Report for the subject: Fiscal Administration
Institution: Bulacan Agricultural State College
Program: Master of Arts in Education- Educational Management
Professor: Engr. Liberato B. Silverio
Year: 2018
Report for the subject: Fiscal Administration
Institution: Bulacan Agricultural State College
Program: Master of Arts in Education- Educational Management
Professor: Engr. Liberato B. Silverio
Year: 2018
The Constitutional and Legal Basis of Public Finance in the PhilippinesLym Relampagos Ongoy
Presentation Report for MPA 457 Public Fiscal Administration. Majority of the topic taken from the book of Secretary Leonor Magtolis Briones "Philippine Public Fiscal Administration".
The Constitutional and Legal Basis of Public Finance in the PhilippinesLym Relampagos Ongoy
Presentation Report for MPA 457 Public Fiscal Administration. Majority of the topic taken from the book of Secretary Leonor Magtolis Briones "Philippine Public Fiscal Administration".
The following item is a Letter of Intent of the government of Haiti, which describes the policies that Haiti intends to implement in the context of its request for financial support from the IMF. The document, which is the property of Haiti, is being made available on the IMF website by agreement with the member as a service to users of the IMF website.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
2. External Debt -The portion of a
country's debt that was
borrowed from foreign lenders
including commercial banks,
governments or international
financial institutions. These
loans, including interest, must
usually be paid in the currency
in which the loan was made.
3. Internal debt is the part of the
total debt in a country that is owed
to lenders within the country. A
country occasionally needs to
borrow from institutional and
individual investors for budgetary
purposes.
4. National Debt-
Total outstanding borrowings of a
central government comprising of
internal (owing to national creditors)
and external (owing to foreign
creditors) debt incurred in financing its
expenditure.
5. A debt crisis deals with countries and their ability to
repay borrowed funds. Therefore, it deals with
national economies, international loans and national
budgeting. The definitions of "debt crisis" have varied
over time, with major institutions such as Standard
and Poor's or the International Monetary Fund (IMF)
offering their own views on the matter. The most basic
definition that all agree on is that a debt crisis is when
a national government cannot pay the debt it owes
and seeks, as a result, some form of assistance.
6. Major Risks of Debt Crisis
1. High external debts are believed to have harmful effects to
the economy.
2. The reputation of a country is also at stake when external
debt is looked at and may discourage investments to enter
into the country.
3. The present foreign investors in the country would be
expected to pull capital out of the country.
4. It would lead to a decline in the Peso, making the debt
burden (which is largely denominated in dollars) more
onerous.
7.
8. External Debt in Philippines decreased to 58.506 Billion
USD in 2013 from 60.337 Billion USD in 2012. External
Debt in Philippines averaged 42.42706 Billion USD from
1981 until 2013, reaching an all time high of 60.442 USD
Million in 2011 and a record low of 20.893 Billion USD in
1981. External Debt in Philippines is reported by the
Bangko Sentral Ng Pilipinas.
9.
10. The Gross Domestic Product (GDP) in Philippines was
worth 272.02 billion US dollars in 2013. The GDP value of
Philippines represents 0.44 percent of the world
economy. GDP in Philippines averaged 60.12 USD Billion
from 1960 until 2013, reaching an all time high of 272.02
USD Billion in 2013 and a record low of 4.40 USD Billion in
1962. GDP in Philippines is reported by the World Bank.
11.
12. The Gross Domestic Product (GDP) in Philippines expanded
5.30 percent in the third quarter of 2014 over the same
quarter of the previous year. GDP Annual Growth Rate in
Philippines averaged 5.02 Percent from 2001 until 2014,
reaching an all time high of 8.90 Percent in the second
quarter of 2010 and a record low of 0.50 Percent in the third
quarter of 2009. GDP Annual Growth Rate in Philippines is
reported by the Philippine National Statistical Coordination
Board.
13.
14. Philippines recorded a Government Debt to GDP of 49.20
percent of the country's Gross Domestic Product in 2013.
Government Debt To GDP in Philippines averaged 58.35
Percent from 1990 until 2013, reaching an all time high of
74.90 Percent in 1993 and a record low of 49.20 Percent
in 2013. Government Debt To GDP in Philippines is
reported by the Bureau of the Treasury, Philippines.
15. Generally, Government debt as a percent of GDP is used
by investors to measure a country ability to make future
payments on its debt, thus affecting the country
borrowing costs and government bond yields.
16.
17. Philippines recorded a Government Budget deficit equal
to 1.40 percent of the country's Gross Domestic Product
in 2013. Government Budget in Philippines averaged -
2.17 Percent of GDP from 1988 until 2013, reaching an
all time high of 1 Percent of GDP in 1994 and a record
low of -5.30 Percent of GDP in 2002. Government
Budget in Philippines is reported by the Department of
Finance of the Philippine Republic.
18. Government Budget is an itemized accounting of the
payments received by government (taxes and other
fees) and the payments made by government
(purchases and transfer payments). A budget deficit
occurs when an government spends more money than it
takes in. The opposite of a budget deficit is a budget
surplus.
19.
20. The US Dollar increased to 44.75 Philippine Peso in
January from 44.64 in December of 2014. The
Philippine Peso averaged 46.98 from 1998 until 2015,
reaching an all time high of 56.34 in October of 2004
and a record low of 37.84 in May of 1999.
21. The USDPHP spot exchange rate specifies how much one
currency, the USD, is currently worth in terms of the
other, the PHP. While the USDPHP spot exchange rate is
quoted and exchanged in the same day, the USDPHP
forward rate is quoted today but for delivery and
payment on a specific future date.
22. HOW DOES THE PHILIPPINE GOVERNMENT PAY ITS
EXTERNAL DEBT?
Debt Service- The cash that is required for a particular
time period to cover the repayment of interest and
principal on a debt. Debt service is often calculated on a
yearly basis.
Debt burden is the cost of servicing the public debt. Most
of this debt burden is a really transfer from one
generation to another.
23. Financing the 2015 expenditure plan: Macroeconomic
environment
Fiscal program
The Aquino administration commits to maintaining the
budget deficit at 2% of GDP, which is equivalent to P283.7
billion. This will allow the administration to continue pursuing
reforms to increase revenue collections without burdening
the people with additional debt.
24. Budget Breakdown
The Aquino administration has always prioritized toward
the poor and marginalized. The 2015 budget reflects this
thrust. The administration is also aiming to continually
reduce the debt burden on our budget, by making
government more efficient and our finances more stable.
25. Of the P2.606 trillion expenditure program:
Social services: 37.1% = P967.9 billion
Economic services: 26.9% = P700.2 billion
General public services: 16.2% = P423.1 billion
Defense: 4.4% = P115.5 billion
Debt burden: 15.3% = P399.4 billion
26. Borrowings
The projected deficit for 2015 is P283.7 billion. To cover this
gap between disbursements and revenues, the
administration will borrow P700.8 billion, reducing the
country’s debt stock while also helping develop domestic
capital markets.
The goal is to raise 86.3% of the borrowing program (P605.1
billion) through the issuance of treasury bills and bonds to
local investors. The remaining 13.7% (P95.7 billion) will be
sourced externally through concessional loans from
development partners and the issuance of dollar bonds in
global capital markets.
27. Good News!
The Philippines continues to pare down its foreign debt
servicing to $1.538 billion as of this year or 37.32 percent
less than the $2.454 billion in the same period last year,
the Bangko Sentral ng Pilipinas (BSP) reported.
28. Estimated Calculation for Debt Burden for both
foreign and domestic debts of the Philippines:
Based on the 2015 Annual Budget
Debt Burden - P399.4 billion
Domestic Debt Increase per annum resulting from
budget deficit- P700.8 billion (That if the government
can stabilize the budget deficit of 2% out of the total
GDP.
Foreign Debt Service- $3.09 Billion ( P137.63 Billion)
29. (In billion of peso)
Budget 2015 (Debt Burden)- P399.4
Less: Domestic Debt- P700.8
(This is only the incremental debt per annum)
Foreign Debt- P137.63
Total Deficit (P439.03)
Where will the government get funds to cover the annual deficit of
P439.03 for the debt service? If this will continue after 10 years or
so, Philippines will most likely be one of the countries experiencing
debt crisis!
Editor's Notes
High external debts are believed to have harmful effects to the economy. By having a big external debt, the country might focus too much and allot a big part of its budget to the payment of the debt and forget the other aspects of the country that it has to work on. Also, the reputation of a country is also at stake when external debt is looked at and may discourage investments to enter into the country.
High external debt also tends to precipitate crises - if, at some point, investors lose faith in the Philippines' ability to service its external debt or its ability to roll the debt over, they would be expected to pull capital out of the country. That would lead to a decline in the Peso, making the debt burden (which is largely denominated in dollars) more onerous. This could further undermine the confidence of investors in the Philippines, leading to further capital flight and further Peso declines, creating a self-fulfilling prophecy of eventual default.