Published by
Philippine Star
Philippine Star
Pressure on next admin to raise taxesMANILA, Philippines — The next administration will find itself running on tight finances and may be forced to raise taxes as it has to undertake fiscal consolidation to repay a national debt worth nearly P13 trillion. In interviews with The STAR, economists warned that the incoming government would face financial burden in its six-year term due to the tight space carried over from the Duterte administration. The Bureau of the Treasury yesterday said the outstanding debt of the Philippines has risen by 18 percent to a record P12.68 trillion as of March from …