Senate Minority Leader Franklin Drilon on Monday advised the incoming administration of President-elect Ferdinand “Bongbong” Marcos Jr. to be transparent to the public on the current problems faced by the Philippine government, particularly in the management of the country’s fiscal space as the Filipinos continue to suffer from the consecutive oil price hikes.
“Therefore, the fiscal space for the services is constricted and affected by the payment of our interest of foreign debt,” he pointed out.Apart from the government’s obligation to pay its foreign debts, the government also has to implement the Mandanas ruling of the Supreme Court. “My advice is...that the Marcos admin should use its political capital to institute reforms to consolidate our fiscal situation and tell the people the truth because it is really tough on the budget issue,” the outgoing minority chief said.
What the Marcos administration can do is to “tell the people the truth” and prioritize the expenditure side of the government through its budget policies, Drilon said. Following the calls to suspend excise taxes and other levies imposed by the government, Drilon explained that there are advantages and disadvantages if the government will implement this.
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