In economist-lawmaker on Wednesday called out the Department of Budget and Management, the Department of Finance and the Bureau of the Treasury for “slow national government disbursements. Know more:
IN economist-lawmaker on Wednesday called out the Department of Budget and Management, the Department of Finance and the Bureau of the Treasury for “slow national government disbursements,” which he says are “resulting in a three-bladed contractionary policy—spending is slower than last year, we are shrinking money supply, and the external environment is cloudy.”
“The Bureau of Internal Revenue expects to collect a record P300.9 billion in April alone or 25 percent from P239.6 billion last year. I also want to congratulate the Bureau of Customs for once again exceeding its revenue collection targets for the month of April 2023. The BOC collected P68.274 billion last month, exceeding its target of P68.199 billion by 0.11 percent,” Salceda added.
“So, we need to do two things: insulate our financial system through easy-to-pass reforms such as the FIST [Financial Institutions’ Strategic Transfer] Act extension, rural bank consolidation, and streamlined procedures for financial rehabilitation for small and medium enterprises,” he said. “And as one of my mentors, Former Secretary Winnie Monsod once chided me about, when we miss growth targets, the sick die and families go hungry,” he said.
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