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    Public Finance Report

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    DARLENE
    The document discusses several topics related to public finance including the definition and objectives of public finance, examples of socialist economies, the top 10 most socialist countries, components of public fiscal administration, and the history of financial management in the Philippines under different presidential administrations. It provides information on these topics in lists and paragraphs without any clear overall main point or thesis.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Public Finance Report

    Uploaded by

    DARLENE
    160 views9 pages
    The document discusses several topics related to public finance including the definition and objectives of public finance, examples of socialist economies, the top 10 most socialist countries, components of public fiscal administration, and the history of financial management in the Philippines under different presidential administrations. It provides information on these topics in lists and paragraphs without any clear overall main point or thesis.

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    The document discusses several topics related to public finance including the definition and objectives of public finance, examples of socialist economies, the top 10 most socialist countries, components of public fiscal administration, and the history of financial management in the Philippines under different presidential administrations. It provides information on these topics in lists and paragraphs without any clear overall main point or thesis.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    160 views9 pages

    Public Finance Report

    Uploaded by

    DARLENE
    The document discusses several topics related to public finance including the definition and objectives of public finance, examples of socialist economies, the top 10 most socialist countries, components of public fiscal administration, and the history of financial management in the Philippines under different presidential administrations. It provides information on these topics in lists and paragraphs without any clear overall main point or thesis.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
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    PUBLIC FINANCE
    • The study of the role of the government in the
    economy.
    • defined as the aspect of economics which deals
    with government revenue and expenditure. It
    involves the financial activities of government
    as they relate to revenue or income expenditure
    and debt operation and their overall effect on
    the economy.
    OBJECTIVES OF PUBLIC FINANCE
    1. Provision of employment
    2. Revenue generation
    3. Satisfaction of needs
    4. Price stabilization
    5. Equitable distribution of income
    SOCIALIST ECONOMY
    An economic theory of social organization that advocates
    that the means of production, distribution, and
    exchange should be owned or regulated by the
    community as a whole.
    TOP 10 MOST SOCIALIST COUNTRIES IN THE WORLD
    • China
    • Denmark
    • Finland
    • Netherlands
    • Canada
    • Sweden
    • Norway
    • Ireland
    • New Zealand
    • Belgium
    PUBLIC FISCAL ADMINISTRATION
    Refers to the

    • Formulation
    • Implementation • Taxation
    • Evaluation • Revenue Administration
    • Resource Allocation
    • Budgeting
    • Public Expenditure
    • Borrowing
    of the • Debt Management
    Policies and • Accounting
    Decisions on • Auditing
    HISTORY OF PHILIPPINE FINANCIAL MANAGEMENT

    Fiscal policy during the Marcos administration was


    primarily focused on indirect tax collection and on
    government spending on economic services and
    infrastructure development.
    The first Aquino administration inherited a large fiscal
    deficit from the previous administration, but managed
    to reduce fiscal imbalance and improve tax collection
    through the introduction of the 1986 Tax Reform
    Program and the value added tax.
    The Ramos administration experienced budget surpluses due to
    substantial gains from the massive sale of government assets
    and strong foreign investment years and administrations.
    The Estrada administration faced a large fiscal deficit due to the
    decrease in tax effort and the repayment of the Ramos
    administration’s debt to contractors and suppliers.
    During the Arroyo administration, the Expanded Value Added Tax
    Law was enacted, national debt-to-GDP ratio peaked, and
    underspending on public infrastructure and other capital
    expenditures was observed.

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