We can truly celebrate if revenues are equal to expenditures. Assuming the other half of our revenue target of P4.27 trillion is achieved in the second semester, with a 2024 national budget of P5.767 trillion, our budget deficit this year is still huge at P1.5 trillion.
I am aware that debt and deficit are a given in all economies. The US, for example is drowning in debt with US$34T (121% of GDP) and Japan (255%) but their toll-free multi-level highways and other public infra as well as their social services are far better and more efficient.
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