While funding a vigorous infrastructure roadmap, such as the Duterte Administration’s Build Build Build initiative, is a good long term investment for the country, Prof. Dante Canlas, a former socioeconomic planning secretary during the Gloria Macapagal-Arroyo administration, pointed out that the authorities should make sure that supportive fiscal measures, such as tax reforms for generating higher revenue, are carried out to veer the nation away from getting further mired in debt.
“This will support the productive technologies of the private sector, so this is really an investment for the long run. If the tax reform program as envisioned by the Department of Finance does not fly, then there is the risk of a ballooning budget deficit, which means a further increase in the pubic debt,” said Canlas.
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