ADB OKs $400M loan to improve PH revenue mobilization

PTVPhilippines
PTVPhilippines
  • last year
ADB OKs $400M loan to improve PH revenue mobilization
Transcript
00:00 The Philippine government has secured a 400 million US dollar loan from the Asian Development Bank
00:05 to improve revenue generation and support the country's post-pandemic economic recovery.
00:11 This loan will be used to modernize tax administration and systems
00:15 with a focus on increasing tax compliance and reducing tax avoidance. The ADB expects
00:21 these reforms to raise the tax to GDP ratio and ensure sustainable financing for the country.
00:27 The loan comes as the government faces challenges in achieving its annual growth targets
00:32 due to high interest rates limiting investment activity.

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