Philippines' Fiscal Plan to Focus on Tax Administration, Diokno Says

The video discusses the depreciation of the Philippine peso and its impact on the economy, including effects on exports and imports. It covers monetary policy divergence from the US Federal Reserve and the importance of real interest rates. The discussion shifts to the Philippines' debt levels, fiscal space, and credit ratings post-pandemic. Economic growth forecasts are analyzed, with strategies to address inflation. Finally, the fiscal consolidation plan is outlined, focusing on tax administration and public-private partnerships.

What is one of the benefits of a depreciated peso for the Philippines?

• Lower oil import costs

• Increased competitiveness of exports

• Higher interest rates

• Cheaper imported goods

How does the Philippines' monetary policy differ from that of the Federal Reserve?

• The Philippines has higher inflation than the US

• The Philippines focuses on real interest rates

• The Philippines matches the Fed's interest rate changes

• The Philippines has a lower debt-to-GDP ratio

What was the debt-to-GDP ratio of the Philippines before the pandemic?

• 300%

• 100%

• 63%

• 39.6%

What is the expected GDP growth rate for the Philippines in the current year?

• 5% to 6%

• 6% to 7%

• 7% to 8%

• 8% to 9%

What is the Philippines' strategy to manage its debt-to-GDP ratio?

• Reduce public spending

• Focus on short-term growth

• Increase borrowing

• Achieve long-term growth of 6% annually

What is a key focus of the Philippines' fiscal consolidation plan?

• Increasing taxes significantly

• Decreasing foreign investment

• Improving tax administration

• Reducing public-private partnerships

What is the purpose of the Public Service Act reform mentioned in the transcript?

• To reduce government spending

• To open new areas for 100% foreign ownership

• To increase public sector jobs

• To limit foreign ownership