Palace: Reducing the country’s debt remains a priority

By Myris Lee

The incoming administration of president-elect Ferdinand Marcos Jr. is set to inherit debts from borrowings to address the COVID-19 pandemic, but the Duterte Administration assured that it still considers cutting the country’s debt as one of its priorities.

According to acting Presidential Spokesperson Martin Andanar, the outgoing economic team of the administration “has proposed a fiscal consolidation and resource mobilization plan, containing fair, efficient, and corrective tax measures.”

“These include the expansion of value-added tax base by removing ineffective VAT exemptions except for some sectors, among others, to generate revenues,” he said.

“These are, however, subject to the consideration of the next Administration,” he added

The country’s outstanding debt reached P12.76 trillion as of end-April. – ag

Popular

PBBM underscores public cooperation as key to better disaster response

By Dean Aubrey Caratiquet President Ferdinand R. Marcos Jr. reiterated his call on the citizenry to remain on constant alert and exercise vigilant measures at...

PBBM lauds eGov app’s impact on Filipinos, hints at upcoming features

President Ferdinand R. Marcos Jr. recognized the indispensable role of the eGov app in fast-tracking and streamlining the digitalization of government transactions and services,...

What’s next for the Marcos admin? Key agencies tackle food security, economic dev’t post-SONA 2025

https://www.youtube.com/live/hXRnysWZ6SM?si=GGc-0MxxrP1SXsvE By Brian Campued President Ferdinand R. Marcos Jr. has reported the situation of the country—along with his administration’s progress, gains, and challenges in the past...

PBBM lauds improvements in PH labor market

By Dean Aubrey Caratiquet President Ferdinand R. Marcos Jr. praised the wide-ranging achievements made by his administration on bolstering the country’s domestic labor market over...