The Department of Finance (DOF) is exploring changes to the charters of the Land Bank of the Philippines and the Development Bank of the Philippines (DBP) to pave the way for their potential public listing. Finance Secretary Ralph G. Recto, speaking at a reception hosted by the Philippine Stock...
Finance Secretary Ralph G. Recto has suggested exploring the potential for the Philippines to establish a free trade agreement with the United Kingdom (UK). This proposal was raised during Recto’s recent meeting with UK Prime Minister’s Trade Envoy to the Philippines Richard Graham and UK...
The Department of Finance (DOF) said that all pending tax incentive applications that were previously referred to the Fiscal Incentives Review Board (FIRB) but do not meet the new investment capital threshold will be returned to the Investment Promotion Agencies (IPAs). According to the DOF, this...
President Marcos’ chief economic manager welcomed the decision to award the long-overdue Ninoy Aquino International Airport (NAIA) rehabilitation project to a private sector consortium. Finance Secretary Ralph G. Recto said that the P170.6 billion NAIA rehabilitation project represents the...
Two of President Marcos’ economic managers are pushing for the integration of healthcare coverage as a part of the compensation package for all government employees. Budget Secretary Amenah F. Pangandaman and Finance Secretary Ralph G. Recto both said that the government is now considering...
Investing in the government’s retail bonds is as effortless as ordering a loved one's favorite meal for delivery! Finance Secretary Ralph G. Recto said that retail treasury bonds (RTBs) are readily accessible through a few taps on mobile phones, offering Filipinos both here and abroad secure,...
While the proposed wage increase is meant to support workers, the Department of Finance (DOF) is concerned that it could lead to inflationary pressures and impose a heavier burden on small business owners. Finance Secretary Ralph G. Recto said on Thursday, Feb. 15, that the proposed legislation for...
New taxes are still a possibility, as the Department of Finance (DOF) clarified that the Marcos administration is just currently not keen on introducing additional tax proposals, apart from its existing priority tax measures. Finance Secretary Ralph G. Recto said the DOF is not developing new tax...
After the shelving the planned merger, the Department of Finance (DOF) is now considering the public listing of Land Bank of the Philippines and the Development Bank of the Philippines (DBP). On Wednesday, Feb. 14, Finance Secretary Ralph G. Recto told Manila Bulletin that informal discussions have...
Finance Secretary Ralph G. Recto calls on the Bureau of Customs (BOC) to keep the cash flowing, stressing the crucial link between efficient tax collections and funding at least a fifth of the government's spending. Addressing BOC employees during the agency’s anniversary celebration on Tuesday,...
Finance Secretary Ralph G. Recto said that the central bank’s Monetary Board (MB) will hold its policy meeting on Wednesday, Feb. 14, instead of the originally scheduled Thursday, Feb. 15. Recto, who represents the government on the MB, explained that the seven-member body decided to advance the...
Finance Secretary Ralph G. Recto emphasized the need to promote a culture of saving and investing in the country, while encouraging Filipinos to consider investing in retail treasury bonds (RTB). “We should instill in our people a mindset that embraces and normalizes a culture of saving and...
