Philippines keeps budget deficit goal – Finmin

MANILA, March 25 – The Philippines is sticking with this year’s budget deficit goal of 177.2 billion pesos , the finance minister said, even as revenues likely fell short of target in the first two months of the year.

Finance Secretary Margarito Teves said the government hoped that stricter implementation of tax laws and the pending passage of policies to raise revenues, including higher taxes on tobacco and beer, would beef up tax collection and cap the budget.

“We are hopeful that tax administration measures will help us increase tax revenues despite the adverse developments,” Teves said in a mobile phone text message to reporters on Wednesday.

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