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Fiscal Policy of the Philippines
Transcript of Fiscal Policy of the Philippines
specifically by manipulating the levels and allocations of taxes and government expenditures. Fiscal measures are frequently used in tandem with monetary policy to achieve certain goals In the Philippines, this is characterized by continuous and increasing levels of debt and budget deficits, though there have been improvements in the last few years Aggregate demand and Supply It is the total demand for final goods and services in the economy at a given time and price level The Philippine government’s main source of revenue are taxes, with some non-tax revenue also being collected.
To finance fiscal deficit and debt, the Philippines relies on both domestic and external sources. Applications of Fiscal Policy in the Philippines What is a Fiscal Policy? Expansionary and Contractionary Fiscal Policy Expansionary fiscal policy is designed to stimulate the economy during or anticipation of a business-cycle contraction. This is accomplished by increasing aggregate expenditures and aggregate demand through an increase in government spending (both government purchases and transfer payments) or a decrease in taxes. Expansionary fiscal policy leads to a larger government budget deficit or a smaller budget surplus. If government spending is greater than the Tax Revenue in a given period, then it is a budget deficit Fiscal Policy History of the Philippines Learn the Electronic way. Maraming salamat po...