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June 6, 2000, The Philippine Star, IMF to review effect of Mindanao conflict on economic performance, by Marianne Go,

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June 6, 2000, The Philippine Star, IMF to review effect of Mindanao conflict on economic performance, by Marianne Go, 

Government may ask for some flexibility on its economic targets from the International Monetary Fund (IMF) following the expected effect of the Mindanao conflict on economic performance. 

According to Finance Secretary Jose T. Pardo, government will give the IMF a special briefing on the Mindanao situation which is seen to create an impact on government's expenditure program. 

Government economists said the prevailing Mindanao crisis continued to eat up a large portion of government's expenditure program. Huge funds have been spent to support military operations and social services in the region. 

Pardo earlier said the Department of Budget and Management has to release more funds for the Mindanao situation. 

The finance chief said the government will also brief the IMF on the government's revenue collection effort as well as on the revenue measure that Congress is supposed to pass. 

Government's cash budget figures for the first five months of the year is expected to be release next week. 

For the first four months of the year, government's cash budget position incurred a deficit, but still well below the programmed level. 

Government revenues, on the other hand, are seen to fall below the targeted level especially now that the government has admitted a lower growth target. 

Earlier, Pardo said the government is now realistically looking at the lower end of its target growth range of 4.5 percent to 5.5 percent. -- Marianne Go 

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