Economy 1 MIN READ

Philippines’ Marcos pledges tax and investment reforms in national address

July 25, 2022By Reuters

Philippine President Ferdinand Marcos Jr pledged on Monday to make his country a destination for investment and change its tax system, while implementing solid fiscal policy management.

Speaking before Congress in his first state of the nation address, Marcos, who won a May election in a landslide, said the country was targeting 6.5 to 7.5% gross domestic product growth this year. He said growth momentum remained firm but the recovery from the pandemic was still ongoing.

(Reporting by Karen Lema and Neil Jerome Morales; Writing by Martin Petty; Editing by Ed Davies)

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