Delay in RP’s balanced budget goals fine by IMF

MANILA, Philippines – The International Monetary Fund (IMF) does not see any problem with the government’s dropping a 2010 balanced budget goal, but says the pump-priming rationale should be backed up with improved tax administration and a well-crafted stimulus plan.

IMF Resident Representative Dennis Botman, in an e-mail to BusinessWorld, said incurring a modest deficit would allow the government to prop up economic growth.

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