Weak peso seen helping BOC surpass 2024 target

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Weak peso seen helping BOC surpass 2024 target - Business Mirror

Quick Summary:

THE Bureau of Customs (BOC) is confident it will be able to collect P20 billion to P30 billion more in revenues on top of its P939.7-billion target collection for 2024 due to a weak peso.

The BOC has collected P456.053 billion in revenues in the first half of 2024, surpassing its P442.621-billion target for the period by 3.03 percent, based on preliminary reports.Treasury raises P22.

However, he was quick to add that it is a “give-and-take situation” since a weaker peso would translate to a “more conservative” approach for some of the importers and exporters.“Hopefully, we reach a little less than the P1 trillion; [but] pf we can reach a trillion, it is so much better,” Maronilla said.