PHILIPPINE STAR/ MICHAEL VARCASced” in the process of reducing the budget decit, which is expected to contract even with no new taxes and shrink even faster if the government canIn an economic bulletin on Tuesday, DoF Chief Economist Gil S. Beltran said the way forward will involve “shoring up revenue and cutting non-priority expenditure… without sacriHe said that assuming no new taxes, the deficit is expected to hit the equivalent of 4.
Separately, Manulife Philippines Head of Equities Mark A. Canizares said in a statement on Tuesday that it considers infrastructure and mining to be critical for the incoming administration. Mr. Canizares noted that under the Duterte administration, Mindanao was a main recipient of infrastructure projects, including the Davao City Bypass Construction and Coastal Road projects, the loans for which were obtained at the height of the pandemic in 2020.
He said his view on the utility sector is more subdued, given Mr. Marcos’ comments on lowering energy costs.