{"id":64939,"date":"2015-11-17T10:41:12","date_gmt":"2015-11-17T16:41:12","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=64939"},"modified":"2015-11-17T10:41:12","modified_gmt":"2015-11-17T16:41:12","slug":"moodys-warns-ph-beware-of-backsliding","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2015\/11\/17\/moodys-warns-ph-beware-of-backsliding\/","title":{"rendered":"Moody\u2019s warns PH: Beware of backsliding"},"content":{"rendered":"<figure id=\"attachment_64940\" aria-describedby=\"caption-attachment-64940\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/11\/shutterstock_292789208.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-64940\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/11\/shutterstock_292789208.jpg\" alt=\"(ShutterStock image)\" width=\"1000\" height=\"667\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/11\/shutterstock_292789208.jpg 1000w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/11\/shutterstock_292789208-300x200.jpg 300w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption id=\"caption-attachment-64940\" class=\"wp-caption-text\">(ShutterStock image)<\/figcaption><\/figure>\n<p>MANILA \u2013 Moody\u2019s Investor Service cautioned the government and the people to be wary of the Philippines\u2019 tendency to backslide as a new president takes office next year though political risks remained low in the country.<\/p>\n<p>Moody\u2019s emphasized the government\u2019s revenue performance, noting that the country has only recently recovered from consistent erosion in revenues despite continuous increase in tax collection.<\/p>\n<p>\u201cIn the \u201890s, we had a similar improvement in revenue generation. But subsequently, there was backsliding. Only now are we recovering to levels of revenues,\u201d Moody\u2019s vice president and senior sovereign risk analyst Christian de Guzman said in an Inquirer.net report.<\/p>\n<p>It can be noted that the Philippines has the highest tax rate in Southeast Asia. However, the country remained among the \u2018lowest revenue generators among investment-grade countries.\u2019 A call of lower taxes has since emanated.<\/p>\n<p>Finance Secretary Cesar Purisima, in the administration\u2019s defense, asserted that the country\u2019s tax collection was equivalent to only around 13 percent of its gross domestic product (GDP) \u2013 espousing a balanced tax-to-GDP ratio.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA \u2013 Moody\u2019s Investor Service cautioned the government and the people to be wary of the Philippines\u2019 tendency to backslide &hellip;<\/p>\n","protected":false},"author":33,"featured_media":64940,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[249],"class_list":["post-64939","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-rewrite","mauthors-cyra-moraleda","mauthors-philippine-canadian-inquirer"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/64939","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\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=64939"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/64939\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/64940"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=64939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=64939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=64939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}