VARIOUS quarters concede that prospects for the future look bright because increase tax collections,
through the new tax reform law, should accelerate the tempo of economic growth.
No less than Presidential Spokesman Harry Roque said that the implementation of the Tax
Reform for Acceleration and Inclusion Act (TRAIN) is expected to prop up the local economy in 2018.
TRAIN exempts those earning P250,000 and below from income tax, but imposes higher excise
taxes on petroleum products, automobiles, sugar-sweetened beverages, and tobacco.
In fact, Roque, a lawyer and a former member of the House of Representatives, said the
economy “is on a roll,” given the Asian Development Bank’s upgrading of the Philippine growth
Likewise, the highly-articulate presidential spokesperson cited the debt watcher Standard &
Poor’s Global Ratings’ slight raising of the country’s economic growth forecast for the year.
The debt watcher said the economy of the nation, one of the world’s principal manpower
exporters, may grow by 6.6 percent in 2017, adjusting its previous 6.4 percent forecast.
At the same time, the lawmaker-turned-presidential spokesman called on the people to help the
Duterte administration in laying down the foundation of a prosperous and peaceful nation.
And we share the view of Roque that every Filipino ought to do his/her part and help the
government in improving the country.
Indeed, it is time for all of us, including the ordinary citizens not only in the metropolis
but elsewhere, to work in unison if we are to hasten the country’s socio-economic development.
It will be good for this Third World nation of more than 100 million election-crazy and