The Philippine government said Wednesday the 72.11 billion pesos (1.65 billion U.S. dollars) stimulus package and the 2012 budget are enough to boost growth next year.
"The stimulus package is already sufficient. Again, there will be a spillover to the next year. In addition to that, we also have the budget that was approved," Presidential Spokesman Edwin Lacierda said in a news briefing.
Lacierda said the National Economic and Development Authority will make a presentation to the president on its proposed additional stimulus measures.
Lacierda said that when the budget department recommended the stimulus package to the president, it was envisioned to stimulate the economy toward the end of 2011, spilling over to 2012.
As of Dec. 6, the government had already released 85 percent of the stimulus package to agencies and state-owned corporations./.