PNoy, Cabinet tackle gov't underspending

(Updated 12:55 p.m.) President Benigno Aquino III on Thursday convened another full Cabinet meeting to address government underspending that slowed down the economy in the first quarter of the year.

 

In a text message, Communications Secretary Herminio Coloma Jr. said Aquino and his Cabinet will further conduct a "review of the first semester performance, with emphasis on accelerating implementation of all priority development and reform programs."

 

Deputy presidential spokesperson Udersecretary Abigail Valte meanwhile said the meeting "will tackle questions arising from last week's meeting on underspending."

Last week, the President met with Cabinet officials and directed them to “accelerate the pace of government spending” to match last year’s 6.3-percent economic growth.

 

Late last month, the Philippine Statistics Authority reported the economy grew at a slower pace of 5.2 percent in January to March from 5.6 percent a year earlier. – VS, GMA News