The Department of Finance (DOF) has announced its readiness to expedite local government units' (LGUs) access to climate financing through efficient resource mobilization and increased private sector participation. In a statement, Finance Secretary Benjamin E. Diokno expressed the readiness of the...
President Marcos’ chief economic manager has expressed “full confidence” that the Philippine economy remains firmly on the path to recovery and progress despite growing below target. Finance Secretary Benjamin E. Diokno said the country’s first three-quarter gross domestic product (GDP)...
The Philippines will benefit from the new credit line approved by the World Bank that aims to minimize the impact of major natural disasters and health crises on the domestic economy, the Department of Finance (DOF) said. Finance Secretary Benjamin E. Diokno said the $500-million standby credit...
The Bureau of Customs (BOC) has made significant advancements under the leadership of Finance Secretary Benjamin E. Diokno, as it intensifies efforts to combat illicit trade and enhance trade facilitation and border control. Diokno emphasized the critical importance of curbing illicit trade, citing...
The Department of Finance (DOF) vowed to help the private sector create an inclusive and sustainable business environment in the Philippines. During the Asia-Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) meeting, Finance Secretary Benjamin E. Diokno recognized the vital...
Bureau of Internal Revenue (BIR) Commissioner Romeo D. Lumagui Jr. expressed gratitude to the Department of Finance (DOF) for acknowledging the tireless efforts in raising government funds. In a press release last Nov. 15, the DOF praised the BIR for performing exceptionally well in revenue...
The Department of Finance (DOF) is confident that the Bureau of Internal Revenue (BIR), the government’s main tax agency, would hit its collection targets for the medium-term. In a statement, Finance Secretary Benjamin E. Diokno said the BIR was able to achieve a historic level of tax collection...
Finance Secretary Benjamin E. Diokno, the government’s chief economic manager, expects the Philippine economy to grow by close to six percent this year. The Philippine Statistics Authority reported on Thursday a better-than-expected gross domestic product (GDP) growth of 5.9 percent in the third...
The Department of Finance (DOF) has reported that the country's debt and fiscal indicators improved in the third quarter owing to the robust economic performance. As of September 2023, the government's debt-to-gross domestic product (GDP) ratio, a measure of the country's debt relative to its...
The Department of Finance (DOF) said the job quality for Filipinos is steadily improving, with the country's underemployment rate dropping below its pre-pandemic level. In a statement, Finance Secretary Benjamin E. Diokno said the underemployment rate of 10.7 percent recorded in September was the...
Finance Secretary Benjamin E. Diokno has ramped up the anti-graft efforts of the Department of Finance through the strengthened operations of the Revenue Integrity Protection Service (RIPS). “Prudent fiscal management must be underpinned by transparency and accountability. As custodians of public...
President Marcos' chief economic manager said the government's swift and resolute actions to combat inflation were responsible for the considerable decrease in consumer prices recorded in October. In a statement, Finance Secretary Benjamin E. Diokno lauded the 4.9 percent headline inflation...
