Tag: SONA 2023

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The state of our nation

My students found it very difficult to identify two of the current administration’s notable accomplishments in public finance. I can appreciate their difficulties.   The budgetary deficit in 2022 was a staggering P1.61 trillion, or 7.33% of GDP. Government spent P5.16 trillion last year but raised only P3.54 trillion in revenues. I cannot help but wonder why...