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
Fiscal Observatory of Latin America and the Caribbean of fiscal policy in Latin America and supports debating of fiscal subjects among fiscal authorities, international organizations and other experts in the subject. Fiscal Observatory of Latin America and the Caribbean The Fiscal Observatory of Latin America and the Caribbean (OFILAC) is an initiative of the United Nations Economic Commission for Latin America and the Caribbean, especially by the Division for Economic Development, to contribute to improving fiscal policy through the dissemination of studies and debate. Financial support is provided by the Spanish Agency for International Cooperation and Development (AECID). Other partners of the Fiscal Observatory of Latin America and