Philippines keeps goal of deficit at 2.5 pct of GDP

Published: 17 May 2009 22:56:42 PST

MANILA, May 18 - The Philippines, for now, will stick with a target of bringing in the 2009 budget deficit at 199.2 billion pesos ($4.18 billion), or 2.5 percent of Gross Domestic Product, Finance Secretary Margarito Teves said on Monday.

"As of today we are keeping to the 199.2 billion pesos," he told reporters. Any revision would be decided on after first quarter economic data is announced at the end of the month, he said.