The pace of growth in the prices of goods and services that households commonly purchase remains a key concern, such that state economic managers now assume inflation to average higher this year than they did four months ago. | RonWDomingoINQ /PDI
Earlier this month, the Philippine Statistics Authority said inflation averaged at 8.3 percent in the first quarter.
The monthly print eased for the second month in a row from 8.7 percent in January through 8.6 percent in February to 7.6 percent in March. Back then, considering the readout, Secretary Arsenio Balisacan of the National Economic and Development Authority said that while inflation was beginning to slow down, it remained the most pressing issue that the government must monitor and urgently address.
On Monday, Budget Secretary Amenah Pangandaman said in a media briefing the latest DBCC assumptions also pointed to yearly average inflation receding back to the target range of 2 to 4 percent starting next year until 2028.
The committee now expects revenues to improve yearly from P3.73 trillion in 2023 to P6.62 trillion in 2028.The assumption is that seven tax reform measures would have been implemented starting in the next two years, although Finance Secretary Benjamin Diokno noted that all of these are still pending in Congress.INQUIRER.net wants to hear from you! Take part in our reader survey and help us be better. Click on this image to answer.
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