The Second General Membership MART Meeting was held last August 9, 2007 at the Hotel Intercontinental where Finance Undersecretary and Acting Treasurer Roberto Tan discussed the fiscal targets and prospects of the National Government for 2007 to 2008. In his discussion, the Undersecretary reiterated that the NG is maintaining its Php63Billion deficit target for 2007 despite poor collection results from the BIR and BOC for the first half of the year. As of 1H’07, NG deficit is Php9.7Billion higher than programmed.

According to Tan, the NG plan to achieve the target deficit through fast-tracking the privatization of government assets and improving tax collections for the second half. However, he was quick to point out that the government is giving a leeway from the target but will be kept at nominal so as not to negatively impact the country’s financial markets. For 2008, the NG is looking at a balanced budget but is likewise maintaining its infrastructure plans for the said year.