MANILA, Philippines -The fiscal deficit would increase beyond the government’s original target for this year, but economic managers said the budget gap would be widened by lower revenues and not increased spending for pump-priming.
THE Philippines is likely to incur a bigger budget deficit for this year than what the government has programmed due to weak revenue collection and high expenditures, the International Monetary Fund (IMF) said Wednesday.
The government will forego roughly P20 billion in potential revenues this year from the full-year implementation of the tax relief law, which increased the personal exemptions of taxpayers and waived the withholding tax on minimum wage earners.
By all accounts the freest democracy in Southeast Asia, the Philippines, ironically, has become less and less transparent in its budget and financial processes.
The National Economic and Development Authority (NEDA) wants the government to postpone the plan to rationalize state agencies to help Filipinos cope with the global financial turmoil.
Twenty foreign-assisted projects have incurred P33.5 billion in cost overruns, Sen. Francis Escudero said yesterday.
PRESIDENT Arroyo has reshuffled the members of her Cabinet, Executive Secretary Eduardo Ermita said yesterday.
MOST of the rich Filipinos evade taxes, and many are members of civil society groups preaching compassion and demanding the rule of law, an official said yesterday.
The government plans to spend 60 percent to 80 percent of its P1.415-trillion budget for the year during the first semester as part of plans to pump-prime the economy, National Economic and Development Authority (NEDA) director-general Ralph Recto said.
The government’s budget deficit could swell to as much as P160 billion in 2009 or two percent of gross domestic product (GDP), Socioeconomic Planning Secretary Ralph Recto said.
How many undersecretaries and assistant secretaries does it take to run a government?
President Arroyo has created the Procurement Transparency Board (PTB) to ensure that all public sector contracts are aboveboard.
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March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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