Manasan, Rosario G. - Philippine Institute for Development Studies (PIDS), … - 2002
taxes and proliferation of tax incentives) also need to be addressed. Third, in the near term, fiscal consolidation cannot …This study presents an evaluation of the President’s Budget for 2003. First, it shows that the fiscal targets set out … particular, the fiscal deficit target of P130 billion (or 3.3% of GDP) for 2002 will be exceeded by P93 billion (or 2.4% of GDP …