Amando Tetangco Fiscal Quotations

The deceleration in liquidity growth may be traced mainly to lower net credits to the public sector as a result of the improved fiscal performance.

Improved macroeconomic conditions, particularly on the fiscal front, as well as upbeat expectations for 2006 heightened investor confidence.

It will be important to show that the fiscal reforms are being continued. A deviation will tend to be negative and can adversely affect financial markets.