The Market Monitor Minding the Nation's Business

By Riza Lozada Factory output is on a slump for September to November of last year but the government’s chief economist expect the implementation of the Tax Reform for Inclusion and Acceleration Act (Train) will fuel a recovery for the manufacturing output in 2018.

The next target of the Duterte administration in the tax reform program are reduction of the corporate tax and the streamlining of fiscal incentives that pose a drain on the government finances.

The Department of Budget and Management (DBM) has set a proposed budget of P3.4 trillion for 2019, which is 1.5 percent higher than the P3.35 trillion budget for this year, Budget Secretary Benjamin Diokno said.

Filipinos’ access and use of formal financial products and services continues to improve in the country, the Bangko Sentral ng Pilipinas (BSP) said in its latest report on the state of financial inclusion.

SM Foundation distributed relief packs to internally displaced persons and victims of typhoons Urduja and Vinta that ravaged parts of Visayas and Mindanao during the holiday season.

The Metro Manila Development Authority said it would provide free rides for commuters if necessary as it cracked down on smoke-belching and ill-quipped public utility vehicles.

Three unsolicited project proposals for rail, airport and flood control are expected to hurdle regulatory approval and rolled out early this year, having been identified as priority infrastructure projects, the Public-Private Partnership (PPP) Center said.

Vehicle manufacturers are “cautious” on sales projections this year as higher taxes on cars took effect, an industry group said January 12.

The Philippines needs to offer more routes to various destinations in the country to attract more tourists, the Department of Tourism said.

San Miguel Corp. (SMC) has started work on an expressway project that is seen to cut travel time between Taguig City and the Batasan Complex in Quezon City to only 35 minutes.