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Philippines News Agency

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The Philippines News Agency

The Philippines News Agency (PNA) is a web-based newswire service of the Philippine government. The PNA Headquarters are housed at the 2nd floor of the PIA building along Visayas Avenue, Quezon City. PNA's website address is http://www.pna.gov.ph

It has been 35 years since PNA was launched in an era when newswire operations relied mainly on teletype machines and typewriters. PNA has steadily paced the highly competitive and changing arena of Philippine journalism; it is now slowly but surely coming to par with the challenges posed by the globalization of media communications. This has deeply shaped modern journalism and the news media organizations that have been instrumental in creating the very conditions that made globalization a reality.

PNA has evolved today as an Internet-based news service agency that caters to the global demand for news and information to its subscribers, readers and a host of other clients. PNA's mission is spelled out clearly: to provide the government, the Presidency, the public, as well as its media and non-media clients, both local and foreign based, sober, factual, impartial and objective news and information. PNA provides news 24/7, including photos of major events, feature stories, sports news and events, local and global opinions, general information, as well as global news and feature stories. PNA employs about a hundred journalists and stringers across the country, with several foreign-based correspondents.

PNA beat reporters and stringers are deployed practically in every government office and agency, including the main offices and camps of police and security forces, to provide news 24/7 for local, regional and global subscribers and readers. PNA likewise maintains active news exchanges with news agencies of ASEAN member-countries and the Organization of Asia-Pacific News Agencies (OANA).

Philippines News Agency
www.pna.gov.ph
pnadesk@yahoo.com
+63 352 43 28,
+63 352 43 34,
+63 352 43 35
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Indonesian Foreign Minister Courtesy Call. (PNA)

Indonesian Foreign Minister Courtesy Call. (PNA)

Higher economic growth needs higher state revenues - DOF data

MANILA - - As the Philippine economy continues to grow, with economic managers setting a seven to eight percent Gross Domestic Product (GDP) growth goal for 2018-22, so is the revenue goal to provide the necessary funds for the implementation of programs for more inclusive growth.

Economic managers under the Duterte administration vow to hasten state revenues, with its share on GDP pegged at above 16 percent from next year until 2022.

Department of Finance (DOF) data show that for 2018, total revenues is targeted to account for 16 percent of GDP and gradually increase to 16.4 percent, 16.8 percent, 17 percent and 17.1 percent for 2019-22, respectively.

These growth rates have included the effect of the tax reform program as well as the veto of President Rodrigo R. Duterte on some items under the first package of tax reform that the Bicameral Conference Committee-approved before end-2017.

Under the approved first package of tax reform, total revenues were set at PHP2.806 trillion for 2018, up from the PHP2.387 trillion emerging figures for 2017.For 2019 until 2022, the figures are PHP3.160 trillion, PHP3.553 trillion, PHP3.956 trillion, and PHP4.414 trillion, respectively.

These figures were higher than the figures set by economic managers during the meeting of the inter-agency Development Budget Coordination Committee (DBCC) last December.

Under the latest DBCC figures, the proposed revenues were set at PHP2.788 trillion for 2018; PHP3.133 trillion for 2019; PHP3.530 trillion for 2020; PHP3.929 trillion for 2021; and for 2022, PHP4.387 trillion.

Budget and Management Secretary Benjamin Diokno earlier said these figures support the current administration’s development objectives, particularly on higher investments on infrastructure and social protection programs.

“We will ensure that all the revenues collected and monies disbursed will be for the benefit of our people,” he said. (PNA)