- Over the long-term, all these investments require additional funds of around 1 trillion pesos per year in 2016 prices on top of the current 1.7 trillion pesos.
- Over the medium term, the government will need to raise some 366 billion per year between 2016 and 2022 (or 2.2 trillion pesos in total).
|Current and Additional investment needed per year (billions of pesos)|
|Investment category||2016 GAA||2022 target||Additional over the next 6 years|
|Education and Training||551||1,269||718|
|Social protection, welfare, employment||242||509||267|
**Total does not add up due to rounding off
Source: Department of Finance
- This can be sustainably achieved through tax reform, which is integral to the larger goals of the administration and crucial for achieving the vision of a prosperous country.
- In addition, complementary economic reforms are crucial: secure property rights, enhance competition, improve food security, and simplify regulations.