The government will stick to its target of a wider budget deficit even if Congress decides to pass a watered-down version of tax reforms deemed crucial for a massive infrastructure program. “Hopefully the Congress bicameral conference [committee]will pass a Train (Tax Reform for Acceleration and Inclusion) version that will yield revenues that will allow the […]
Read MoreMANILA, Philippines — The national government incurred a fiscal deficit of P36.9 billion in September as revenue performance improved and expenditures declined, latest data from the Bureau of the Treasury show. September saw a 51 percent decline in fiscal deficit or P38.4 billion compared to last year. Meanwhile, the January-September deficit of P213.1 billion was […]
Read MoreExpenditures drop, year-to-date target missed The budget deficit narrowed in September from a year earlier, the government reported on Monday, as state spending dropped amid a surge in revenues. The P36.9-billion shortfall for the month was significantly lower than the P75.3 billion posted last year based on data released by the Bureau of the Treasury. […]
Read MorePhilippine economic growth was likely steady in second quarter given continued domestic spending and export gains, First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) said on Monday. “Solid domestic demand, spurred by national government and consumer spending and rising external demand, appear to be in synch to ensure another […]
Read MoreECONOMISTS expect inflation to settle at 3.1 percent this year, slightly lower than the Bangko Sentral ng Pilipinas’ (BSP) full-year estimate of 3.2 percent. “Analysts noted possible upside risks to inflation such as volatile global oil prices, weaker peso, initial implementation of the comprehensive tax reform program, government spending on infrastructure, rise in utility rates, […]
Read MoreThe government is considering the establishment of exclusive industrial parks for Chinese firms planning to locate in the Philippines, a Cabinet official said. Socioeconomic Planning Secretary Ernesto Pernia said the idea was brought up by prospective investors during a recent non-deal roadshow conducted by Cabinet officials in China. “There were expressions of interest in setting […]
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