Reforms needed to brace PH against fiscal shocks – NEDA

The ongoing series of fiscal and governance reforms is an essential component of the revised five-year Philippine Development Plan to ensure that public spending will create jobs and help further strengthen the economy’s resilience against natural shocks, Economic Planning Secretary Arsenio Balisacan said.

Explaining the Philippines’ economic program at the First High-Level Meeting of the Global Partnership for Effective Development Cooperation in Mexico last week, Balisacan said the government is seeking to widen the tax base, prosecute and jail tax evaders, raises taxes on “sin” products, and fight corruption.