OECD Says Philippines Must Confront Fiscal Gap, Reduce Tax Perks

The Philippines must step up efforts to reduce its persistent budget deficits and consider paring back fiscal incentives to help it sustain its economic momentum, according to the Organisation for Economic Co-operation & Development.

The government must also enforce reforms to boost investments and job creation, as well as improve its climate resilience, the OECD said in its inaugural Economic Survey of the Philippines launched on Thursday.