* Cesar Purisima says assets marked for pivatization will be reviewed

* Privatization should not be used for deficit reduction

MANILA,  Philippines  - Incoming Philippine Finance Secretary Cesar Purisima said the Southeast Asian country plans to cut its budget deficit to 2%  of gross domestic product in three years.

The country ended 2009 with a budget deficit of nearly 4% of GDP and is expected to close 2010 with a shortfall of 3.6%.