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Bilyonaryo - Business

Marcos Jr.’s economic team eyes higher revenue target on strong collection figures

  • June 28, 2023
  • Bilyonaryo.com

The government is set to revise its full-year revenue target upwards, propelled by a robust collection performance in the first five months of 2023, according to Finance Secretary Benjamin Diokno.

Speaking at the Kapihan sa Manila Bay forum, Diokno announced that the government had surpassed collection expectations, prompting the need for an upward revision of the revenue goal

The Development Budget Coordination Committee (DBCC) had projected a revenue of P3.73 trillion for 2023 during its recent meeting. However, Diokno did not disclose the exact magnitude of the revision but assured that an adjustment is in order.

As of the end of May, the government’s total revenue reached P1.59 trillion, reflecting a 10.83 percent increase from the previous year’s collection of P1.44 trillion.

The strong collection performance underscores the government’s fiscal strength and its ability to generate higher revenue.

  • Related News Tags: economic team, Finance Secretary Benjamin Diokno, revenue

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Hans Sy: Ultimate green warrior

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Hans Sy, the 4th of the Sy-blings, as Bilyonaryo calls them, sat down with me to explain his green initiatives in the SM Group, a chat that turned into an interesting look into how he became a sustainability champion, the lessons he learnt from his father, Henry Sy Sr., and legacy-building.

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