FastSaying
The lower annual fiscal projection won't alter the negative outlook. Our main focus is the full implementation of the expanded value-added tax and the two percentage point increase in its rate next year.
James McCormack
Focus
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While the e-VAT and the impeachment issue have both been resolved favorably in recent days, we are maintaining our negative outlook on the Philippines' ratings.
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The reserves are more than adequate. Maybe it is becoming excessive.
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