The Department of Finance (DOF) has defended the implementation of the rice tariffication law (RTL), which allows unrestricted importation of rice at 35 percent tariff, as presumptive president Ferdinand “Bongbong” R. Marcos Jr. is poised to suspend the three-year law enacted by outgoing...
Finance Secretary Carlos G. Dominguez III said the administration of presumptive president Ferdinand “Bongbong” R. Marcos Jr. needs to increase government revenues while eliminating wasteful expenditures to get ahead of the country’s debt problem. After the Bureau of the Treasury reported...
The Department of Finance (DOF) has begun the discussion with the team of presidential frontrunner Ferdinand “Bongbong” R. Marcos Jr. for a smooth transition of power. Finance Secretary Carlos G. Dominguez III said on Tuesday, May 10, that the transition process has started, describing the...
A demographic partnership between Manila and Tokyo has become more feasible following the enactment of economic liberalization measures that opened wide the Philippines to foreign investors, the Department of Finance (DOF) said. During his recent meeting with Japan Minister for Foreign Affairs...
With his term ending in two months, Finance Secretary Carlos G. Dominguez III boasted one “proud tradition” in the Department of Finance (DOF): policy continuity despite changes in political leadership. At the dinner hosted by Dominguez for former DOF secretaries, he said that under his watch...
Two months before his term ends, Finance Secretary Carlos G. Dominguez III thanked on Friday, April 29, his fellow workers in the Department of Finance (DOF) for their “excellence, passion and commitment.” On the occasion of the DOF’s 125th anniversary, Dominguez lauded the department’s...
Finance Secretary Carlos G. Dominguez III said the robust growth of the Philippines’ now fully reopened economy, buttressed by reforms that “widen the horizon for investments,” makes it the best place in the region to do business. With Japan-based debt watcher Rating and Investment...
The Japanese government has extended another loan to the Philippines for the Covid-19 recovery programs, the Department of Finance (DOF) announced on Tuesday, April 26. Tokyo and Manila signed a 30-billion yen, roughly P12.3 billion, in support of the Philippine government’s continuing efforts to...
The Duterte administration has sealed 22 loan agreements with the World Bank Group (WBG) in the past five-years, bulk of which were used to help finance to country’s war chest against the Covid-19 pandemic, the Department of Finance (DOF) reported. In a statement on Monday, April 25, Finance...
US firm Cerberus Frontier has completed the acquisition of the former Hanjin shipyard at the Subic Bay Freeport in Zambales, a “win-win” takeover especially for the Filipino people, according to the Department of Finance (DOF). At the reception in Washington marking Cerberus’ full takeover of...
State-run Power Sector Assets and Liabilities Management Corp. (PSALM) wants to trim down further its financial obligations by implementing cost-cutting measures while increasing revenue collection, the Department of Finance (DOF) said. In a statement, Irene Joy Besido Garcia, PSALM president and...
President Duterte’s successor should avoid accumulation of additional government debt, as the Department of Finance (DOF) said the next administration should prioritize policies that will entice more economic activity. Finance Secretary Carlos G. Dominguez III said on Thursday, April 21, that the...
