Philippine budget deficit outlook for 2010: shortfall not too bad?
January 1, 2010 by dragon · 3 Comments
In ABS-CBN's recent article, they reveal that each Filipino now owes P47,039 to local and foreign creditors, based on the national government's total debt stock as of September.
A month before that, each of the 92.2 million Filipinos owed P45,889.
The culprit: the widening budget deficit that prompts the government to borrow some more. Additional debts, which address current funding needs but could be paid in the future, translate to more debt burden for future generations.
The fact that the Philippines has been spending more than it earns is not earthshaking. Even the richest of countries have budget gaps. But prudence dictates that this deficit, which is a fiscal policy issue, has to be manageable.
PSE reconstitutes index on November 3
Starting November 3, the Philippine Stock Exchange Inc. (PSE), which runs the country’s bourse, will include itself in its benchmark 30-company index.
IN: DMC, SECB
OUT: VLL RCB ABS
The announcement “marks the first time the PSE will be included in the main index, joining listed exchanges such as Singapore Exchange, Hong Kong Exchanges and Clearing Ltd. and Australian Securities Exchange, among others, that currently form part of their main stock market indices," the PSE said in a statement.
Together with DMCI Holdings Inc. and Security Bank Corp., the PSE will replace three other companies – Vista Land and Lifescapes, Inc., Rizal Commercial Banking Corp. and ABS-CBN Broadcasting Corporation. – in the bourse’s main index, the PSE said.
