WHAT is the plan of the country in reopening the economy? Is it tourism? Or maintain the perennial drivers: OFW and BPO? Do we remain a service economy, a creative economy or do we decide to provide first for the 110 million Filipinos with life sustenance before we even dream of being an industrial nation.

The Medium Term Fiscal Framework (MTFF) only refers to half of the equation which, by and large, are already off the chart because of the behavior of currencies globally and has created several issues in the domestic market, principal of which is inflation. 'When prices for energy, food, commodities and other goods and services rise, the entire economy is affected. Rising prices, known as inflation, impact the cost of living, the cost of doing business, borrowing money, mortgages, corporate and government bond yields, and every other facet of the economy.' Money loses its value with inflation. Inequality is heightened. Exchange rate fluctuations need to be monitored. Inflation also impacts on the cost of borrowing and leads to increased cost of living. So, the MTFF is not the solution. It offers a part of it, which is how to raise revenue to ensure we have the wherewithal for the budget.