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NEWS UPDATES Asean Affairs    July 10, 2017  













PHL ready to fund infra spending – Dominguez

Despite the watered-down version of the tax reform package approved by the House of the Representatives, Finance Secretary Carlos G. Dominguez III on Thursday said the Philippines is prepared to fund its ambitious infrastructure program.

"We are ready to fund the 'Build, Build, Build' infrastructure program that will ensure robust growth for the economy and more inclusive growth pattern and dramatic reduction in poverty incidence by 2022," he said in a briefing in Malaca?ang on Thursday.

As approved by the House of Representatives on May 31, the Tax Reform for Acceleration and Inclusion would generate net gains of P133.8 billion in the first year. The original tax reform bill version of the Department of Finance was envisioned to generate P162 billion.

The government plans to spend as much as P8.4 trillion to finance the "golden age of infrastructure" over the next six years, with P860.7 billion allocated to large-scale projects this year.

Budget Secretary Benjamin M. Diokno said that funding will be sourced largely from tax revenue.

"The bulk will be tax-financed, others will be debt-financed," he said in February.

Also on Thursday, Diokno said infrastructure spending will grow by at least 90 percent this year, with expenditures up 38.1 percent at P46.2 billion in May from the previous month.
Despite the watered-down version of the tax reform package approved by the House of the Representatives, Finance Secretary Carlos G. Dominguez III on Thursday said the Philippines is prepared to fund its ambitious infrastructure program. "We are ready to fund the 'Build, Build, Build' infrastructure program that will ensure robust growth for the economy and more inclusive growth pattern and dramatic reduction in poverty incidence by 2022," he said in a briefing in Malaca?ang on Thursday. As approved by the House of Representatives on May 31, the Tax Reform for Acceleration and Inclusion would generate net gains of P133.8 billion in the first year. The original tax reform bill version of the Department of Finance was envisioned to generate P162 billion. The government plans to spend as much as P8.4 trillion to finance the "golden age of infrastructure" over the next six years, with P860.7 billion allocated to large-scale projects this year. Budget Secretary Benjamin M. Diokno said that funding will be sourced largely from tax revenue. "The bulk will be tax-financed, others will be debt-financed," he said in February. Also on Thursday, Diokno said infrastructure spending will grow by at least 90 percent this year, with expenditures up 38.1 percent at P46.2 billion in May from the previous month.


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This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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