By far the most important of these means are monetary policy and fiscal policy. The monetary policy is made by the BangkoSentral ng Pilipinas and fiscal policy is controlled by the Department of Finance, which supervises the revenue-collecting agencies of the government. Monetary policy and fiscal policy must, to the greatest extent possible, operate harmoniously and with close coordination. Does he think that his favored monetary expansion does not have to take into account the “Build, Build, Build” program’s likely impact on the economy? And has he assessed the economy’s capacity to absorb—in terms of consumer prices and resource availabilities—all the additional purchasing power unleashed into the economy by “Build, Build, Build” and his proposed monetary expansion?

Source: The Standard November 01, 2017 12:11 UTC