Fiscal policy of the Philippines Fiscal policy of the Philippines Fiscal policy refers to the "measures employed by governments to stabilize the economy, specifically by manipulating the levels and allocations of taxes and government expenditures. Fiscal measures are frequently used in tandem with monetary policy to achieve certain goals." In the Philippines, this is characterized by continuous and increasing levels of debt and budget deficits, though there have been improvements in the last few years. The Philippine government’s main source of revenue are taxes, with some non-tax revenue also being collected. To finance fiscal deficit and debt, the Philippines relies on both domestic and external
Sense-for-sense translation verbo verbum curabit reddere / fidus interpretes": "not to try to render them word for word [like some] faithful translator." Some have read that passage in Horace differently: In John Dryden’s 1680 preface to his translation of Ovid's Epistles, he proposed dividing translation into three parts called: metaphrase, paraphrase and imitation. Metaphrase is word-for-word and line by line translation from one language into another. Paraphrase is sense-for-sense translation where the message of the author is kept but his words are not so strictly followed as his sense, which too can be altered or amplified. Imitation is the use of either