Economic policy.

The article presents an overview of the economic policy in the Philippines. The Bangko Sentral ng Pilipinas (BSP, the central Bank) cut its interest rates by 25 basis points on November 15, 2007 by reducing its borrowing rate to 5.5% and 7.5% on its lending rates which happens to be the lowest in nearly 13 years. Meanwhile, the 2007 data from the Bureau of the Treasury tax collection failed to reach its target due to poor collection and the appreciation of peso against the US dollar.