How to achieve the vision

  • 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
Infrastructure 759 1,832 1,073
Education and Training 551 1,269 718
Health 133 272 139
Social protection, welfare, employment 242 509 267
Total** 1,685 3,882 2,197
*Indicative and subject to change
**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.