Spending and borrowing cut to attain fiscal sustainability

Some recent stories and reports related to public finance and economics have caught my attention. Let me enumerate and discuss them.

- Bienvenido S. Oplas Jr.

One, from Department of Finance press statement, "PH draws strong interest from EU biz community at first-ever econ dialogue in Italy" (May 16).

Two, from The Philippine STAR, "Government should advance fiscal consolidation" (May 21).

Three, from BusinessWorld, "Congress urged to cap spending via budget modernization bill" (May 19), "Agencies' budget proposals reach P11 trillion for 2026" (May 20), "Budget cap to be set on May 26 as agency spending proposals surge" (May 20).

The Philippine Economic Dialogue (PED) held by the economic team in Milan, Italy last May 6 that the DOF announced in their press statement has "attracted a standing-room crowd of around 100 business leaders, bankers, and investors from across Europe, along with delegates from the ADB Annual Meeting—more than three times the expected turnout, underscoring the strong global investor interest in the Philippines."

Key speakers in the event were DOF Undersecretary and chief economist Domini S.D. Velasquez, Department of Budget and Management Secretary Amenah F. Pangandaman, and Department of Economy, Planning and Development (formerly NEDA) Secretary Arsenio M. Balisacan.