Ben Kritz hits government for being “completely adrift when it comes to economic policy and management” and his reason is that “the estimated second quarter GDP growth xxx figure is almost 10 percent higher than the actual GDP result. Kritz should be informed that government’s targets are annual and quarterly actuals may depart from this level. While the economy expanded less than the target, it can still catch up in the second half since many of the projects in the Build Build Build program are scheduled for full implementation in the second half. Note that the NG deficit in the first half is only 2.3% of GDP. Also, economic policy and management involves more complicated issues than formulating targets and therefore should not be made the basis for effectiveness.
Read MoreFinance Secretary Carlos Dominguez III said the Philippines continues to be among the best performing economies in Asia on the strength of higher foreign direct investment (FDI) inflows and rising capital formation.
Read MoreBEIJING—The Philippines has invited China to take part in the country’s pledging session set in November to drum up international support for the recovery and rehabilitation program for the damaged city of Marawi in Mindanao.
Read MoreThe Department of Finance (DOF) has made good on its commitment to submit to the Congress the remaining packages of the Duterte administration’s comprehensive tax reform program (CTRP), whose overriding goal is to make Philippine taxation fully transparent, more efficient and a lot simpler especially for ordinary Filipinos and small businesses.
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