{"id":274010,"date":"2020-11-04T03:55:28","date_gmt":"2020-11-04T08:55:28","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=274010"},"modified":"2020-11-04T03:55:28","modified_gmt":"2020-11-04T08:55:28","slug":"ph-eyes-p6-t-borrowing-to-support-economic-recovery","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/11\/04\/ph-eyes-p6-t-borrowing-to-support-economic-recovery\/","title":{"rendered":"PH eyes P6-T borrowing to support economic recovery"},"content":{"rendered":"<figure id=\"attachment_274012\" aria-describedby=\"caption-attachment-274012\" style=\"width: 415px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/11\/163a8ffb-9139-4886-a5cb-c10bee0b1f7a.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-274012\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/11\/163a8ffb-9139-4886-a5cb-c10bee0b1f7a.jpeg\" alt=\"\" width=\"415\" height=\"260\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/11\/163a8ffb-9139-4886-a5cb-c10bee0b1f7a.jpeg 415w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2020\/11\/163a8ffb-9139-4886-a5cb-c10bee0b1f7a-300x188.jpeg 300w\" sizes=\"auto, (max-width: 415px) 100vw, 415px\" \/><\/a><figcaption id=\"caption-attachment-274012\" class=\"wp-caption-text\">FILE: National Treasurer Rosalia de Leon (PNA Photo)<\/figcaption><\/figure>\n<div dir=\"auto\"><strong>MANILA<\/strong>\u00a0\u2013 The government is keen on borrowing PHP3 trillion each in 2020 and 2021 to help boost funds for economic recovery, even as the main revenue-generating agencies have been posting upticks in their collections.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">In a Viber message, National Treasurer Rosalia de Leon said the borrowing program will still be implemented even with the positive revenue performances of the Bureau of Customs (BOC) and the Bureau of Internal Revenue (BIR).<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Economic managers said the increased borrowing for this and next year will be used to finance programs targeted to address the impact of the pandemic.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">On Tuesday, the BOC said it exceeded its PHP48.4-billion collection goal for October 2020 after revenues reached PHP50.9 billion.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">It said last October is the fifth consecutive month that the agency met its downwardly-revised revenue goals.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">Collection goals of both the BOC and the BIR for this year have been slashed after economic managers noted the impact of the pandemic on domestic output.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The BIR has yet to report its October 2020 performance.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">It collected PHP118.63 billion last September, higher than its PHP117.59-billion goal.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">This collection, however, has declined compared to the PHP150.48 billion it collected in September last year.<\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">As of the July 28, 2020 ad referendum meeting of the inter-agency Development Budget Coordination Committee, the BIR was tasked to collect PHP1.68 trillion this year while BOC\u2019s target was PHP506.15 billion.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>MANILA\u00a0\u2013 The government is keen on borrowing PHP3 trillion each in 2020 and 2021 to help boost funds for economic &hellip;<\/p>\n","protected":false},"author":44,"featured_media":274012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-274010","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/274010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=274010"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/274010\/revisions"}],"predecessor-version":[{"id":274013,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/274010\/revisions\/274013"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/274012"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=274010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=274010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=274010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}