CITY GOVERNMENT OF LIGAO
LIGAO COMMUNITY COLLEGE
Tomolin, Ligao City, 4504
Email – Address: ligaocommunitycollege@gmail.com
Tel Nos.: 0926 – 772 - 1213 / (052) 431-4142
GE 3 - Contemporary World
Project 2 – News Analysis
Name: Garcia, Jessica P. Block: MATH 1B
I. Objectives
A. Analyze contemporary news events in the context of globalization
B. Analyze global issues in relation to Filipinos and the Philippines
II. Instruction
1. Get a newspaper (Broadsheet)
2. Look for a contemporary/current news item
3. Read and critically analyze the message and content of the selected news
4. Paste the content of the news
5. Answer the following guide questions.
What is the main idea
of the article? Please
list several facts or
arguments that
support the main idea
of the article.
What do you feel after
reading this article?
The main idea of the article is that the Philippine government achieved a
budget surplus of ₱6.3 billion in October 2024, reversing its fiscal deficit
trend, due to higher revenue collections and controlled expenditures.
Supporting Facts:
1.Revenue Surplus: The government posted a ₱6.3 billion budget surplus
in October 2024, as revenue collections outpaced spending.
2.Revenue Growth: Revenue collections increased by 18.7% to ₱348.3
billion in October 2024, driven by higher tax revenues and improved
collections.
3.Expenditure Control: Government spending in October 2024 decreased
by 1% to ₱342 billion compared to the same month in 2023.
4.Tax Contributions: The Bureau of Internal Revenue (BIR) collected
₱244.7 billion (up 18.6%), and the Bureau of Customs (BOC) collected
₱78.5 billion (up 10.2%), contributing significantly to the revenue surge.
5.Non-Tax Income: Non-tax revenues also grew by 14.5%, adding to the
overall increase in collections.
6.Year-to-Date Deficit Reduction: The cumulative budget deficit from
January to October 2024 narrowed to ₱951.4 billion, 10.5% lower than in
the same period in 2023.
The article highlights the government’s efforts to enhance tax
administration and control spending as factors contributing to the
improved fiscal performance.
After reading this article, I feel hopeful. It’s good to see the government
managing its money well and collecting more taxes than it spends. This
shows progress in how things are being run.
I also hope they can keep this up and use the extra money to improve
things for everyone, like better schools, roads, and services. It’s a good
start, but there’s still more to do.
Why do you think this
text was created?
What might have been
the author's or
publisher's purpose?
What evidence
supports your theory?
This text was created to inform people about the government’s financial
progress in October 2024. The author likely wanted to show that the
government is improving its budget management, especially by collecting
more taxes and controlling spending.
What globalization
events or related
principles are shown in
the article? Explain
their connection with
the lessons you've
learned in the
contemporary world.
The article shows globalization through the increase in tax revenues,
which may be connected to higher trade activity and imports handled by
the Bureau of Customs. This reflects how global trade affects a country’s
economy, as more goods moving across borders lead to more taxes
collected.
How is the
phenomenon related
to globalization
affecting your local
area?
How does the article
affects your personal
life?
The evidence supporting this is the detailed data in the article, like the ₱6.3
billion surplus, the increase in tax collections, and the lower spending. The
publisher probably wanted to share positive news about the country’s
finances to keep readers updated on the economy.
Another principle is the government managing its finances better to stay
competitive in a globalized world. Countries need strong economies to
attract investors and grow in a connected global market. In the
contemporary world, we learn how global trade and economic policies are
linked, and this article shows how the Philippines is working to strengthen
its position.
Globalization affects my local area by bringing in more goods, businesses,
and jobs. For example, imported products are easier to find in stores
because of global trade. Local businesses also sell their products to other
countries, which helps the economy grow.
At the same time, globalization can bring challenges, like competition for
local businesses from big international companies. It also affects jobs, as
some industries grow while others struggle to keep up. Overall,
globalization connects my area to the rest of the world, creating both
opportunities and challenges.
The article affects my personal life by giving me hope that the government
is managing money better, which could lead to better public services, like
schools, roads, and healthcare. If the country’s economy improves, it
might also create more job opportunities and a better quality of life for
everyone.
At the same time, it reminds me of the importance of paying taxes and
being aware of how the government uses those funds to help the country
grow. It makes me think about how these changes could affect my future
and my community.
What problem that
you can see related to
the topic/article your
researched.
A problem related to the article is the challenge of sustaining the budget
surplus in the long term. While the government collected more revenue
and spent less in October, there’s always a risk that future spending
needs—like disaster recovery, infrastructure, or social programs—could
increase and create deficits again.
Another issue could be ensuring that the higher tax collections are fair and
don’t burden ordinary citizens or small businesses too much. If taxes are
not managed well, it might lead to public dissatisfaction or economic
inequality. These are challenges the government needs to address to keep
the progress steady and benefit everyone.
How these problem
can be addressed?
These problems can be addressed by:
1.Better Spending Plans: The government should create clear and efficient
budgets to ensure money is spent on projects that benefit the community,
like schools, roads, and healthcare.
2.Fair Tax Policies: Implementing fair tax policies can help ensure that
taxes don’t burden small businesses or ordinary people too much.
3.Promoting Economic Growth: Encouraging local and foreign
investments can create more jobs and increase income, which helps
sustain tax revenues.
4.Transparency and Accountability: Making government spending
transparent allows people to see where money goes, which helps build
trust and ensures responsible use of funds.