Austerity measures in RP

Sun, 28 Dec 1997, 00:00 WIB | Source: AFP

MANILA (AFP): President Fidel Ramos yesterday ordered
government agencies to implement austerity measures to help the
Philippines weather the Asian financial crisis, the presidential
palace said.

The measures include the suspension of "new
capital/infrastructure projects, except those which have already
been contracted out," and halts to tax subsidies to government-
controlled corporations and local government units, Ramos said in
an administrative order.

View JSON | Print