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  • Öffentlicher Haushalt  (4)
  • 2000-2004  (4)
  • 1
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    Makati City: Philippine Institute for Development Studies (PIDS)
    Publication Date: 2016-02-19
    Description: This study presents a four-part evaluation of the President’s Budget (PB) for 2002. First, it shows that the speed of fiscal consolidation that is envisioned in the President’s Budget for 2002 will not be achieved. In particular, the fiscal deficit targets that are set in the proposed budget will be exceeded by P7.2 billion in 2001 and by P29.3 billion – P46.6 billion in 2002. Second, the study highlights the urgent to improve the revenue performance of the national government if it is to break free from the fiscal bind that severely restricts its policy stance. The paper likewise makes an assessment of the tax measures proposed by the Arroyo administration in this regard including the controversial shift to gross income taxation. Third, the fiscal outlook in 2001 and 2002 also underscores the squeeze on national government’s nonmandatory expenditures and the ensuing difficulties in providing for the budgetary requirements of economic growth and poverty alleviation that becomes apparent when the Arroyo administration’s expenditure priorities are assessed relative to the policy pronouncements and the overarching imperative for economic growth and poverty alleviation. Fourth, the study analyzes the issues that emerge from the use of innovative and creative modes of financing the fiscal deficit and the expenditure requirements of the national government. These new approaches include arrearages, zero-coupon bonds, and securitization of government assets. Because they have rendered the orthodox way of measuring the fiscal deficit less meaningful, their evolution have accentuated the need for greater transparency in the fiscal accounts.
    Keywords: ddc:330 ; fiscal deficit ; fiscal sustainability ; arrearages ; zero coupon bonds ; securitization ; Öffentlicher Haushalt ; Haushaltsdefizit ; Philippinen
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 2
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    Makati City: Philippine Institute for Development Studies (PIDS)
    Publication Date: 2016-02-19
    Description: The government budget may be viewed as the financial mirror of society's economic and social choices, but does the budget contribute to the attainment of the overall objectives of economic policy, namely, growth, equity and stability? For government to be able to function and fulfill its role, it must collect sufficient resources and allocate and use these resources efficiently and effectively. In this regard, any assessment of the government budget cannot proceed without an implicit recognition of the integral relationship between revenue and expenditures, the two principal elements of fiscal policy. Thus, the analysis in this paper assesses not only expenditure program but also the revenue program of the President's budget for 2001. In particular, the President's budget proposal is evaluated in terms of two principal objectives of a good public expenditure management: fiscal discipline and strategic allocation of resources.
    Keywords: ddc:330 ; fiscal management ; fiscal policy ; fiscal sector ; Öffentlicher Haushalt ; Haushaltsplanung ; Philippinen
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 3
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    Makati City: Philippine Institute for Development Studies (PIDS)
    Publication Date: 2016-02-19
    Description: The President’s Budget for 2004 is the administration’s last prior to the forthcoming presidential elections in May 2004. Thus, it is but timely to assess not only the proposed 2004 budget itself but also the present administration’s fiscal performance in the last three years. The evaluation of the President’s Budget for 2001-2004 that is presented in this paper is composed of three parts: (i) an evaluation of the overall fiscal outlook as projected in the President’s Budget in terms of its sustainability; (ii) an examination of its revenue program; and (iii) the congruence of the expenditure program with policy pronouncements and budgetary intent as articulated in the Medium-Term Development Plan (MTPDP). This paper also highlights why it is critical to always have a comprehensive picture of the public sector. It documents how the positive fiscal outlook for the national government in 2003-2004 masks the rapid deterioration in the fiscal position of the nonfinancial public sector mainly because of the huge losses registered by a number of GOCCs. While the nonfinancial public sector in the aggregate is projected to have a small primary surplus in 2004 after posting primary deficits in 2002-2003, its consolidated fiscal position is deemed to be unsustainable in 2003-2004. The solutions to this problem are not easy: increasing tariffs, privatization and regulatory reform.
    Keywords: ddc:330 ; fiscal deficit ; tax effort ; fiscal sustainability ; nonfinancial public sector ; Öffentlicher Haushalt ; Haushaltsdefizit ; Philippinen
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 4
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    Makati City: Philippine Institute for Development Studies (PIDS)
    Publication Date: 2016-11-24
    Description: This study presents an evaluation of the President’s Budget for 2003. First, it shows that the fiscal targets set out in the administration’s Budget of Expenditures and Sources of Financing (BESF) for 2003 are not likely to be met. In particular, the fiscal deficit target of P130 billion (or 3.3% of GDP) for 2002 will be exceeded by P93 billion (or 2.4% of GDP). Thus, the paper projects that the national government’s fiscal position will weaken from a deficit of 4.1% of GDP in 2001 to a deficit of 5.6% of GDP in 2002. In like manner, the fiscal deficit target of P142.1 billion (or 3.3% of GDP) in 2003 will also be exceeded by P34 billion – P64 billion (or 0.8% - 1.5% of GDP). While the government was able to run high deficits in the last three years without hurting macroeconomic stability, danger signs have begun to emerge. On the one hand, outstanding debt of the national government has been rising rapidly, from 65.5% of GDP as of December 2001 to 68.2% as of August 2003. On the other hand, while interest rates have remained low, the yield curve on government securities is steep indicating that inflationary expectations are high. Second, the problem with the fiscal deficit stems largely from the continuous slide in tax effort. Undoubtedly, evasion continues to be a major source of the leakage in revenues and the situation appears to have worsened in 2001. However, closer analysis indicates that weaknesses in tax structure (nonindexation of excise taxes and proliferation of tax incentives) also need to be addressed. Third, in the near term, fiscal consolidation cannot be achieved unless corrections on the revenue side are effected as government expenditures have already been cut to the bone. Although the expenditure program for 2003 is P34.4 billion (or 4.5%) larger than the obligation program for the previous year, national government services in 2003 are expected to be severely constrained as non-mandatory expenditures (i.e., total national government expenditures net debt service, transfers to LGUs and pensions/retirement gratuity) are programmed to decline by 1.4% relative to the 2002 level. This means that many government agencies, including those in the social service sectors, will have to work with smaller budgets in 2003.
    Keywords: ddc:330 ; fiscal deficit ; tax effort ; fiscal sustainability ; expenditure program ; tax evasion ; Öffentlicher Haushalt ; Haushaltsdefizit ; Philippinen
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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