PH 2012 budget gap around 2.3 pct of GDP, below goal

Posted at 02/04/13 2:40 PM

MANILA - The Philippine government's budget deficit in 2012 may be around 2.3 percent of gross domestic product, lower than its target of 2.6 percent of GDP, Budget Secretary Florencio Abad said on Monday. 

Manila wants to narrow its budget deficit to 2.0 percent of GDP this year, helped by higher revenues from a revised tax structure on alcohol and tobacco products.