The World Bank sounded the alarm yesterday over the Philippines’ failure to meet its five-month revenue target, saying it puts in question the state’s ability to sustain its fiscal reforms and meet deficit goals.

Outgoing country director Joachim Von Amsberg said the government should improve the efficiency of its tax collections and protect revenue collectors from political pressure.

"The credibility of the government’s reform programs and fiscal targets is very much at stake when after five months the data still shows the weakness in tax collection," Amsberg told the foreign correspondents association in Manila.

The Southeast Asian country has set a budget deficit goal of P63 billion ($1.3 billion), or 0.9 percent of gross domestic product, for the year.

But financial markets are building in expectations the government will miss its full-year target for the first time in four years as tax collections disappoint.

Total revenues for the first five months of the year reached P432.6 billion, 8 percent short of the government’s internal targets, and inefficiencies in tax collection and administration were blamed for the shortfall.

Amsberg said the government must get better at collecting what it is owed by fully implementing tax laws and reforms already in place.