Tawiden ti sumaruno a presidente ti naindaklan a panagbalbaliw ti ekonomia”
Ilokano: Ti nagsapalan nga agturong iti naprogreso a Pilipinas
Significant economic reforms that Rodrigo Duterte’s administration achieved during his term will stand to benefit the country’s next president if the latter understands the good fortune brought in his/her way, and does not negate the intent of the reforms by contrary actions.
Ilokano: Dagiti dadakkel a nagun-odan a reporma ti ekonomia ti administrasion ni Presidente Rodrigo Duterte ket dakkel a bentahe ken pangrugian iti sumaruno a presidente ti Pilipinas no daytoy ket maawatanna ti naipasaklot a gasat kenkuana ken saanna a supiaten ti annayasna.
Duterte’s economic reform achievements. During much of his term of office, popular support for President Duterte was high. Despite the fact that his main programs were more focused on issues of peace and order, the war against drugs, and other political issues, his accomplishments on economic reform legislation surpasses those that recent leaders have been able to accomplish.
Ilokano: Dagiti nagun-odan a reporma ti ekonomia babaen kenni Duterte. Nangato ti popularidad ni Presidente Duterte kabayatan iti panagtakemna. Iti laksid a ti nakaisentroan iti programana ket maipanggep iti linak ken talna, laban iti droga, ken dadduma pay nga issue politika, dagiti naaramidanna iti pannakaitandudo iti ekonomia ket mabalin a labsanna pay dagiti naaramidan dagiti naglabas a pangulo ti pagilian.
Upon assumption in office, President Duterte pushed the focus on strengthening the infrastructure building program by speeding up the decision-making procedures and by increasing the available project choices in the Build Build Build program.
Ilokano: Iti panagtugawna a kas presidente, intandudona iti pannakaipasdek dagiti adu nga imprastraktura babaen iti napaspas a proseso iti panag-decision ket napondoan iti dadakkel a Build Build Build program.
To strengthen the fiscal base, a program of tax reform accomplished with great speed the revenue-raising reforms that permitted higher budgetary public spending. Unlike in the past when budgetary politics was a cause of major delays in funding government programs, the yearly national budget under Duterte’s government was swiftly passed and without undue delays by Congress.
Ilokano: Tapno bumileg pay ti pamastrekan, pinapaspasna ti garaw ti pannakaiparuk-at dagiti pondo para kadagiti proyekto ti gobierno ket alisto a naipasa ti Kongreso ti national budget.
Quicker decision-making that involved the infrastructure and social programs undertaken by the government was matched by the accomplishments in economic reform legislation.
Ilokano: Ti napaspas a panagdesision panggep iti pannakaipatungpal dagiti proyekto imprastraktura ken dadduma pay a programa ket maiyataday la unay iti napanday a reporma ti ekonomia.
Significant legislation covered major areas: (1) Tax reform. (2) Investment incentives reforms. (3) Food security issue, especially with import policy and, (4) amendments to liberalize the attraction of foreign direct investments into the country, specifically in regard to, namely, the retail trade law; the public service act, and the foreign investment law.
Ilokano Translation: Dagiti napapateg a reporma ti ekonomia ket isu dagiti sumaganad: (1) Reporma iti buis, (2) Reporma iti alisto a panagnegosio, (3) Seguridad ti makan kangrunaanna iti panaganggkat iti ballassi taaw, ken (4) ti nawaya a panag-negosio kas koma iti retail trade law, public servie act, ken foreign investment law.
The economic reforms were not easy. These legislative reforms were not achieved at the same speed in becoming laws of the land. There was great resistance to their passage. Strong interests blocked progress, especially in the Senate. Progress in the legislation was achieved only at the cost of compromise. Only the tax reform to improve revenues was undertaken with remarkable speed in passing Congress. The legislation on food security (or the Rice Tariffication Law, which abolished the NFA importation monopoly on rice) became law only by the fourth year of the Duterte administration, also, with great resistance.
Ilokano: Dagitoy a reporma ti ekonomia ket saan a nalaka a nagun-od gapu ta adu iti dimmalananna ken adda dagiti saan nga umanamong kangrunaanna iti Senado. Ngem gapu iti nasayaat a saritaan, naurnos met laeng dagitoy a dakkel ti subadna. Ti laeng alisto a naipasa ket ti reporma ti buis. Ti pannakapanday ti seguridad ti makan wenno ti Rice Tarrification Law a nangikkat ti NFA monopoly iti panagangkat ti bagas iti ruar ti pagilian ket nagbalin laeng a linteg iti maikapat a termino ni Duterte, ken adu ti simmupiat.
These two major reforms, however, have already shown significant beneficial impact. The tax reform or (1) has substantially raised the level of government finances. It involved the reduction of high individual income tax rates and the increase of excise taxes on energy and on “sin” taxes, which were mainly on tobacco, e-cigarettes and alcohol.
Dagiti dua a napapateg a reporma ket makitan ti dakkel nga epektona. Ti pannakaipangato ti singir ti buis ket dimmakkel met ti pondo ti gobierno. Paset daytoy ti pannakaikabassit ti singir ti buis kadagiti mangmangged ken pannakaingato ti excise tax panggep iti enerhia ken “sin” taxes kas koma iti tabako, e-cigarretes ken alkohol.
The tax reform helped to expand government spending capacity, both for ordinary needs of the government and to generate support of the public investment programs. It has enabled contributing substantially to the financing of the Build Build Build program.
Ilokano: Ti reporma ti buis ket timmulong iti napalawa a pannakaited iti servizio publiko, raman dagiti ordinario a kasapulan ti gobierno ken ti pannakaibanag dagiti daddakel nga imprastraktura ti gobierno kas iti Build Build Build program.
The reform on food security or (3), has helped to stabilize the domestic price of rice at retail by steadying the nation’s rice supplies through competition among by importing private traders. Before, the government’s sporadic and periodic decisions on rice imports only created artificial scarcities that bred undeserved rents and profits for those favored by the regulations of the government agency (NFA) and the loss of government revenues while precipitating instability of the retail price of rice, the nation’s principal food staple.
Ilokano: Ti pannakaipakat ti reporma ti seguridad ti makan ket dakkel a tulong iti pannakabalanse ti presio ti irik gapu iti kompetision dagiti agang-angkat ti bagas a pribado a negosiante. Idi, dagiti laeng negosiante a mapabpaboran iti regulasion ti NFA ti aglaklak-am gapu iti artificial shortage no kasta nga ag-desision ti gobierno a kasapulan iti panagangkat ti bagas, ti kangrunaan a kanen dagiti Pilipino.
We face the presidential elections this May with rice prices being much more stable and secure for 110 million Filipinos.
Ilokano: Sangwentayo iti umay a Mayo ti panagpili iti sumaruno a Presidente a mas kampante ken seguro ti presio ti bagas para kadagiti 110 million a Pilipino.
With the abolition of the government import monopoly, the government now collects tariff revenues on the imported rice (at 30 percent ad valorem). A major part of the revenues collected go back as support to the domestic rice industry to improve its productivity, including help to poor farmers.
Ilokano: Gapu ta awanen iti monopoly ti panagangkat ti bagas iti ballasiw-taaw, umad-adu met iti agarup 30 porsiento ti mapaspastrek ti gobierno a taripa gapu iti iseserrek ti imported rice iti pagilian. Kas resulta, kadakkelan a paset ti sumsumrek a taripa ket maipapaay a tulong kadagiti babassit a mannalon ket matulonganda no kasano nga umado pay ti maapitda a saan laeng a pagay ti maimula.
The other economic reforms will find major implementation of their provisions only as the next president of the country reaps the benefits that can come from them.
Ilokano: Dagiti dadduma pay a reporma iti ekonomia ket maimplementar iti panagtakem ti sumaruno a presidente ti pagilian ket isu iti agapit kadagitoy a banepisio.
The reform of investment incentives or (2), took three years of material time to pass Congress. Inevitably, the reform of investment incentives is integral to the comprehensive tax reform program. The objective of the reform was to rationalize the numerous investment incentives and to make them more accountable and transparent in promoting new investments. The fiscal investment incentives are mainly, but not entirely, taken against the corporate income tax by incentive-receiving business entity. They are an aspect of tax reform.
Ilokano: Ti reporma iti pannakaipaay ti insentibo kadagiti agpupuonan ket dimmalan iti tallo a tawen sakbay a naipasa iti Kongreso. Ket dakkel unay daytoy a tulong iti pannakaipatungpal ti reporma iti buis. Kangrunaan a gagem ti reporma ket iti panagbalin a nalawag ken responsable ti pannakaiwanwan ti negosio tapno ad-adu pay iti maguyugoy nga agpuonan.
As finally enacted, the corporate income tax rate was reduced from the 30 percent effectively to 25 percent for most businesses. However, further incentives granted to small and medium enterprises reduces the effective tax to 20 percent. The net effect of this reform is to improve the country’s corporate tax rate to be more competitive with the lower prevailing tax rate in the ASEAN by reducing the gap in rates.
Ilokano: Basar iti naaprobaran a linteg, ti income tax rate dagiti dadakkel a pasdek negosio ket bimmaba manipud iti 30 a porsiento ket nagbalin a 25 a porsiento. Ken ad-adu pay nga insentibo iti maipapaay kadagiti babassit a negosio gapu ta bimmaba pay iti bayadanda a buis agingga iti 20 a porsiento. Balligi daytoy a wagas gapu ta nagbalin a mas competitive iti panagnegosio iti pagilian no ikumpara iti sabsabali pay a pagilian iti ASEAN.
The fourth and final set of reforms have to do with easing the barriers to entry of foreign direct investments in the country. They are designed to reduce the restrictive and protective policies on foreign investments that have contributed in making the Philippines a laggard in this economic area.
Ilokano: Ti maikapat ken kaudian a reporma ket ti al-alisto nga iseserrek dagiti diretso nga agpuonan iti Pilipinas manipud iti ballassiw taaw. Napanday dagitoy a linteg tapno maprotektaran dagiti agpupuonan a ganggannaet ket dakkel a tulong daytoy iti panagprogreso ti pagilian.
In the last legislative session having to do with his presidency, the two houses of Congress have finally agreed to enact the three important pieces of legislation that President Duterte had recommended as urgent.
Ilokano: Iti kaudian a sesion ti kamara ket pimmasan dagitoy a linteg babaen iti panangirekomenda ti presidente a mapapaspas dagitoy a gakat.
The amendment to the Retail Trade Law has just recently been signed. The amendment to the Public Service Act and to the Foreign Investment Incentives Law are shortly to be signed by the president into law.
Ilokano: Ti pannakaamendar ti Retail Trade Law ket naaprobaran metten itay laeng kallabes. Sumarsaruno ti pannakamendar ti Public Service Act ken ti Foreign Investment Incentives Law.
In short, the main responsibility for implementing the new laws easing the entry of FDIs into the country will be on the lap of the next president.
Ilokano: Iti ababa a pannao, ti kangrunaan a mabenepisyaran kadagitoy a kabbaro a linteg ket maipasaklot iti sumaruno a presidente.
The next president will still be challenged. Not all is golden, however, for the next president. Even though the reforms are battles won through legislation, the chance that opponents to some provisions of law, especially in the case of the Public Service Act, will raise the issue of constitutionality. This is the old game of delay and destruct.
Ilokano: Agur-uray ti naruay a pannubok iti sumaruno a presidente. Saan nga amin ket balitok a maipasaklot kenkuana. Nupay dagitoy a kabbaro a linteg ket naipasan, adda latta gundaway a saan nga anamongan daytoy dagiti adda iti bangir a partido kangrunaan ti Public Service Act a mabalin a makuestionaran ti pannakaimplementarnanto. Daytoy tay makunkuna a kadaanan nga ay-ayam iti panangitantantan ken panangperdi.
The next president, therefore, will have to be fortified with good leadership qualities to overcome such challenges.
Ilokano: Ngarud, kasapulan a nasiglat ken nalaing a mangidaulo ti sumaruno a presidente tapno malabananna dagitoy a karit ti lideratona.
Read the original article on The Philippine Star: https://www.philstar.com/business/2022/02/09/2159430/next-president-will-inherit-significant-economic-reforms
Filipino translation by:
Leilani Adriano
Philippine News Agency
