24 August 1998
Philippine budget to favour agriculture
PHILIPPINE President Joseph Estrada is expected to honour his commitment to agriculture in his budget, reports the Financial Times.
Agricultures 1999 allocation is expected to rise 22% from 1998s 14.2bn pesos.
Farm output in the Philippines slumped 7.2% in the first half largely because of the El Nino weather phenomenon.
Agriculture employs more than 40% of the Philippine workforce and accounts for about 20% of gross domestic product.