Recto gets to the bottom of the Philippines borrowing plans

The Philippines Undersecretary of Finance, Eric Recto, discusses taxes, bonds and fees.

There is a target in place to have a balanced budget by 2010. Do you think the necessary tax measures will get through the Congress to make that possible

I'm optimistic we'll get some through at the very least, but hopefully all.

As a percentage of GDP is the deficit still on a declining trend

We have arrested the decline and I suspect we will see some slight improvements, but not nearly enough to make a big dent.

What will the budget deficit be as a percentage of GDP next year versus this year

This...

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