1. The government's tax revenue increased by 10.3% from PhP 1,217,663 million in 2020 to PhP 1,343,454 million in 2021. 2. Decrease in fees for government transactions reduced non-tax revenue by -37.7% from PhP 235, 333 million in 2020. 3. Borrowing rates increased to respond to inflation exceeding the target. 4. The government's expenditures increased from PhP 2,013,728 million in 2020 to PhP 2,206,424 million in 2021. 5. Bangko Sentral ng Pilipinas reduces key policy rates from 5.4% to 4.7%.

1. The government's tax revenue increased by 10.3% from PhP 1,217,663 million in 2020 to PhP 1,343,454 million in 2021. 2. Decrease in fees for government transactions reduced non-tax revenue by -37.7% from PhP 235, 333 million in 2020. 3. Borrowing rates increased to respond to inflation exceeding the target. 4. The government's expenditures increased from PhP 2,013,728 million in 2020 to PhP 2,206,424 million in 2021. 5. Bangko Sentral ng Pilipinas reduces key policy rates from 5.4% to 4.7%.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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