The 2013 budget foresees inflation of 10.8%, dollar at $ 5.10 and 4.4% growth

September 20, 2012
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The budget forecasts an inflation of 10.8%, dollar at $ 5.10 and 4.4% growth for 2013.

This is stated in the draft budget that Cabinet Office introduced in the House of Representatives.

The document also states that the economic growth this year will be 3.4%, lower than the expected 5.1%.

The national government also estimates that revenue will rise 22.7% from 2012, reaching 822,073.5 million pesos.

Furthermore, it will be used ahead of $ 7,967,000 of Central Bank reserves to pay debts in 2013, 40.4% more than in 2012, when it was used 5.674 million dollars.

Authorities also claim that inflation is 10.8%, half of that estimated by private consultants.