Duterte takes pride in role of tax reform in driving pre-pandemic economic growth

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President Rodrigo Duterte says the economy's strong pre-pandemic performance was 'sustained' by tax reform efforts, adding that it was among Asia's fastest growing ones before the COVID-19 health crisis hit the country.

President Rodrigo Duterte praised the government’s tax reform program and its role in strengthening the national economy before the COVID-19 pandemic.

Early on in his term, Duterte vowed to introduce a simpler, more efficient tax system that will reduce personal and corporate income taxes and ultimately, attract more job-creating investments. Duterte likewise touted how the country’s macroeconomic fundamentals were “beyond robust” when the global health crisis struck the Philippines, echoing a frequent point made by his economic managers.

 

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What's strong in an economy with few jobs, high prices, and negative credit rating outlook.

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