President-elect Ferdinand 'Bongbong' Marcos Jr.'s government will prioritize the recovery of the country's pandemic-battered economy, according to incoming Socioeconomic Planning chief Arsenio Balisacan.
President-elect Ferdinand "Bongbong" Marcos Jr.'s government will prioritize the recovery of the country's pandemic-battered economy, according to incoming Socioeconomic Planning chief Arsenio Balisacan.
“Si presidente [Marcos] marami na ring mga utos lalo na ‘yung pag-address sa mga problema natin ngayon nasa kalagitnaan tayo ng krisis sa mundo lalo na ang pagtaas ng mga presyo at meron pang ongoing uncertainty sa COVID-19 so malaki ‘yung challenges natin,” he added. According to Balisacan, the solution to the "scarring" on the economy caused by the pandemic is to accelerate recovery.
The fiscal consolidation plan involves implementing new taxes, deferring personal income tax reductions, and expanding the value added tax base.
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