Article: Arroyo agrees to increase 2003 budget to 804 billion pesos

Arroyo agrees to increase 2003 budget to 804 billion pesos

MANILA, Aug. 13 (Xinhua) -- Philippine President Gloria Macapagal- Arroyo on Tuesday approved the increase of the national budget for 2003 to 804 billion pesos (15.49 billion US dollars), or 0.4 percent higher than the amount proposed earlier.

The twin goals of the 2003 national budget are to restore the country's macro-economic stability and to win back investor confidence in the economy, the presidential palace quoted Arroyo as saying in a press statement released Tuesday.

On the Cabinet meeting held on Tuesday in the palace, Arroyo stressed that next year's budget should be able to lay the foundation of a strong ...

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