There canbe no assurance that any product in Inovio`s pipeline will be successfullydeveloped or manufactured, that final results of clinical studies will besupportive of regulatory approvals required to market licensed products, or thatany of the forward-looking information provided herein will be proven accurate.Inovio BiomedicalBernie Hertel, 858-410-3101 (Investors)orRichardson & AssociatesJeff Richardson, 805-491-8313 (Media) Copyright Business Wire 2009. * Reiterates strong oper performance for full year * Sharesup 1 percent (Adds details) July 6 (Reuters) - British set-top box maker Pace Plc(PIC.L) said on Monday it was on target to meet managementexpectations for the six months ended June 30. But thathas led market watchers to warn that expectationsfor the administration's first budget may be unrealisticallyhigh. Botheconomies have been fuelled by stimulus spending to spurdomestic demand.

The run-up to India's annual budget announcement, alwayssubject to fierce jockeying by ministries, industries and otherinterest groups, was especially frenzied this year given theruling coalition's decisive electoral win. With the developed world mired in recession, big emergingeconomies led by China, which is on track for 8 percent growththis year, and India account for a rising share of globaloutput and are expected to help drive global recovery. The finance ministry said on Thursday that growth couldrise to 7 percent this year -- towards the high end of therange of private forecasts -- and subsequently increase to 8.5to 9 percent if the government adopts sweeping reforms andspeeds infrastructure development. That compares with below 3 percent of GDP forChina and more than 12 percent for the United States in thelatest fiscal years.

India's economy, Asia's third-largest, grew at 6.7 percentin the most recent fiscal year, held back by the globaldownturn, after expanding at least 9 percent for three straightyears. The bond market had priced in expectations that thefigure could creep higher this year to as much as 6.5 percent. Including off-balance sheet items like subsidies for fueland food, as well as state-level shortfalls, India's overallfiscal deficit for the year that ended in March was about 10percent of GDP. Inadequate power supplies and transport links have longbeen a bottleneck to India's growth.

DEFICIT WOES Unconstrained by its previous alliance with leftistparties, Singh's new government has a freer hand to implementeconomic liberalisation measures to drive expansion but hasalso promised to support social programmes and ruraldevelopment. "The first challenge is to return the GDP growth rate of 9percent per annum at the earliest," Mukherjee said in hisaddress to parliament. At the same time India is hobbled by a fiscal deficit thatballooned to 6.2 percent in the financial year that ended inMarch. "The second challenge is to deepen andbroaden the agenda for inclusive development." Mukherjee said overall spending would increase by 36percent this year, but he also called for a return to fiscalresponsibility targets "at the earliest." He said states should remove bottlenecks for infrastructureprojects, and outlined plans for more flexible financing forinfrastructure and development of long-distance gas pipelines. The first budget of Singh's new administration is seen as aroadmap for how he will govern for the next five years afterhis Congress party-led coalition was reelected by anunexpectedly decisive margin. "The real concern emerging from the budget is that it hasnot given confidence as to how the government will go about thefiscal consolidation process, after hiking the fiscal deficittarget," said Rupa Rege Nitsure, chief economist at Bank ofBaroda in Mumbai. "While the thrust on agriculture, infrastructure, etc.augurs well from a long-term growth perspective, the fiscalprofligacy is quite obvious in the near term," she said.