Budget impasse could ''slow down'' expenditure: BSP
The deadlock on the 2019 national budget could "slow down" the country's expenditure, according to Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo.
"When there is a budget impasse, the expenditure could slow down because you are operating within a re-enacted budget," Guinigundo said on Thursday in a press briefing.
Guinigundo explained that while public works projects are exempted from the effects of the budget impasse, proposed plans for 2019 will be greatly affected.
"The commitments you made in 2019 which may not be covered by a reenacted budget are the ones that may be affected adversely if the budget impasse is not resolved," he said.
He said the ban on conducting public works projects made effective due to the coming midterm polls could possibly impede economic growth.
But Guingundo said he is positive the impasee on the 2019 national budget will be resolved soon.
"If this happens, we should be able to see more positive outcome," he added. Cristina Eloisa Baclig/DMS