UBS Study: Putting Singaporean and Malaysian monetary policy in context
The latest monetary policy moves from
Preliminary GDP estimates in
Both economies should get a lift in coming quarters from domestic fiscal expansion, some improvement in the global trade cycle and now substantial global fiscal policy stimulus.
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Fiscal update: The Gap Widens
By Romeo Bernardo & Margarita Gonzales
As expected, the country's fiscal deficit continued to expand due to weakening revenues and accelerated spending. Tax collections dropped on account of slowing nominal growth and a sharp import decline, while outlays ballooned as national government cranked up spending under its economic resiliency plan.
The NG's Q1 deficit, at more than double the size of last year's fiscal gap, is already over half the government's new full-year target of P199.2 billion (2.5% of GDP). The country now has a primary deficit in contrast to a year-ago surplus.
With the rest of the year still ahead, will there a tapering of the fiscal deficit enough for the government to meet its official goals?
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