The government is advised to seek methods to increase its revenue-to-GDP ratio following a continuous decline, while remaining prudent in incurring higher levels of debt, says a Finance Ministry source who requested anonymity.
According to the 2022 Fiscal Risk Report released by the Fiscal Policy Office (FPO) on Tuesday, the risk of government revenue collection in fiscal 2023 not meeting its target is low as the economy continues to expand from the previous year.
"However, in the medium term, the government should focus on increasing the revenue-to-GDP ratio, which is likely to continue to decline," the source said.
