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TAX administration won’t cut it. So said the government’s chief economist who mused that taxes on idle assets and pollution should be explored to raise additional revenues, which are needed for productivity-enhancing measures. In a briefing last Wednesday, Socioeconomic Planning Secretary Arsenio M. Balisacan said the latter are just among…
THERE can be no doubt about the capability of efficient tax collection in raising revenues, but in the Philippines, local economists said this could mean growth-hurting austerity measures and mounting debts while the government tries to make tax collection more efficient. Former National Economic and Development Authority (Neda) Secretary Dante…
The country’s lackluster external trade performance in October 2023 reflected not only the challenges faced by the global economy but also the deep-seated issues stemming from the country’s industrial policy or lack thereof, according to local economists. On Tuesday, the Philippine Statistics Authority (PSA) disclosed that the country’s export earnings…
POOR-QUALITY jobs and the scarring effects left by the pandemic have reduced the country’s long-term growth potential to only 6 percent, according to the Asean+3 Macroeconomic Research Office (Amro). In its Annual Consultation Report for the Philippines, Amro said this was a reduction of 2 percentage points from the initial…
FILIPINOS trying their best to keep up with rising prices led to the slowest consumption growth in two years, according to local economists. On Thursday, the Philippine Statistics Authority (PSA) announced that the country’s GDP grew 5.9 percent in the third quarter. This was faster than the 4.3 percent growth…