Title: Recent fiscal developments in the Philippines
Abstract: The Philippine fiscal picture shows an economy that has not yet achieved sustainable longterm fiscal balance. It had taken major steps in this direction from 1990 to 1996. However, since the Asian Crisis, the picture has deteriorated. The tax ratio has declined, the fiscal balance has turned to negative and has widened, and the public debt reached a level that is not sustainable given reasonable forecasts of inflation, interest rates and the real economic growth rate. To return to a sustainable fiscal situation, the government may have to implement some difficult policies and programs. OUTLINE
Publication Year: 2001
Publication Date: 2001-01-01
Language: en
Type: book
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Cited By Count: 2
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