Moody’s raises Manila’s outlook
MOODY’S Investors Service raised the Philippines’ credit rating outlook to positive from stable Thursday, citing the improvements in the country’s balance of payments and gross international reserves.
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New taxes eyed to finance ’12 budget
President Aquino is looking at expanding the revenue base by imposing new taxes and at the same time boosting collection next year. In his budget call, Budget chief Florencio Abad said revenue efforts must reach 16.3 percent of the gross domestic product from this year’s 15.6 percent.
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