Joint Readout from the U.S. Treasury and Philippine Government on the Philippines-U.S. Partnership for Growth economic dialogue
January 12, 2012
Joint Readout from the U.S. Treasury and Philippine Government on the Philippines-U.S. Partnership for Growth economic dialogue
United States Treasury Deputy Secretary Neal S. Wolin met today with Philippine senior government officials for a dialogue as part of the Philippine government’s participation in the Partnership for Growth initiative of the United States. He met with Philippine Finance Secretary Cesar V. Purisima, Budget Secretary Florencio B. Abad, and Commissioner of Internal Revenue Kim Henares.
At the meeting, the officials exchanged insights on regional economic developments and the global economic outlook. They reaffirmed their commitment to pursue policies that strengthen global economic recovery and support strong, sustainable, and balanced global growth. Philippine economic managers outlined their economic and governance reform agenda, including national efforts to achieve fiscal consolidation through improved revenue collection and more efficient expenditure management. The Aquino administration also underscored its commitment to increasing investments in human capital and infrastructure in order to achieve stronger, sustainable, and more inclusive growth.
Deputy Secretary Wolin expressed strong support for these initiatives and announced the U.S. Treasury’s commitment to provide technical assistance to assist the Philippines in its efforts to improve expenditure management, which is key to bolstering fiscal stability and executing critical investments in infrastructure, health, and education.
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