The Philippines continues to enjoy fiscal stability despite last year’s wider-than-programmed budget deficit, a credit ratings agency said on Wednesday.

In a report, Moody’s Investors Service took note of the national government’s full-year fiscal performance, which, at 3.2 percent of gross domestic product (GDP), was higher than the programmed 3.0 percent and also an improvement from the previous year’s 2.2 percent.

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