PH gov’t spending more when the economy slows–BSP study

MANILA, Philippines — The Philippines’ shift toward countercyclical fiscal policy, in which government spending rises during economic downturns, could support long-term development and ease the burden on the central bank to stabilize the economy, research by the Bangko Sentral ng Pilipinas (BSP) showed. In a discussion paper titled “Governance and Cyclicality of Philippine Fiscal Policy,” BSP