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Macroeconomic News

PRESS DIGEST - Philippine newspapers - Aug 17

Mon, 17th Aug 2009 02:57

MANILA, Aug 17 (Reuters) - These are the leading stories in Manila newspap
ers on Monday. Reuters has not verified these stories.

- Under fire for expensive dinners in New York and Washington, D.C., President Gloria Macapagal Arroyo has scrapped a plan to purchase a new presidential jet worth 1.2 billion pesos ($25 million). (ALL PAPERS)

- Any effort to rewrite the constitution, either through a constituent assembly or constitutional convention, before President Gloria Macapagal Arroyo steps down next year is virtually dead, a senior lawmaker said. (THE PHILIPPINE STAR)

- The Moro Islamic Liberation Front should not stand in the way of government troops pursuing the Abu Sayyaf rebels, the presidential palace said, following the former's alleged involvement in a firefight on Basilan island last week. (MANIL BULLETIN)



- The Philippine central bank is expected to keep rates on hold this week as it gears for an eventual shift in its policy stance amid improving global economic prospects, a BusinessWorld poll showed. (BUSINESSWORLD)

- Fitch Ratings said it expects the Philippine economy to expand at a faster rate of 2.2 percent next year, aided by the world's gradual recovery from the economic crisis. (PHILIPPINE DAILY INQUIRER)

- The country's public sector surplus rose 34.3 percent in 2008 from a year earlier due to the improved fiscal position of state-run firms and local government units, the Department of Finance said. (BUSINESSWORLD, MALAYA)

($1 = 48.05 Philippine pesos)

(Reporting by Karen Lema; Editing by Kim Coghill) ((; +63 2 841-8937; Reuters Messaging: Keywords: PHILIPPINES PRESS/

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