News round-up: Asia-Pacific (August 27-31)

31 Aug 12
Public finance stories from Asia-Pacific you might have missed this week.

Public finance stories from Asia-Pacific you might have missed this week.

Japan plans to cut state spending, could run out of money in a month

Japan's government is planning to suspend some state spending as it could run out of cash by October, with a deficit financing bill blocked by opposition parties trying to force Prime Minister Yoshihiko Noda into an early election (The Daily Telegraph).

 

Philippine economy grows within government target

Driven by the services sector, the Philippine economy in the second quarter grew within the government's target for the year, although slower than its first-quarter expansion (The Philippine Star).

 

China's fears grow over eurozone crisis

China has expressed deep alarm at the escalating crisis in Europe and warned against austerity overkill as Europe's crumbling demand sends shock waves through Asia (The Daily Telegraph).

 

Budget corruption rampant in Jakarta

The Indonesian Financial Transaction Reports and Analysis Center found Jakarta as the province with the most regional budget corruption cases (The Jakarta Globe).

 

Australian budget surplus still on tracks, says Swan

Treasurer Wayne Swan insists the Labor government will return the budget to surplus next year despite falling commodity prices (The Sydney Morning Herald).

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