Recent Fiscal Development in the Philippines

Cayetano Paderanga

No 200110, UP School of Economics Discussion Papers from University of the Philippines School of Economics

Abstract: The Philippine fiscal picture shows an economy that has not yet achieved sustainable long-term fiscal balance. It had taken major steps in this direction from 1990 to 1996. However, since the Asian Crisis, the picture has deteriorated. The tax ratio has declined, the fiscal balance has turned to negative and has widened, and the public debt reached a level that is not sustainable given reasonable forecasts of inflation, interest rates and the real economic growth rate. To return to a sustainable fiscal situation, the government may have to implement some difficult policies and programs.

Keywords: fiscal balance; Philippine economy (search for similar items in EconPapers)
Pages: 50 pages
Date: 2001-10
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Citations: View citations in EconPapers (2)

Published as UPSE Discussion Paper No. 2001-10, October 2001

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Persistent link: https://EconPapers.repec.org/RePEc:phs:dpaper:200110

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