Economic managers

During the last DBCC meeting in June, economic managers esti tax reform package would contribute P133.8 billion next year, P233.6 billion in 2019, P272.9 billion in 2020, P253.0 billion in 2021 and P269.9 billion in 2022.

The final tally will likely be slightly higher given line item vetoes by President Rodrigo Duterte. - enues could increase with fresh tax reforms expected to be passed next year.

“Actually with the veto, we estimate the revenues will go up close to P90 billion; that is only for Train 1A. Part B is estimated to have a net revenue of P48 or P40 billion. We expect that passed by Carlos Dominguez 3rd said in a

By 2022, revenues are expected to rise to P4.388 trillion or 17.3 percent of GDP.

The DBCC-approved disbursement target, meanwhile, was set at P3.313 trillion for 2018, rising to P5.149 trillion in 2022.

interagency body retained the 3 percent of GDP ceiling.

The financing mix will also continue to favor domestic borrowings but for 2018 there was a slight adjustment as the government is projected to borrow 74 percent from domestic sources and 26 percent from foreign sources.

For 2019 to 2022, the borrowing program is projected to follow an 80-20 mix, still in favor of domestic sources.

The national government debt ratio is also projected to continue its downward trajectory from 42 percent in 2017 to 37.9 percent in 2022.

- gram is geared to support the development objectives of the Duterte Administration,” Budget Secretary Benjamin Diokno said.

“We will ensure that all the revenues collected and monies of our people,” he added.

Economic managers kept the until 2022 at 7-8 percent.

“We think we are doing well … much of our assumptions until 2022,” Diokno said.

2-4 percent for 2018 to 2022 but peso-dollar exchange rate assumptions were tweaked.

“We changed it to P49 to P52 however, should not be a cause of concern because as you know the impact in this in our fiscal position. A peso depreciation is actually favorable to our fiscal position,” Diokno said.

The DBCC’s previous assumption was an exchange rate of P48P51 per dollar for 2018 to 2022.

Higher export growth, meanwhile, is expected next year with the estimate raised to 9 percent from 7 percent. For 2019 to 2022, the outlook is 9 percent exports growth.

Dubai crude is expected to hit $50 to $65 per barrel next year. The same range was also forecast for 2019 to 2022.