The plenary hall of the House of Representatives (Dexter Barro II/MANILA BULLETIN) The House of Representatives has terminated the 2025 budget debates for the Department of Finance (DOF), National Economic and Development Authority (NEDA), and the...
San Miguel Corp.’s New NAIA Infra Corp. (NNIC) has remitted its upfront payment for the Ninoy Aquino International Airport (NAIA) public-private partnership (PPP) project, the Department of Finance (DOF) said. In a statement, Finance Secretary Ralph G. Recto said the P30 billion payment, made...
The International Finance Corp. (IFC) will assist the Philippine government in rolling out five big-ticket public-private partnership (PPP) infrastructure projects, worth a total of P62 billion. The private-sector arm of the World Bank Group recently disclosed it will provide transaction advisory...
The Asian Development Bank's (ADB) new Country Partnership Strategy (CPS) to help support the Philippines in its goal to lift an additional eight million Filipinos out of poverty by the end of President Marcos Jr.'s term, the Department of Finance (DOF) said. “It was the Marcos, Jr....
The Department of Finance (DOF) expects that the Convention on Mutual Administrative Assistance in Tax Matters (MAAC) will enhance tax administration in the country. This was after the Senate had recently approved the Philippines' participation in the MAAC, a global agreement for tax cooperation,...
The Bangsamoro Government is poised to take over the Development Bank of the Philippines' (DBP) shares in the Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP), a move that aims to strengthen its economic autonomy and support development initiatives in the region. Finance Secretary...
The Department of Finance (DOF) vowed to tackle systemic issues impacting the implementation of projects funded by the Asian Development Bank (ADB). This was after the ADB’s 2024 Philippine Portfolio Review evaluated the performance of the Department of Public Works and Highways (DPWH) and...
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...
President Marcos' chief economic manager emphasized the effectiveness of the government's interventions in stabilizing food prices and assured that efforts to manage risks will continue to keep prices low. In a statement, Finance Secretary Ralph G. Recto said that they will continue to enhance...
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 International Finance Corp. (IFC) is ramping-up investments in non-bank lenders in the Philippines, in line with its push to support more small businesses and boost financial inclusion. The IFC disclosed on Aug. 28 that its board will approve on Sept. 27 a loan investment in Asialink...
As the Philippines navigates the digital age, the financial technology sector is witnessing a major transformation. Recent studies indicated a surge in the adoption of financial mobile apps among consumers. For many Filipinos, the shift to digital finance has made managing money more...
