March 12, 2019 / 2:24 AM / 5 months ago

Philippine c.bank says budget delays could weigh on 2019 GDP growth

MANILA, March 12 (Reuters) - The Philippine central bank chief said on Tuesday he was concerned that the delayed approval of the 2019 budget might push this year’s economic growth to the low end of the government’s 7-8 percent target.

Bangko Sentral ng Pilipinas Governor Benjamin Diokno also said the central bank did not need to resort to monetary policy easing to ensure funding for the government’s infrastructure projects.

If the central bank were to ease policy, it would be because the country’s reserve requirement ratio for banks remained very high, Diokno said in an interview with the ANC News Channel. (Reporting by Enrico dela Cruz Editing by Darren Schuettler)

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