The national government posted a surplus of P55.0 in April 2016 on the back of strong revenue collections, bringing the year-to-date deficit down to P57.5 billion. Net of interest payments, the national government’s primary balance for January-April 2016 stood at a surplus of P59.9 billion. April 2016 surplus stood at P69.8 billion.
Read MoreLadies and Gentlemen:
Read MoreIn light of the United Kingdom voting to leave the European Union, the world has entered uncharted waters. Its immediate repercussions will roil the global financial markets and affect all countries, without exception but with varying degrees. The improvement in the fundamentals of the Philippine economy will put us in good stead but should not lull us into overconfidence. The Philippines is taking a cautiously vigilant stance on the Brexit’s effects on our shores–gradual and minimal at this stage. We are cognizant that there will be immediate sentiment-driven herd reactions in the near-term in response to the heightened volatility and risk in the global markets, but are confident the country’s fundamentals remain a strong anchor as we navigate a sustainable path across today’s turbulent waters.
Read MoreLadies and Gentlemen:
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