Higher growth seen with fiscally aggressive ’22 national budget

The Philippine national budget for 2022 hints at a policy stance that is “still supportive” of growth as well as the government’s intention of accelerating the recovery of the economy, which has not regained prepandemic levels, according to Fitch Solutions.

President Duterte last Dec. 30 signed into law this year’s budget which, at P5 trillion, represented a quarter of the domestic economy and an increase of about 12 percent from the 2021 budget of P4.5 trillion.

“The announced budget was larger than we had previously expected, given our view the government would begin to prioritize fiscal consolidation,” Fitch Solutions said in a research note.

“With the pandemic threat to the …

Keep on reading: Higher growth seen with fiscally aggressive ’22 national budget

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