CREDIT rating agency Moody's Investors Service forecasts that the Philippines' tax revenue to gross domestic product (GDP) ratio will improve to 16 percent this year, helped in part by the increase in revenue base over the past five years.
"I think we are in a situation where revenue this year, we're forecasting at over 16 percent of GDP," Moody's Investors Service Vice President and Senior Credit Officer Christian de Guzman said in a briefing on Thursday in Makati City.
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