issues and problems in fiscal policy and development

Issues and Problemsin Fiscal Policy and Development

PA 231Rosalie A. Molina

According to Case & Fair, 2011

Fiscal Policy refers to the government’s decisions about how much to tax and spend.

Overview of the Country’s Fiscal PolicyMarcos administration was primary focused on

indirect tax collection and on government spending on economic services and infrastructure development.

The first Aquino administration inherited a large fiscal deficit from the previous administration, but managed to reduce fiscal imbalance and improve tax collection through the introduction of the 1986 Tax Reform Program and the value added tax.

Overview of the Country’s Fiscal PolicyThe Ramos administration experienced budget

surpluses due to substantial gains from the massive sale of government assets and strong foreign investment in the early years.

the Arroyo administration, the Expanded Value Added Tax Law was enacted, national debt to GDP ratio peaked and underspending on public infrastructure and other capital expenditure was observed.

Overview of the Country’s Fiscal Policy

Pnoy Aquino administration faced fiscal deficit yet managed to raise up the country’s GDP.

CURRENTISSUES AND PROBLEMS

CURRENT ISSUES AND PROBLEM

BUDGET DEFICIT

CURRENT ISSUES AND PROBLEM

INEFFICIENCYIN

BUDGETALLOCATION

CURRENT ISSUES AND PROBLEM

TAX COLLECTION

CURRENT ISSUES AND PROBLEM

PORK BARREL

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