Premid

• Public Finance

  Study of the role of the government in sourcing public funds, allocating them, and spending for the delivery of basic services to its citizens
• Capital Expenditure (CAPEX)

  Expenditures made by the government for the acquisition, construction, or improvement of physical assets that are intended to provide benefits over multiple years
• Operating Expenditure (OPEX)

  Day-to-day expenses incurred by a business in its normal course of operations, such as salaries of government employees, administrative costs, utilities, maintenance of government facilities, supplies, and other recurring expenses
• Components of Public Finance

  • Collection of revenue
  • Expenditures to support society
  • Implementing a financing strategy (such as issuing government debt)
• Main components of Public Finance

  • Tax collection
  • Customs Duties and Tariffs
  • Budget
  • Expenditures
  • Deficit
  • Surplus
  • National Debt
• When a government has a deficit, it spends more than it collects in revenue
• When a government has a surplus, it has less expenditures than it collects in taxes
• National Debt is the total amount of money that a government owes to creditors, typically as a result of borrowing to finance its operations and cover budget deficits
• Borrowing funds to cover deficits is usually accomplished by issuing government debt in the form of bonds or treasury securities
• The national debt of the Philippines stood at P14.48 trillion

  End of October 2023
• The national debt of the Philippines was P14.27 trillion

  End of September 2023
• Philippine National Government Composition

  • Executive Branch
  • Legislative Branch
  • Judiciary Branch
• Executive Branch

  • Headed by the President of the Philippines, who serves as both the head of state and the head of government.
  • Responsible for implementing and enforcing laws, managing the day-to-day operations of the government, and conducting foreign affairs.
  • Includes various departments and agencies tasked with specific functions such as finance, defense, education, health, and more.
  • The President is elected by popular vote for a single six-year term and can appoint members of the Cabinet, subject to confirmation by the Commission on Appointments.
• Commission on Elections (COMELEC) is responsible for administering elections, ensuring free, fair, and honest electoral processes
• Commission on Audit (COA) is tasked with auditing government revenues and expenditures to ensure transparency and accountability
• FISCAL LOCAL AUTONOMY

  The ability of local government units (LGUs) to generate revenue, allocate funds, and make financial decisions without significant interference from the central or national government
• Local governments receive funds

  Through the Internal Revenue Allotment (IRA), which constitutes their share of revenues mandated share of the national internal revenue taxes collected by the central government that is automatically allocated to local government units (LGUs) in the Philippines
• Services covered under fiscal services

  • Civil service
  • Planning
  • Conduct of foreign affairs
  • General research
  • Public order and safety
  • Centralized services
• Services covered under labor sector

  • Formulation, implementation, and regulation of labor policies
  • Promotion, placement, and regulation of domestic and overseas employment
  • Maintenance of industrial peace
• Services covered under social service sector

  • Upliftment of disadvantaged families and children
  • Rehabilitation of the physically and socially handicapped
  • Assistance to distressed and displaced individuals and families
  • Care of the aged and other welfare services
  • Payments for retirement, pension, and other social security benefits
  • Provision of services and facilities for recreational, religious, and other social activities not elsewhere classified
• Departments

  • Department of Agrarian Reform (DAR)
  • Department of Agriculture (DA)
  • Department of Budget and Management (DBM)
  • Department of Education (DepEd)
  • Department of Energy (DOE)
  • Department of Environment and Natural Resources (DENR)
  • Department of Finance (DOF)
  • Bureau of Internal Revenue (BIR)
  • Bureau of Customs (BOC)
  • Department of Foreign Affairs (DFA)
  • Department of Health (DOH)
  • Department of the Interior and Local Government (DILG)
  • Department of Human Settlements and Urban Development (DHSUD)
  • Department of Information and Communications Technology (DICT)
  • Department of Justice (DOJ)
  • Department of Labor and Employment (DOLE)
  • Department of National Defense (DND)
  • Department of Public Works and Highways (DPWH)
  • Department of Social Welfare and Development (DSWD)
  • Department of Tourism (DOT)
  • Department of Trade and Industry (DTI)
  • Department of Transportation (DOTr)
  • Department of Migrant Workers (DMW)
• The Bureau of Internal Revenue (BIR) is responsible for collecting national taxes and enforcing penalties and fines
• The Bureau of Customs (BOC) is responsible for the assessment and collection of customs duties, tariffs, and other import and export taxes. It ensures that goods entering or leaving the country comply with customs laws and regulations
• Senate

  Composed of 24 senators who are elected nationally, serving six-year terms. They participate in lawmaking, ratifying treaties, and confirming presidential appointments.
• House of Representatives

  Composed of district and party-list representatives elected for three-year terms. They draft, debate, and pass legislation, including the national budget.
• Powers of Congress

  • Enact laws
  • Levy taxes
  • Declare war
  • Approve treaties
  • Conduct investigations
• Judicial Branch

  Headed by the Supreme Court of the Philippines, which serves as the highest court in the land and the final arbiter of constitutional questions
• Judicial Branch

  • Responsible for interpreting laws, resolving legal disputes, and ensuring that justice is served
• Supreme Court

  Composed of a Chief Justice and 14 Associate Justices, all appointed by the President from a list provided by the Judicial and Bar Council and confirmed by the Commission on Appointments
• Lower courts

  • Court of Appeals
  • Regional trial courts
  • Municipal trial courts
• Lower courts

  Handle cases at various levels of the judicial system
• Civil Service Commission (CSC)

  oversees the recruitment, promotion, and development of civil servants, ensuring professionalism and integrity in the bureaucracy.
• Department of Agriculture (DA):

  • Responsible for the promotion and development of the agricultural sector.
  • Implements policies and programs to enhance food security, increase productivity, and support rural development.
• Department of Interior and Local Government (DILG):

  • Oversees local government units (LGUs) and ensures their compliance with national laws and policies.
  • Promotes peace and order, disaster preparedness, and community development initiatives.
• Department of Justice (DOJ):

  • Serves as the principal law enforcement agency of the government.
  • Administers the criminal justice system, provides legal advice to government agencies, and prosecutes cases on behalf of the state.
• Department of Tourism (DOT):

  • Promotes the Philippines as a tourist destination and develops the tourism industry.
  • Implements marketing campaigns, facilitates tourism infrastructure development, and ensures the sustainability of tourism resources.
• DOT

  • Develops and regulates transportation policies, programs, and infrastructure projects.
  • Oversees land, air, sea, and rail transportation systems to ensure safe, efficient, and sustainable mobility.
• Department of Information and Communications Technology

  is responsible for formulating and implementing policies and plans to promote the development and growth of the information and communications technology (ICT) sector in the Philippines.