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The outgoing International Monetary Fund (IMF) representative in Manila said yesterday the Philippines is in “a much better position” to confront the challenges posed by the global economic crisis.
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                    [Title] => RP in better position to face meltdown - IMF
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Fiscal reforms have improved the Philippines’ capability to face the global economic meltdown, but more reforms are needed, the International Monetary Fund (IMF) said yesterday.
 

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                    [Title] => IMF sees RP growing 6.3%-7%
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The economy could grow between 6.3 and seven percent this year if the Arroyo administration could raise sin taxes and increase infrastructure spending, the International Monetary Fund (IMF) said yesterday.
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The donor community appealed to the Arroyo administration not to drop its efforts to complete its tax policy reform program, suggesting that the government should also consider raising corporate taxes.


Multilateral funding agencies said the government should pursue tax policy options for the 2008 budget, particularly the indexation of sin taxes to inflation and scrapping redundant tax incentives.


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The International Monetary Fund (IMF) said it expects the country’s gross domestic product (GDP) to grow by 5.8 percent this year and could further expand by as much as seven percent if ongoing economic reforms are completed over the medium term.


The IMF concluded its 2006 annual consultation with the Philippines last month, taking particular mention of  "impressive" fiscal reforms in an environment of sustained growth and declining inflation.


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BAQIR

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The donor community appealed to the Arroyo administration not to drop its efforts to complete its tax policy reform program, suggesting that the government should also consider raising corporate taxes.


Multilateral funding agencies said the government should pursue tax policy options for the 2008 budget, particularly the indexation of sin taxes to inflation and scrapping redundant tax incentives.


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The International Monetary Fund (IMF) said it expects the country’s gross domestic product (GDP) to grow by 5.8 percent this year and could further expand by as much as seven percent if ongoing economic reforms are completed over the medium term.


The IMF concluded its 2006 annual consultation with the Philippines last month, taking particular mention of  "impressive" fiscal reforms in an environment of sustained growth and declining inflation.


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abtest

'RP will withstand crisis'

By Paolo Romero | January 17, 2009 - 12:00am

The outgoing International Monetary Fund (IMF) representative in Manila said yesterday the Philippines is in “a much better position” to confront the challenges posed by the global economic crisis.

Headlines

IMF names new RP resident representative

By Des Ferriols | November 20, 2008 - 12:00am

The International Monetary Fund (IMF) has appointed a Dutch economist as its new resident representative to the Philippines, replacing three-year veteran Reza Baqir.

Business

Asia holding up better to ongoing crisis, says IMF

By Des Ferriols | October 24, 2008 - 12:00am

The International Monetary Fund (IMF) said Asia is holding up better to the ongoing financial crisis in the US but the ...

Business

IMF official says RP needs to improve tax administration

By Ted P. Torres | September 29, 2008 - 12:00am

The Philippines needs to improve its tax administration and collection efficiency to continue to attract foreign and domestic ...

Business

RP in better position to face meltdown - IMF

By Des Ferriols | September 19, 2008 - 12:00am

Fiscal reforms have improved the Philippines’ capability to face the global economic meltdown, but more reforms are needed, the International Monetary Fund (IMF) said yesterday.  

Headlines

RP can afford to incur a small deficit, says IMF

By Des Ferriols | May 30, 2008 - 12:00am

Business

IMF sees RP growing 6.3%-7%

By Des Ferriols | April 4, 2008 - 12:00am

The economy could grow between 6.3 and seven percent this year if the Arroyo administration could raise sin taxes and increase infrastructure spending, the International Monetary Fund (IMF) said y...

Business

IMF wants government to maintain VAT on oil

By Iris Gonzales | January 14, 2008 - 12:00am

Business

Donors urge RP to complete tax reform program

By Des Ferriols | March 13, 2007 - 12:00am

The donor community appealed to the Arroyo administration not to drop its efforts to complete its tax policy reform program, suggesting that the government should also consider raising corporate taxes. Multilateral...

Business

IMF sees RP economy growing 5.8% this year

By Des Ferriols | February 9, 2007 - 12:00am

The International Monetary Fund (IMF) said it expects the country’s gross domestic product (GDP) to grow by 5.8 percent this year and could further expand...

Business