The Philippines risks delaying planned reductions to its budget deficit if President Ferdinand Marcos Jr.’s tax relief proposals don’t come with revenue-generating measures, debt watchers said.
“Ultimately, the key risk is the credibility of the medium-term consolidation path, which will depend on offsetting the proposed tax exemptions, further revenue mobilization and spending efficiency,” Young Kim, sovereign analyst at Moody’s Ratings, said in an emailed response to questions.
As it is, the…