NG eyes asset sale, other means to fill P1.686-T gap in budget funding source

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NG eyes asset sale, other means to fill P1.686-T gap in budget funding source - Business Mirror

Quick Summary:

DESPITE the trillions that the government intends to collect from tax and non-tax sources next year, the Department of Finance (DOF) said it can only raise P4.64 trillion of the national budget.

While this represents 73.35 percent of the P6.326-trillion budget for next year, this still leaves a P1.686-trillion gap that the national government needs to raise through other means.

In sustaining this momentum, the Finance Chief stressed the government will continue to adhere to its Medium Term Fiscal Program that reduces the deficit and debt gradually in a realistic manner; while creating more jobs, increasing our people’s incomes, and decreasing poverty in the process.