In a move to boost the Philippines’ standing in international tourism, President Ferdinand “Bongbong” Marcos, Jr., signed into law the priority measure of providing Value Added Tax (VAT) refund for foreign tourists, according to a Philippine News Agency (PNA) news article.
To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…
President Ferdinand R. Marcos Jr. on Monday signed into law a measure providing refund of Value Added Tax (VAT) for foreign tourists to attract more travelers and position the country as a “premier global shopping destination.”
Republic Act (RA) 12079 or the VAT Refund for Non-Resident Tourists will establish a VAT Refund System on locally purchased goods, Marcos said in his speech during the ceremonial signing in Malacañang.
Under the new law, tourists can claim a refund on the VAT for goods personally purchased at accredited retail outlets, provided these goods are taken out of the country within 60 days and meet a minimum transaction requirement of PHP3,000.
This initiative opens a new chapter in the Philippines’ tourism landscape, according to the President, allowing the country to compete with other tourism markets that attract tourists who are eager to take home authentic, high-quality Filipino products.
With the new law, an estimated 30 percent increase in tourist spending is projected which will benefit both large-scale industries and micro, small, and medium enterprises.
“These products tell our stories, and now, with the VAT refund, they will be able to be more accessible to global consumers, elevating once again our stature in the global market,” Marcos said.
Let me end this post by asking you readers: What is your reaction to this recent development? With the new law signed already, do you expect it to help the Philippines attract more foreign tourists as well as better spending from each of them during they stay in the country?
Recently in the city of Parañaque, agents of the National Bureau of Investigation (NBI) apprehended four individuals for the illegal sale of firearms, according to a Manila Bulletin news report.
To put things in perspective, posted below is an excerpt from the news report of the Manila Bulletin. Some parts in boldface…
Four persons have been arrested in Paranaque City for illegal sale of firearms, the National Bureau of Investigation (NBI) said on Friday, Dec. 6.
They were identified by the NBI as Jerome V. Nuyque, Maximo G. Ayawon, Michael Douglas E. Loleng, and Nilo M. Barnacha who were arrested by operatives of the bureau’s National Capital Region (NBI-NCR) during an entrapment operation last Nov. 28.
“Confiscated from the Subjects are one (1) Daniel Defense M4 Carbine Cal. 5.56mm with SN 527520; one (1) Bushmaster Cal. 5.56mm model xm15-E2S with SN L548760; four (4) 5.56mm magazines; twenty (20) live ammunitions cal. 5.56mm; one (1) black rifle tactical bag; two (2) dusted 1,000 peso bills with serial numbers TQ903190 and AU209221 with boodle money; one (1) Shooters Cal. 45 pistol with SN M04184865; twelve (12) Cal. 45 live ammunitions; one (1) CZ pistol Cal. 6.35 browning; and six (6) 6.35mm live ammunitions,” the NBI said.
It said its operatives conducted the operation in response to “a report about a certain group that operates illegal sale of high-powered firearms in NCR and nearby areas, in violation of RA No. 10591, the Comprehensive Firearms and Ammunition Regulation Act.”
Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you concerned that the illegal sale of firearms could be rampant? Do you think Parañaque is becoming more unsafe to live in?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
On the afternoon of December 8, 2024 along Concha Cruz Drive in BF Homes subdivision, the Concha Cruz Drive Homeowners Association, Inc. (CCDHAI) had its Christmas fellowship that brought its legitimate members, guests and the heroes of the community together.
The CCDHAI Christmas fellowship was more than just a social gathering as it symbolized the truth that the homeowners’ association (HOA) and its residents need each other so that cooperation, unity and progress could be achieved. At the same time, the Philippine National Police (PNP) and security guards of Praise Security and Investigation Agency, Inc. were called the community heroes for their essential contributions to the peace and security of the local community.
There were also several officials from the City Government of Parañaque who attended and interacted with the community members.
Indeed, under the current board of directors (BOD) of the CCDHAI led by its president Luis Isidro Bersamin, the Concha Cruz Drive community progressed over the past two years as it has turned more peaceful, more stable and the value of properties have soared along the way.
“You have seen our community has turned active and we are connecting with each other. Hopefully, we could do more next year,” CCDHAI president Bersamin said. “You may have noticed that our community has turned peaceful. I am happy to see the positive changes in our local community as we worked hard for these to happen.”
CCDHAI president Luis Isidro Bersamin delivering his remarks to the members and guests.
Bersamin also noted the increase in the number of legitimate members who responded to the invitations to be more involved in the association’s activities. His remarks drew cheers from the directors, the members and the guests (including Barangay BF Homes chairman Jeremy Marquez, Parañaque Chief of Police PCOL Melvin R. Montante, Parañaque City Councilor Bong Benzon with wife Sheila Benzon, and Parañaque City Mayor Eric Olivarez’s legal counsel Atty. Rommel Frias).
Barangay BF Homes captain Jeremy Marquez speaking during the fellowship.
“I admire your community’s activeness. I saw how your association is involved not only with the federation but also with our barangay. I’d like to take this opportunity to thank your president for helping the barangay when we have programs from the national government to take part in,” Barangay BF Chairman Jeremy Marquez stated in his short speech.
Parañaque City Councilor Bong Benzon addressed the CCDHAI community as his wife Sheila looked on. (photo source – CCDHAI)
The Parañaque Chief of Police PCOL Melvin R. Montante. (photo source – CCDHAI)
Other important figures who made it to the Christmas fellowship include Parañaque City Mayor Olivarez’s HOA consultant Marilu Glorioso, City Councilors Rico Golez, Beng Amurao, Jet Frias, Raffy Apiong Dela Peña and former City Councilors Wahoo Sotto and Jean Yllana. They each admired the CCDHAI for the progress and reforms achieved over the past two years.
The group of CCDHAI people and guests. Seated (Left to Right) were director Grace Morales, President Luis Isidro Bersamin, Parañaque City Councilor Rico Golez, this writer, City Councilor Beng Amurao and homeowner/member Nisa Moletti. Standing (L to R) were director Seth Bersamin, Seanma Bersamin, Sidong Bersamin, director Carlos Jamora and director Ryan Samia. (photo source – CCDHAI)
An indoor group selfie shot taken by director Carlos Jamora (foreground). Standing (L to R) were HOA consultant to Parañaque Mayor Olivarez Marilu Glorioso, director Grace Morales, this writer/blogger, Merle de Asis, Atty. Rommel Frias with his wife, Nikki Bersamin, Samito Bersamin, President Luis Isidro Bersamin, City Councilor Jet Frias, Atty. Jon Jamora and Ann Lopez. (photo source – CCDHAI)
The CCDHAI and the guests – including elements of the Philippine National Police and local security guards who are the community heroes – went to enjoy delicious meals, and socialize with one another. Adding zest to the fellowship was the release of Christmas prizes and all of the guests were able to pick something they desired before heading home.
“The CCDHAI Christmas fellowship proves that community participation in the HOA’s events benefits the homeowners, especially when the local government unit (LGU) steps in to help them with their needs. The best benefit of all, homeowners and the LGU officers get to know each other in a spirit of camaraderie,” director Grace Morales stated.
CCDHAI director and host Grace Morales gave the attendees an update about their association’s activities.
About CCDHAI
The Concha Cruz Drive community and the guests together. (photo credit – CCDHAI)
The Concha Cruz Homeowners Association, Inc. (CCDHAI) was founded in 2014. Its local community (composed of 67 households) includes specific parts of both Parañaque City and Las Piñas City.
The current BOD of CCDHAI include Luis Isidro Bersamin as President, and Alexis Sanchez as Vice President. Other members of the board include directors Seth Bersamin, Jaime Calaqui, Carlos Miguel Jamora, Grace Morales and Ryan Samia.
To contact the CCDHAI, call 85425277 or send email to ccdhainc@gmail.com
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
Recently, the City Government of Las Piñas officially received from the Department of the Interior and Local Government (DILG) the prestigious 2024 Seal of Good Local Governance (SGLG) award during the awarding ceremony held at the Manila Hotel, according to the social media video post of the local government. In the news report of the Manila Bulletin, it was stated that this marks the first-time ever that Las Piñas City won an SGLG award.
Mayor Imelda Aguilar received the award on-stage during the ceremony. With her was her daughter Vice Mayor April Aguilar. To watch the Facebook video post, click https://www.facebook.com/share/v/14uVkywyRA/
Previously the DILG announced the official list of city governments nationwide which qualified for the 2024 SGLG award and Las Piñas City was one of them. It should be noted that the DILG set the criteria that local government units (LGUs) should meet in order to qualify for the prestigious award.
For insight, the SGLG award is “a recognition given to local government units that meet the Department of the Interior and Local Government’s (DILG) stringent criteria for excellent governance in 10 key governance areas: financial administration, disaster preparedness, social protection, health, education, business-friendliness, safety and order, environmental management, tourism and culture, and youth development.”
Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Are you delighted to see your local government receive the 2025 SGLG award from the DILG? Do you think this newest achievement makes the future of the city look bright? Does the SGLG award make you trust your city government officials some more?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
Disclaimer: This is my original work with details sourced from reading the comic book and doing personal research. Anyone who wants to use this article, in part or in whole, needs to secure first my permission and agree to cite me as the source and author. Let it be known that any unauthorized use of this article will constrain the author to pursue the remedies under R.A. No. 8293, the Revised Penal Code, and/or all applicable legal actions under the laws of the Philippines.
Welcome back superhero enthusiasts, 1990s arts and culture enthusiasts, Image Comics fans and comic book collectors! Today we go back to the year 1994 to take a close look at one of the many tales of the original WildStorm universe through one of the comic books of the first mini-series of Team 7.
For the newcomers reading this, Team 7 is set in the past within the original WildStorm universe. This is the one special forces team that had major WildStorm heroes – Grifter (WildCATS: Covert Action Teams), Backlash, Jackson Dane (Wetworks), John Lynch (Gen13) and Deathblow – who were younger, were proficient with combat and were destined to gain special abilities that later defined them. Issue #1 reviewed last time worked well by efficiently introducing the characters while also building up the plot and there were some nice pay-offs here and there.
With those details laid down, here is a look back at Team 7 #2, published in 1994 by Image Comics with a story written by Chuck Dixon and drawn by Aron Wiesenfeld. This is the 2nd chapter of the 4-issue mini-series.
The cover.
Early story
Set in the 1970s, a team of armed escorts and some personnel wearing protective gear isolate and examine a battlefield full of dead bodies. Miles Craven and Gabriel Newman analyze the evidence around them. Craven states that what they have is too important an operation to be left to underlings and he wants Gabriel to stay with the project which could use his special talents. Shortly after, the bodies of the Team 7 members were retrieved barely alive.
Seven days later, John Lynch wakes up in a hospital bed feeling traumatized over what happened to his team during the last mission. He was told that they were exposed to a chemical agent and he had been in a deep coma for a week.
Craven then enters the room to provide Lynch crucial updates…
Quality
Do you recognize Deathblow and Dane on this page?
As expected, the gritty and dark storytelling from the previous issue continued in this story. Without spoiling the plot, I can say that this issue has some handsome pay-offs to what was built-up in issue #1 and there were new build-ups established along the way. Because the script was crafted to build-up the plot and sub-plot, the military action scenes are lessened which is not surprising. I can assure you that Chuck Dixon’s writing here remains pretty strong.
While the previous issue served as an efficient introduction of the younger versions of WildStorm’s heroes who are in the middle of a world full of violence and espionage, this issue shed some light as to how the heroes dealt with their new abilities (in connection with the climax of issue #1) and how International Operations is handling matters behind closed doors. The suspense kept on building up and this made the narrative more intriguing to follow. Expect to see elements of high-level espionage, unethical science and war throughout.
When it comes to the characters, Lynch (being the captain of Team 7) has a huge share of the spotlight followed by Cole Cash (Grifter). The two have different views about their special forces duty – Lynch follows the superiors while Cole realizes something is wrong about their leadership and the intelligence fed to them.
Conclusion
This scene showing Cole Cash (Grifter) emerging from dark with a defiant tone is a very defining moment of this comic book.
Team 7 #2 (1994) is clearly a very engaging read. It has the fine mix of war (with uncompromising violence drawn by Wiesenfeld), intrigue and the dark side of global espionage. The science fiction element here worked well in explaining the powers Team 7 members got after what happened in issue #1. This comic book also marks the beginning of showing Lynch and Cole Cash as the co-leads among the teammates. Die-hard fans of Deathblow, Dane and Backlash will have to wait a bit before their favorites get their share of the spotlight. Regardless, this is a very powerful read and a fine example of doing a prequel within the original WildStorm universe.
Based on available details and key factors, an executive of the Department of Trade and Industry (DTI) stated that the Philippines is unlikely to be hit by the planned tariff hikes of the returning United States President Donald Trump whose administration will formally start on January 20, 2025, according to a Philippine News Agency (PNA) news article.
To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…
Department of Trade and Industry (DTI) Undersecretary Ceferino Rodolfo said Monday that the Philippines is unlikely to be targeted by the planned tariff hikes under the incoming administration of United States President-elect Donald Trump, citing the balanced and healthy trade relationship between the two countries.
Rodolfo noted that the Philippines’ trade deficit with the US stood at USD4 billion in 2023, far smaller than the deficits the US faces with other Asian countries, including China (USD300 billion), Vietnam (USD109 billion), Japan (USD75 billion), South Korea (USD55 billion), India (USD47 billion), and Thailand (USD43 billion).
“We believe that countries with which the US has a huge trade deficit—particularly those which worsened during the past four years—will be likely targets of additional US tariffs,” he said.
He added that this puts the Philippines in a strong position as the US looks to address trade imbalances.
“With the Trump administration’s focus on reducing trade deficit, the Philippines can leverage the balanced and healthy Philippines-US trade, indicating a mutually beneficial trade relationship,” the DTI official added.
Strengthening ties – Rodolfo said DTI Secretary Cristina Roque and Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go are working closely with the US government to ensure “even closer economic relations” with the long-time ally in preparation for Trump’s assumption into office.
He also pointed out that Trump’s pick for Department of State Secretary, Senator Marco Rubio, has been a strong proponent of closer economic and strategic ties between the US and the Philippines.
Rubio filed Senate Bill 4703, or the Philippines-US Strategic Partnership Act, which aims to enhance economic relations between the two countries.
The bill, filed on July 11, 2024, proposes to negotiate a critical minerals agreement with the Philippines; to prioritize support from the US International Development Finance Corporation for projects involving critical minerals and fossil fuels in the Philippines; and to identify additional US agencies that could invest in the Philippines, including the Department of Defense’s Office of Strategic Capital.
Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines won’t be hit by Trump’s planned tariff hikes? Are you hoping that under a Trump presidency, the Philippines and America will be able to have a free trade agreement?
Recently in the city of Parañaque, local police officers arrested three Chinese nationals who caused trouble by threatening to kill a driver and having a gun pointed at him, according to a Manila Bulletin news report.
To put things in perspective, posted below is an excerpt from the news report of the Manila Bulletin. Some parts in boldface…
Three Chinese nationals were arrested by members of the Parañaque City Police Sto. Nino Substation at a condominium in (Barangay) Don Galo, Parañaque City on Sunday night, Dec. 1.
The Southern Police District (SPD) said the suspects, identified as alias “Mao,” 41, alias “Wee,” 37, and alias “Hao,” 32, were arrested at around 7:10 p.m. for pointing a gun and threatening to kill a driver identified as alias “Dave,” 33.
Members of the Parañaque City Police Sto. Nino Substation responded after receiving a call from the security personnel of the condominium seeking police assistance.
The victim told the police that he was threatened at gun point by Mao who was being assisted by two other suspects during a heated argument.
The police recovered from Mao a 9mm pistol and one magazine with eight live ammunition.
Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, what makes you think that Chinese nationals are able to illegally possess guns with ammunition? Are there many Chinese nationals living within your local community right now? Did you encounter a dangerous or troublesome Chinese national recently?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
In light of the May 2025 local elections and the recent local controversy that happened, Las Piñas City Councilor Mark Santos asked the Commission on Elections (COMELEC) to consider the city an election hotspot, according to a Remate On-Line news report.
For the newcomers reading this, Councilor Santos is running for the lone congressional seat of Las Piñas. This puts him against outgoing Senator Cynthia Villar who happens to be running for the same post.
To put things in perspective, posted below is an excerpt from new report of the Remate On-Line. Some parts in boldface…
AFTER being ‘bullied’ by his opponent, veteran Las Piñas Councilor Mark Anthony Santos, a congressional candidate, has asked the Commission on Elections to include the city in the list of potential areas of concern in the May 2025 midterm elections.
He also requested the city police to investigate the death threats he received after he filed his certificate of candidacy last October 7, 2024 against graduating lawmaker Sen. Cynthia Villar.
”Comelec should now consider Las Piñas as among the election hotspots in Metro Manila due to the recent ’life-threatening’ developments,” he told Good Riddance.
Santos reiterated that the poll body must consider Las Piñas under election hotspot after Villar allegedly acted repeatedly in an unparliamentary manner and used offensive, derogatory and improper language against her political leaders, neighbors as well as homeowner’s association officers and security personnel.
“The Villars are being considered as the most powerful politicians not only in Las Piñas but in the entire country aside from being the richest family in the Philippines.”
Santos said he’d rather die fighting than withdraw from the congressional race.
A former chief of staff of late mayor Vergel Aguilar, he’s an advocate of socialized housing and in-city relocation, supporting the Marcos administration housing projects nationwide.
During a council privilege speech, he exposed the P213 million in accumulated taxes and penalties the Villar Group of Companies has only paid P151-million in real property taxes.
He believed that the death threats against his life were also connected to his exposes involving irregularities allegedly committed by a politician.
In recent viral video clips uploaded in Tiktok, Villar ‘attacked’ her congressional opponent, Santos, while sitting in an opposite pew minutes before the start of the mass at the city’s Our Lady of Fatima Church.
Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? In light of the controversy, would you consider voting for Mark Santos to represent Las Piñas in the House of Representatives?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
Recently in the City of Las Piñas, the City Government participated in the nationwide gift-giving program of “Balik Sigla, Bigay Saya Year 3” which resulted in the release of Christmas gifts to one thousand five hundred children at a local venue, according to the local government’s social media announcement. The local gift-giving was facilitated by Vice Mayor April Aguilar.
To put things in perspective, posted below is an excerpt from the social media announcement of the City Government. Some parts in boldface…
A total of 1,500 children in Las Piñas took part in the nationwide “Balik Sigla, Bigay Saya Year 3” gift-giving initiative on Sunday, December 8, at the Verdant Covered Court. The event, spearheaded by President Ferdinand Marcos Jr. and First Lady Liza Araneta-Marcos, was held simultaneously across various local government units in the Philippines to spread holiday cheer to children.
In Las Piñas, City Vice Mayor April Aguilar facilitated the distribution of kiddie gift sets that included a trolley bag, pillow, raincoat, socks, face and hand towel, tumbler, watch, hygiene kit, coloring book, crayons, and a small toy. The event also featured interactive games, activities, and entertainment, making it a memorable celebration for children and their families.
Vice Mayor Aguilar thanked the President and First Lady for their efforts in spreading joy to children in Las Piñas. “President Bongbong Marcos and First Lady Liza Marcos, maraming maraming salamat. Marami tayong pinasayang bata ngayong umagang ito. Maraming maraming salamat sa tulong mo sa Las Piñas. Mahal na mahal ka ng mga Las Piñero,” she said.
The “Balik Sigla, Bigay Saya” program is an annual initiative led by the Office of the President and the First Lady, in collaboration with the Department of Social Welfare and Development (DSWD) and local government units.
Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Were there any children from your local community who received gifts from the gift-giving?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
Recently the Development Budget Coordination Committee (DBCC) adjusted its economic growth targets for the Philippines covering the next few years in relation to varied factors, according to a BusinessWorld news report.
To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…
THE Development Budget Coordination Committee (DBCC) on Monday trimmed the economic growth target for this year to a range of 6-6.5% but widened the target band to 6-8% for 2025 until 2028, due to “evolving domestic and global uncertainties.”
Budget Secretary Amenah F. Pangandaman, who chairs the DBCC, said Philippine gross domestic product (GDP) is now projected to grow by 6-6.5% this year, narrower than the previous 6-7% goal.
“Despite domestic challenges, we are optimistic that we can still attain our growth target for the year of 6% to 6.5%. In particular, we expect the Philippine economy to bounce back during the last quarter, given the anticipated increase in holiday spending, continued disaster recovery efforts, low inflation, and a robust labor market,” she said at a briefing after a DBCC meeting on Monday afternoon.
The DBCC’s review of the macroeconomic assumptions came after the Philippine economy expanded by a weaker-than-expected 5.2% in the third quarter, which was the slowest since the 4.3% logged in the second quarter of 2023.
In the first nine months, GDP growth averaged 5.8%. To meet the lower end of the government’s revised 6-6.5% target band, the economy would need to grow by 6.5% in the fourth quarter.
Finance Secretary Ralph G. Recto said the Philippine economy can still “realistically” grow by 6% for the full year.
“The growth assumptions for 2025 to 2028 have been given a wider band of 6% to 8%, reflecting the anticipated impact of structural reforms and evolving domestic and global uncertainties,” Ms. Pangandaman said.
To achieve the targets, she said the government is committed to “accelerating infrastructure investments, enhancing the ease of doing business, and boosting national competitiveness.”
The DBCC chair said they expect the recently signed Republic Act No. 12066 or Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act to spur faster growth and attract more foreign investments.
FISCAL program – “We have maintained our medium-term fiscal targets for 2025 to 2028. This means that we remain determined to reduce the country’s deficit in a more gradual and realistic manner, while also bolstering long-term investments that create more jobs, increase incomes, and decrease poverty incidence,” Ms. Pangandaman said.
The DBCC said it raised the deficit ceiling for 2024 to -5.7% of GDP from -5.6% previously. It kept the deficit ceiling at -5.3% of GDP for 2025, -4.7% for 2026, -4.1% for 2027 and -3.7% for 2028.
For this year, the DBCC raised the revenue outlook to P4.383 trillion in 2024 from P4.27 trillion previously. Revenue targets were kept at P4.644 trillion for 2025, P5.063 trillion for 2026, P5.627 trillion for 2027, and P6.249 trillion for 2028.
Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the DBCC is correct with its GDP projections for the Philippines for the next few years?
Author Carlo Carrasco 