(Bloomberg) -- The Philippine peso weakened for a second day after a report yesterday showed the biggest monthly budget deficit in more than a decade.
The peso yesterday had its largest drop in almost a month, after Finance Secretary Gary Teves said the budget shortfall grew to 33.4 billion pesos ($700 million). That's the widest gap since at least 1994 and may threaten the nation's ability to cut down on its debt, which stood at 3.87 trillion pesos as of January.
Read more at Bloomberg Currencies News
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