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E-mail Xinhua, April 1, 2024
MANILA -- The Philippine government's budget deficit increased to 164.7 billion pesos (2.93 billion U.S. dollars) in February, the country's Bureau of the Treasury said Monday.
"The wider budget gap stemmed from the 22.14 percent year-over-year increase in expenditures, matched with moderate revenue growth of 5.73 percent," the bureau said. With the February turnout, the bureau said the year-to-date fiscal balance reverted to a deficit of 76.7 billion pesos (1.4 billion dollars), which is 26.56 percent higher than last year's January-to-February budget gap. (The Philippines-Budget deficit)
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YANGON -- Myanmar earned over 14.31 billion U.S. dollars from its exports in more than 11 months of the 2023-24 fiscal year, according to the release by the Ministry of Commerce on Monday.
From April 1 last year to March 22 this year, the government sector contributed over 3.9 billion dollars, while the private sector contributed over 10 billion dollars. According to the ministry's figures, the export income declined compared to over 16 billion dollars recorded during the same period last year. (Myanmar-Exports)
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PHNOM PENH -- Cambodia's economic growth will improve to 5.8 percent in 2024, up from 5.4 percent in 2023, a World Bank's senior economist said on Monday.
The Southeast Asian country's growth is traditionally driven by garment export, tourism, agriculture, as well as construction and real estate. "The main drivers of growth are the revival of services and goods export, as global trade recovers," Aaditya Mattoo, chief economist of the World Bank's East Asia Pacific Region, said during a video press conference on the launch of the East Asia and Pacific Economic Update report. (Cambodia-World Bank-Growth forecast)
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TOKYO -- Business sentiment among major manufacturers in Japan deteriorated for the first time in four quarters, reflecting a sharp drop in the auto sector caused by production cuts, the Bank of Japan (BOJ) Tankan survey showed Monday.
The key index measuring confidence among companies such as those in the auto and electronics sectors stood at plus 11, against plus 13 in the previous survey for December, according to the quarterly survey for March. The reading represented the percentage of companies reporting good business conditions minus those reporting the opposite. (Japan-Manufacturers' confidence) Enditem
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