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Recent Fiscal Development in the Philippines

Author

Listed:
  • Cayetano W. Paderanga, Jr.

    (School of Economics, University of the Philippines Diliman)

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.

Suggested Citation

  • Cayetano W. Paderanga, Jr., 2001. "Recent Fiscal Development in the Philippines," UP School of Economics Discussion Papers 200110, University of the Philippines School of Economics.
    • Handle: RePEc:phs:dpaper:200110
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    File URL: http://www.econ.upd.edu.ph/dp/index.php/dp/article/view/84/75
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    Cited by:

    1. Qin, Duo & Cagas, Marie Anne & Ducanes, Geoffrey & Magtibay-Ramos, Nedelyn & Quising, Pilipinas, 2006. "Empirical assessment of sustainability and feasibility of government debt: The Philippines case," Journal of Asian Economics, Elsevier, vol. 17(1), pages 63-84, February.
    2. Qin, Duo & Cagas, Marie Anne & Ducanes, Geoffrey & Magtibay-Ramos, Nedelyn & Quising, Pilipinas, 2006. "Empirical assessment of sustainability and feasibility of government debt: The Philippines case," Journal of Asian Economics, Elsevier, vol. 17(1), pages 63-84, February.

    More about this item

    Keywords

    fiscal balance; Philippine economy;

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