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
Irish Fiscal Advisory Council in the United Kingdom (also formed after the financial crisis), and other equivalent members of the "Network of European Union Independent Fiscal Institutions" (which IFAC joined in September 2015). IFAC is structured as a Council of 5 members (one Chairperson) and a supporting analytical team of circa 6. The formal mandate of the Irish Fiscal Advisory Council (per IFAC website) is to: IFAC has been well received by Irish financial commentators and its publications are widely covered in the Irish media. The key mandated publications of the Irish Fiscal Advisory Council are: The Irish Fiscal Advisory Council has commenced an