Such budget deficits are unsustainable. We must put a stop to smuggling - estimated by foreign institutions to be as much as $10 billion (as P480 billion) a year. The uncollected VAT alone would be over P50 billion. (Francis Escudero)

Such budget deficits are unsustainable. We must put a stop to smuggling - estimated by foreign institutions to be as much as $10 billion (as P480 billion) a year. The uncollected VAT alone would be over P50 billion.

Francis Escudero

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