Govt likely to miss 2019 deficit goalhome/Business/Top Business/Govt likely to miss 2019 deficit goalThis year’s budget deficit will likely fall short of target, a Fitch unit said as it also warned that the Philippine economy appeared to be overheating. We at Fitch Solutions forecast the Philippines’ budget deficit as a share of GDP (gross domestic product) to come in at 2.9 percent,” it said in a report released on Tuesday. The government is aiming for a deficit equivalent to 3.2 percent of gross domestic product (GDP) under the proposed P3.575-trillion 2019 budget, which is still pending in Congress. The likely 2.9-percent result, Fitch said, will still be an expansion from 2018. “This means that the administration will have two sources of spending for 2019: the 2019 budget and the leftover funds from 2018,” it noted.

Source: Manila Times January 08, 2019 17:15 UTC