Forex News: Philippines January-June budget defict of PHP18 billion - less than half PHP41 billion deficit last year - isn't cause for cheer, with improvement caused mainly by underspending, says Goldman Sachs; "more needs to be done on increasing revenue collection in order to achieve sustainable improvement in the fiscal budget...(as) there will be increased headwinds on this front as we expect the economy to grow at a slower pace this year."
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