Sustained Government Spending to Ease Calls for Tax Cuts
Manila, Philippines – Philippine Equity Partners Inc. (PEP), the research partner of Bank of America Merrill Lynch, believes calls for the Aquino administration to cut tax rates would recede as government spending continues to pick up.
PEP research analyst Jojo Gonzales said government spending is expected to accelerate further after it rose 19% in the third quarter from a growth of only nine percent in the first half.
Source: The Philippine Star