These measures will assist in bringing about improvements in the balance of payments. VAT & the poor Finally, on the Budget, a brief comment on VAT. As we all know, public debate on the Budget has been centered on the increase in VAT.
This year, we expect the economy to grow by 7.0-9.0 percent. Looking ahead, the Philippine central bank is laying the foundation for a better future for all Filipinos. With our push for structural reforms, digitalization, and sustainability, we aim to see a Philippine economy that is stronger, more technologically savvy, more inclusive, and more sustainable than ever. I’ll stop here.