(Reuters) – The Philippines’ budget deficit could fall to 2.5 percent of GDP in 2011 if economic growth hits 7 percent, Finance Secretary Cesar Purisima said on Wednesday.
“Assuming we attain the 7 percent target… the …

When a big issue explodes and rocks the nation, you can expect the Philippine Senate to be front and center, conducting Senate inquiries and public hearings that are usually televised like an unfolding soap opera.
But …

With his first budget statement to Congress President Aquino proposes a nearly 20% increase in the education budget from 175 billion pesos to 207 billion. This coupled with a nearly 20 billion peso increase or near tripling of the 4P’s or the conditional cash transfer program aimed at 2.3 million indigent families to improve school attendance represents a significant investment in the human capital of the nation. For all intents and purposes, we can call this an education budget. Let us now examine why.

Senate widens probe into GOCC execs’ fat paychecks
by Sophia Dedace
GMANews.TV
The Senate finance committee is expanding the probe into fat paychecks and excessive perks executives of government-owned and controlled corporations supposedly received as the current administration, …

Ombudsman forms task force to probe cop torture
abscbnNews.com
MANILA, Philippines – The Office of the Ombudsman on Thursday said it has formed a task force that would investigate the alleged torture of a suspected …

Philippines suspends 11 police in torture probe
by Hrvoje Hranski
Associated Press
MANILA, Philippines — Philippine police relieved all the officers in a city precinct Wednesday after a television station aired footage purportedly showing police torturing …

As the US and Europe brace for tough times ahead, the economic managers in the Philippines unveiled their expectations for an acceleration of growth from 6-7% for CY’s 2010 and 2011. The means by which they hoped to achieve such a feat which is 2-3 percentage points above the past decade’s trajectory of 4%? Well assuming the rest of the economy maintains its recent rate of expansion (doubtful given the dour state of the world economy), this gap would be achieved through PPP’s or public-private partnerships in infrastructure brought on by an improved investment climate.

Unfortunately, even if the government were able to exceed its targets and spur economic growth of 9% a year up to 2020, the rate needed to double average incomes in a population which is itself growing by close to 2% annually, we would only have attained the same level of income that Thailand had reached in 2006/07.

Navy wants to be paid ‘in kind’ for leased properties
GMANews.TV
The Philippine Navy prefers equipment over cash as payment for the planned long-term lease of their headquarters in Manila and of the Bonifacio Naval Station in …