the government’s proposed stimulus program is carried out as planned.

“2009 will be a critical year as far as the global economy is concerned. The biggest effect on the Philippines will probably be in 2009 as well, so the first six months [will be crucial],” Mr. Recto said.

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