The focus of the proposed 2023 P5-trillion national budget is recovery from revenue generation, Senate President Juan Miguel Zubiri said.
In a briefing for Senate reporters, Zubiri said the country is facing a deficit for 2023 and is thus forced to borrow to pay for expenditures.‘’The direction is first of all, thrifty; and save where they can save. continue revenue collection plugging the leakages,’’ he stressed.He said that Filipinos face the prospect of ‘’belt tightening and fight inflation.’’
‘’This phenomenon is not only in the Philippines. Ang inflation ay di lang sa bansa kundi sa region, Thailand, Malaysia, Indonesia ,’’ he pointed out. Zubiri said rallies are being staged in Indonesia because it could no longer subsidize the high price of oil.‘’Obviously external forces po ito, pagmahal ng fuel, krudo, kuryente dahil sa gyera sa Ukraine, regional instability ,’’ he added.
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