Ravelas: Philippine budget deficit manageable

In an interview over ANC's Business Nightly, Jonas Ravelas of Banco De Oro Investments said the swelling budget deficit of the Philippines is still in a manageable level. He noted that the Philippines' 3.2% deficit-to-GDP ratio is way lower than its Asian neighbors where the ratios go as high as 7% to 12%. "There is really a need for government to spend, especially on infrastructure, becase of the recent back-to-back typhoons and as the May 2010 elections draw near.

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• jonas ravelas
• business nightly
• banco de oro
• budget deficit