Philippines posts US$837mil budget surplus in January

MANILA, March 18 (Reuters) - The Philippine government posted a budget surplus of 45.75 billion pesos (US$837.15 million) in January, versus a 23.4 billion pesos deficit in the same period last year, the finance ministry said in a statement on Friday.

In another development, the free trade agreement (FTA) between the Philippines and South Korea is in the final stages, the Philippine Department of Trade and Industry (DTI) has announced.