The Development Budget Coordination Committee (DBCC) has increased its government revenue projection for this year due to stronger-than-expected collections and higher income from the customs and treasury bureaus. The DBCC, an interagency body responsible for setting the government’s...
The Philippine government has successfully locked in almost all of its existing loans with the World Bank, leading to savings of millions of dollars in taxpayer money, the Department of Finance (DOF) has announced. Finance Secretary Benjamin E. Diokno said the Bureau of the Treasury has...
The Marcos administration has secured the initial funding required to construct the Bataan-Cavite Interlink Bridge (BCIB), which, upon completion, will rank as one of the longest marine bridges globally. After the signing of a $2.11 billion loan from the Asian Development Bank (ADB), Finance...
The Department of Finance (DOF) is calling on local government units (LGUs) to update their real property taxation (RPT) to alleviate financial challenges that hinder their capacity to deliver optimal services to their constituents. In a statement on Wednesday, Dec. 13, Finance Secretary Benjamin...
The government's chief economic manager said the Philippines is on the brink of realizing President Marcos' goal of slashing the unemployment rate to a low single digit by the end of his term. In a statement, Finance Secretary Benjamin E. Diokno said that the President's aim to lower the...
The Department of Finance (DOF) is hopeful that the government's plan to tackle climate change will improve how the country provides information with organizations that grant funding for climate-related initiatives. Finance Secretary Benjamin E. Diokno said the Philippines’ Nationally Determined...
The Department of Finance (DOF) said that S&P Global Ratings' affirmation of the Philippines' investment grade credit rating signifies a vote of confidence. In a statement on Wednesday, Nov. 29, Finance Secretary Benjamin E. Diokno said that S&P Global's favorable decision follows a series...
The Department of Finance (DOF) said it is premature for the Philippines to consider implementing the minimum tax rate on corporate income, as proposed by advanced economies. Finance Secretary Benjamin E. Diokno said on Tuesday, Nov. 28, that the 15 percent global corporate minimum tax, proposed by...
The Department of Finance (DOF) said the government’s first-ever sukuk bond offering will be settled by the middle of December this year. In a briefing on Tuesday, Nov. 28, Finance Secretary Benjamin E. Diokno said the Bureau of the Treasury has just announced the sukuk bond issuance, noting that...
The Department of Finance (DOF) is optimistic that the government will be able to exceed its full-year revenue target by generating around P1 trillion in the final three months of the year. Finance Secretary Benjamin E. Diokno said he expects the national government's total revenue collection for...
The Department of Finance (DOF) has stated that the Philippine economy's macroeconomic fundamentals are strong, setting the stage for a solid start to 2024. Finance Secretary Benjamin E. Diokno said the country has maintained strong economic performance this year, despite facing difficulties in the...
The Philippines has been formally inducted into the Board of Vulnerable 20 Group of Finance Ministers (V20) - Group of Seven (G7) Global Shield Against Climate Risks, marking a pivotal step towards bolstering the nation's resilience against climate-related challenges. The Department of Finance...
