Phillipines in Fiscal Crisis, May Face Economic Collapse
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President Gloria Macapagal Arroyo said Monday that she is studying the feasibility of declaring a state of economic crisis to ease pressure on public finances.
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Philippine President Gloria Macapagal Arroyo Monday announced that the economic team in her new Cabinet would stay for another term as the country is striving to solve its fiscal crisis.
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Asia has seen its key markets slide in response to the likelihood of a relentlessly weakening dollar.
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Editor&#39;s Note: Published on page A1 of the Nov. 30, 2004 issue of the Philippine Daily Inquirer. BEATING most forecasts, the economy -- as measured by the gross domestic product (GDP), the
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The Palestinian Authority faces a fiscal crisis that could threaten its existence, in part because it keeps expanding the public payroll despite sharply reduced revenues, the World Bank said in a report released Wednesday.
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An estimated 2 million people in Asia are at risk of sinking deeper into poverty as a result of the Dec. 26 tsunami and its aftermath, with the harshest long-term economic damage expected in Sri Lanka and the Maldives, according to a study by the Philippines-based Asian Development Bank.
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CEBU, Philippines  - The Philippines hastily shelved a high-profile gathering of Asian leaders until early January on Friday due to concerns an incoming tropical storm could wreck havoc at the venue this weekend.
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The Philippine central bank should raise interest rates or price inflation will bust out of the government&#39;s 4 percent to 5 percent target for the year, a former Bangko Sentral ng Pilipinas governor says.
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Philippine President Gloria Arroyo vowed the country will never default on its debt repayments, as she found herself embroiled in a public row with key economic advisers following her declaration that Manila was in a "fiscal crisis".
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Extreme rains, interspersed with droughts, could spell disaster for the country's agriculture-based economy, according to research spanning five decades of data.
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MANILA - Improved revenue flows and increased electricity tariffs are likely to help the Philippines keep well within the 2004 budget and consolidated public sector deficit targets, officials said.
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Some kibbutzes are on the verge of collapse as they cope with debt and attrition.
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Manila - The Philippines was in the midst of a fiscal crisis and the public should be prepared to make sacrifices, President Gloria Arroyo said yesterday.
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Worries about government actions to cool economic growth reverberate around the globe.
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Investors were concerned that the U.S. credit crisis would crimp demand among U.S. consumers for Asiaâs exports.
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With recession looming, there are pitfalls and opportunities.
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A pullback in spending raises the possibility that the country may be experiencing a rare decline in personal consumption.