Gov’t pump-priming to continue next year

Teves: Balanced budget moved to 2013.

MANILA, Philippines – Finance secretary Margarito Teves said the government would still be on a pump-priming mode through 2010, appeasing concerns against a perceived premature belt-tightening, which critics said could stall the economy’s move to recovery.

“We are not yet doing an exit [from the pump-priming mode]. Next year’s budget will still have some degree of stimulus although not as huge as this year’s,” Teves told reporters yesterday at the sidelines of a forum on corporate governance organized by the Organization of Economic Cooperation and Development (OECD) held in Makati City.

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