(From BusinessWorld (Philippines))
Byline: Bernardette S. Sto. Domingo
The government's revenue effort climbed to 16.7% of gross domestic product (GDP) in the nine months to September, its highest in eight years, buoyed by improving tax collection and privatization proceeds, the Finance department said in a statement yesterday.
The nine-month revenue effort ratio, which refers to total government revenue collection - both tax and non-tax - as a percentage of GDP, went beyond the programmed 16.2% level and the 15.5% ratio recorded in the same period last year, the statement quoted Finance Sec. Margarito B. Teves as saying.
Revenue effort is …