ECONOMIC managers on Thursday approved revisions to the country's medium-term macroeconomic assumptions and fiscal program, including a weaker peso outlook for this year and a higher 2025 national government budget.
ECONOMIC managers on Thursday approved revisions to the country's medium-term macroeconomic assumptions and fiscal program, including a weaker peso outlook for this year and a higher 2025 national government budget.The growth target for this year was kept at 6.0-7.0 percent, as were those for 2025 and 2026-2028 .The inflation outlook, however, was narrowed to 3.0-4.0 percent for 2024 from 2.0-4.0 percent previously. The rate still seen hitting 2.0-4.0 percent in 2025 up to 2028.
Fiscal programThe revenue assumption for 2024 was kept at P4.27 trillion, but those for 2025 to 2028 were raised to P4.644 trillion, P5.063 trillion, P5.627 trillion and P6.249 trillion from P4.583 trillion, P4.957 trillion, P5.488 trillion, and P6.078 trillion, respectively.The DBCC said this would be propelled by 'enhanced tax administration reforms centered on digitalizing the Philippine tax system and improving collection efficiency.
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