05 Jul Development Budget Coordination Committee to Review Government’s Economic Target and Duterte’s National Budget
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To gather on July 5, Tuesday, is the Development Budget Coordination Committee (DBCC) which is going to review President Rodrigo Duterte’s first national budget and the government’s economic targets.
Composed of Duterte’s economic team, the DBCC will review the government’s targets, medium term macroeconomic and fiscal, for this year up to year 2022, and also, the proposed national budget for the year 2017.
The planned tax reform package is also expected to be discussed by the economic managers, possibly to include the imposing of additional taxes on sugary and sweetened beverages, and reduction of personal and corporate income tax rates.
To be held at the Bangko Sentral ng Pilipinas (BSP) headquarters in Manila, invited in the said gathering are the following:
- Budget Secretary Benjamin Diokno
- Finance Secretary Carlos G. Dominguez III
- Socio-economic Planning Secretary Ernesto Pernia
- Executive Secretary Salvador Medialdea
- Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo
- Trade Undersecretary Ceferino Rodolfo
- Internal Revenue Commissioner Caesar Dulay
- Custom Commissioner Nicanor Faeldon
- National Treasurer Roberto B. Tan
- Finance Undersecretary Gil Beltran
- Finance Undersecretary Maria Edita Tan
- Finance Undersecretary Maria Lourdes Recente
- National Economic and Development Authority (NEDA) Assistant Director General Rosemarie Edillon
As said by Dominguez to reporters, “Basically the agenda in tomorrow’s [Tuesday] DBCC is how do we make the budget… a Duterte budget for the rest of the year and for next year. That’s basically reorienting according to what the mandate of the people was.”
Also, the DBCC will be discussing about the proposed increase in budget deficit ceiling, the finance chief said.
The new administration will be reviewing all of the Aquino government’s economic numbers according to Diokno.
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