Photo Release

September 9, 2021

DBCC briefing continues: Sen. Juan Edgardo “Sonny” Angara, chairman of the Committee on Finance, presides over the continuation of the Development Budget Coordinating Committee (DBCC) briefing Thursday, Sept. 9, 2021, on the 2022 National Expenditure Program. Angara asked Finance Secretary Carlos “Sonny” Dominguez if the goal posts on fiscal discipline such as the 10 percent deficit to Gross Domestic Product (GDP) ratio and the 60 percent debt to GDP ratio have moved to give some allowance for stimulus spending in the light of the COVID-19 situation. Dominguez surmised that the organizations evaluating the country’s credit standing are in the process of rethinking the numbers, given that "all around the world, people are breaching those numbers" and interest rates seemed to be very low. Bangko Sentral Governor Benjamin Diokno and Socioeconomic Planning Secretary Karl Chua also attended the virtual briefing. (Screen grab/Senate PRIB)

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