Philippine president endorses 2009 budget aimed at boost economy

Special Report:Global Financial Crisis

MANILA, March 13 (Chinese media) -- Philippine President Gloria Macapagal-Arroyo

has signed into law 2009 national budget that aims to boost public spending to

head off recession, a cabinet official announced Friday.

Budget Secretary Rolando Andaya told local reporters that the budget,

valued at 1.414-trillion pesos (29 billion U.S. dollars), will help "blunt the

effects of the global economic downturn on the country."

The budget includes a sweeping 330 billion pesos (6.8 billion U.S. dollars)

stimulus package for infrastructure, job creation and subsidies programs to

wheel the economy.

The government last month cut its 2009 growth forecast to between 3.7 and

4.4 percent and warned the budget deficit would float to 178 billion pesos (3.67

billion U.S. dollars), about 2.2 percent of gross domestic products (GDP).