Diokno: Philippines’ debt woes won’t reach Sri Lanka’s level

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Finance Secretary Benjamin Diokno on Tuesday said the Philippines' debt problems will not go down to Sri Lanka's level.

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As of end-June, the last month in office of the Duterte administration, the national government’s debt stock amounted to P12.79 trillion. Meanwhile, Diokno said digitalization will be the best solution to eradicate corruption in the Bureau of Internal Revenue and the Bureau of Customs .

"Let's call a spade a spade. Alam naman natin to this is an open secret and in the past many years when you talk about issues of corruption, controversy, taxpayer welfare and taxpayer grievances, Customs and BIR will always be on the top of the list and now that we are turning a new leaf under the current administration, every new administration is a new opportunity to redeem and also to institute reforms," he said.

But Guillermo said they also need the taxpayers to cooperate with the BIR in terms of adapting to digitalization. "As mentioned by our dear secretary that digitization is really the solution. As I have reported before, 91% of our processes are already automated. So that's one of the solutions," he said.

Asked by Gatchalian if the BIR and the BOC can achieve a zero contact transaction in the collection agencies, Dy Buco and Guillermo said this is possible.

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Dapat lang! Hindi na nga tayo makasama sa Da Best balak niyo pa yata sumama sa Da Worst. 🙃

Hope he's true with his predictions!

Duterte Legacy: 13T DEBT- Philippines' death sentence

it will SRI LANKA soft loan to china became from $1BILLION to $57BILLION after not paying on time... i wonder how much will the country will pay that $9BILLION soft loan just like Sri Lanka

Palagi talaga sa mga kulelat tayo ikinukumpara ‘no?☹️

hwat?! lower pa?

Punyeta ka, ikaw nag sabi na sound economy pinas! Musta na inflation ngayon? gunggong ka!

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