PH fiscal position expected to worsen

THE country's fiscal recovery will not be helped by next year's P6.352-trillion national budget, a 10.1-percent increase from this year's outlay that a Fitch Solutions unit said would lead to a wider fiscal deficit to gross domestic product (GDP) ratio.

In a commentary released on Wednesday, BMI Research said the ratio could rise to 5.9 percent this year, contrary to the government's aim of lowering it to 5.2 percent from a likely 5.6 percent this year.