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(File photo) MANILA - The College of Arts and Sciences of the University of the Philippines Visayas hosted a webinar on the "Implementation of the Mandanas-Garcia Supreme Court Ruling and Role of Local Governments in National Development" attended by 340 participants from the various sectors. The webinar speaker, Philippine Economic Society president Charlotte Justine Diokno-Sicat, highlighted several points including the Local Government Code (LGC) of 1991, budgeting implications of the Mandanas-Garcia Ruling, and how improved local governance could be useful in national development. The Mandanas-Garcia Ruling is the Supreme Court's decision in 2018 to reallocate the budget intended for local governments. National Tax Allotment or NTA (formerly known as the Internal Revenue Allotment) was previously calculated based solely on Bureau of Internal Revenue collections. Beginning 2022, there is a 38 percent increase in the NTA because the base of which its computation was bro ....
The national government should continue investing on human capital and infrastructure in order to attain fiscal consolidation that would eventually outgrow national debt while reducing inequality for inclusive growth, an economist suggested amid the economic problems brought by the Covid-19 pandemic ....
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