A new report by the global research and consultancy firm Oxford Business Group (OBG) looks in detail at the country’s efforts to implement extensive tax and social service reforms while ramping up public expenditure on infrastructure.
The Report: The Philippines 2019 explores the economic impact of the Tax Reform for Acceleration and Inclusion (TRAIN), while also spotlighting the likely implications for investment if the next proposed package of tax reforms passes Congress.
A push to ensure that economic growth is inclusive has sharpened the focus on social services, with the rollout of the Universal Health Care Bill analysed. The report also looks at the progress of the flagship Build, Build, Build infrastructure programme midway through the Presidency of Rodrigo Duterte, as a new airport, road, bridge and railway network projects break ground in an effort to reduce regional disparities, boost growth and improve economic productivity. In particular, it examines the effectiveness of financing methods for public infrastructure projects and the growing role of unsolicited proposals from the private sector.
With the next package of tax reforms designed to boost small and medium sized enterprises, OBG’s report provides coverage of the Philippines’ maturing manufacturing industry, which is already beginning to benefit from infrastructure development but faces challenges from slowing global demand. It also considers the potential opportunities arising from the US-China trade dispute, notably in terms of production relocation and import replacement.