The International Monetary Fund (IMF) has relayed to the country’s economic managers the multilateral institution’s “very optimistic” growth outlook on the Philippines owing to the economy’s continued “impressive” performance.
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Finance Secretary Carlos Dominguez III said the proposed comprehensive tax reform program of the Duterte administration will serve as the fiscal buffer that would enable the government to pursue its expansionary economic policy anchored on an ambitious “Build, Build, Build” infrastructure program consisting of some 75 major flagship projects that would either be completed or started over the next five years.
Read MoreFinance Secretary Carlos Dominguez III said the move by Macquarie Infrastructure Management (Asia) Pty Ltd and Arran Investments to pump P65 billion into the Philippine energy sector is a vote of trust and confidence by foreign investors in the Duterte administration and its socioeconomic reform agenda anchored on high and inclusive growth.
Read MoreThe Department of Finance (DOF) has found a new champion in the person of Miss Earth Philippines Karen Ibasco for its proposal under the tax reform bill to gradually increase excise taxes on petroleum products, which, she said, will help transition the economy from the use of fossil fuels to renewable energy (RE) sources.
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