President Marcos’ chief economic manager said that the country’s labor force remains robust, and lower inflation is expected to increase jobs in the wholesale and retail trade sectors through higher spending. Finance Secretary Ralph G. Recto said that the ongoing decline in inflation “will...
The Intergovernmental Fiscal Policy Board (IFPB) has approved guidelines for official development assistance (ODA) loans to the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). In a statement on Tuesday, Sept. 3, Finance Secretary Ralph G. Recto said that these guidelines will facilitate...
The Marcos administration successfully completed its second offshore commercial borrowing, raising $2.5 billion, the Department of Finance (DOF) announced. In a statement on Thursday, Aug. 29, the DOF reported that Manila sold notes maturing in 5.5 years and 10.5 years, along with 25-year debt...
The Philippines is set to secure a $500 million loan from the Asian Development Bank (ADB) to support its climate action initiatives, the Department of Finance (DOF) announced. During a meeting with Finance Secretary Ralph G. Recto, ADB President Asakawa stated that they are finalizing the approval...
The Marcos administration has launched a three-tranche US dollar-denominated bond offering, marking its second foray into the international debt markets this year. According to a report from Moody's Ratings, the bonds will mature in 2030, 2035, and 2049. Notably, a portion of the 25-year debt is...
The national government's budget deficit widened in the first seven months of the year, despite revenues growing at a faster rate than public spending, data from the Department of Finance (DOF) showed. During the DOF budget deliberations on Tuesday, Aug. 27, Finance Secretary Ralph G. Recto...
While the green halo of renewables is highly regarded as the planet’s ultimate shield against climate change risks, the flourishing ‘silent infiltration’ of terrorist financing in many energy markets around the world is a ‘dark undercurrent’ that Philippine financial regulators will be...
Seven former secretaries of the Department of Finance (DOF) have expressed their support for utilizing excess funds from government-owned or controlled corporations (GOCCs) to finance important government projects. In a joint statement on Tuesday, Aug. 27, the former DOF chiefs said that...
The Department of Finance (DOF) is offering the government’s remaining shares in NLEX Corp. to the public, which the Pangilinan group failed to acquire due to privatization rules. Finance Undersecretary Catherine L. Fong confirmed to Manila Bulletin that the government still holds 64,920 shares...
The Department of Finance (DOF) has unveiled its comprehensive array of strategies designed to strengthen revenue operations and enhance transparency in commercial activities. Under the banner of the BRAVE framework, the DOF, along with its revenue agencies, said it is leveraging digitalization and...
Senator Joseph Victor “JV” Ejercito urged the government on Thursday, August 22 to put a stop to the planned transfer of another P10-billion of Philippine Health Insurance Corp. (PhilHealth) funds to the National Treasury. The P10-billion is supposed to be the second tranche of...
Senior Netflix officials support the bill on 12 percent value-added tax (VAT) for foreign digital service providers, citing it would level the playing field between local and international digital service providers, according to the Department of Finance (DOF). According to a Facebook post on...
