4. Definition of Public Policy: - generally the principled guide to action taken by the administrative or executive branches of the state with regard to issues in a manner consistent with law and institutional customs.
5. Public Policy (Continued): - a system of courses of action, regulatory measures, laws and funding priorities promulgated by a governmental entity or its representatives.
6. Fiscal Policy : - a government policy with regard to its resource generation and spending activities.
11. Two Major Fiscal Agencies: The Department of Finance (DOF) is responsible for the preparation of the annual and medium-term revenue program of the government . The Department of Budget and Management (DBM) manages the expenditures side.
20. NG Outstanding Debt P Billion % of GDP Actual Jan-Apr Program Program … will decrease to 50.2% of GDP 50.2 50.9 5,053.4 Sovereign Credit Ratings: MOODY’S: Upgraded to Ba2 (June 15, 2011) FITCH: Upgraded to BB+ (June 23, 2011) S&P: Upgraded to BB (November 12, 2010)
21. NG Financing Program Actual Jan-May Program Program ..increasingly focus more on domestic sources
32. Development of Philippine FiscalPolicy By RICARDO P. TOQUERO Fiscal Policy and Planning Office DEPARTMENT OF FINANCE Manila A presentation for UNIVERSITY OF THE PHILIPPINES mANILA August 3, 2011
Notas del editor
While the global economic outlook for next year appears to be increasingly better, recovery remains fragile and therefore should not encourage complacency. But rather, we should act more decisively in implementing the necessary reforms to achieve higher growth over the coming years. Thank you!