Home National News Economic team, agencies hailed for admin's fiscal performance

Economic team, agencies hailed for admin’s fiscal performance

By  Azer Parrocha

 

MANILA — Malacañang hailed on Thursday President Rodrigo Duterte’s economic team and revenue-generating agencies for the administration’s strong fiscal performance in the first semester of 2019.

The Duterte administration’s revenues rose by 9.7 percent during the said period with tax revenues growing by 10.1 percent.

Meanwhile, revenues collected by the Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC) jumped by 10.6 percent and 8.5 percent, respectively.

“The Palace commends the members of the economic team, led by Finance Secretary Carlos Dominguez, for the strong fiscal performance we displayed in the first semester of 2019,” Panelo said in a statement.

“The Office of the President expresses its kudos to the revenue-generating agencies for a job well done with the collections of the Bureau of Internal Revenue rising by 10.6 percent and the Bureau of Customs by 8.5 percent,” he added.

Panelo, meanwhile, thanked Filipinos for their sacrifices as the government pursued its comprehensive tax reform program and will implement its remaining packages once they are passed.

“We recognize and thank our people for their sacrifices as we continue to implement the second phase of TRAIN 1 (Tax Reform for Acceleration and Inclusion) and other tax measures,” Panelo said.

He also assured the public that the administration will reinvigorate the domestic economy for the succeeding semester with its adoption of a “catch-up” program.

The catch-up program is expected to help the economy grow by over 6 percent after a four and half month delay in the approval of the 2019 national budget and an election ban on public construction activities.

“Filipino taxpayers can expect that we will utilize their hard-earned money with wide and far-reaching social amelioration programs in education, health, and other basic needs, as well as enhanced investments in local infrastructure that will boost the nation’s domestic growth,” Panelo said. (PNA)

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