IMF Staff Country Reports

Philippines: Report on the Observance of Standards and Codes-Fiscal Transparency Module-Update

Publication Date:

June 30, 2004

Electronic Access:

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Summary:

This paper presents an update to the Report on the Observance of Standards and Codes on Fiscal Transparency Module for the Philippines. The clear separation of fiscal and public enterprise management in the Philippines has been reduced somewhat by the rising losses of the National Power Corporation (NPC). The decline in the ratio of revenue to GDP in recent years continues to highlight the need for more published information on special tax incentives provided to the private sector, particularly with regard to the fiscal costs.

Series:

Country Report No. 2004/180

Subject:

Budget planning and preparation Fiscal accounting and reporting Fiscal transparency Internal audit Public financial management (PFM)