The Department of Finance (DOF) has announced its plan to mobilize billions of pesos of dormant funds held by state-owned corporations to bolster government efforts in health, social services, and infrastructure development. In a statement on Monday, July 15, the DOF said that tapping into these...
Department of Finance Secretary Ralph G. Recto called on the government’s two main tax agencies to expedite their digitalization efforts to reach the P4.27 trillion target for this year. During a meeting on Wednesday, July 11, Recto discussed with the Bureau of Internal Revenue (BIR) and the...
State-owned Philippine Guarantee Corporation (PhilGuarantee) extended loan guarantees totaling P236.98 billion to support small businesses last year, the Department of Finance (DOF) said. In a statement, Finance Secretary Ralph G. Recto, who also serves as the chairperson of PhilGuarantee,...
Finance Secretary Ralph G. Recto said that the country’s hosting of the Loss and Damage Fund (LDF) board is an opportunity to access more climate finance and investments. “We were chosen because of our strong commitment and concrete climate actions on the ground, and we thank the President for...
The Asialink Finance Corp. has secured a P125 million credit line from KEB Hana Bank Global, its first financial partnership with a South Korean bank. In a statement on Wednesday, July 10, Eillen Mangubat, Asualink president and chief operating officer, said the agreement aims to bolster the...
The Department of Finance (DOF) said the decrease in the unemployment rate in May shows that the country is making progress towards its goal of becoming an upper-middle-income country by 2025. In a statement, Finance Secretary Ralph G. Recto said the year-on-year decrease in the number of...
The Department of Finance (DOF) announced that government revenues have already achieved half of the target for the year in the first semester, indicating a promising outlook for meeting the full-year goal. Finance Secretary Ralph G. Recto said that a total of P2.13 trillion in revenues was...
After six months in office, President Marcos' chief economic manager continued to assert that there was no need for new tax proposals to enhance the government's revenue collection. Finance Secretary Ralph G. Recto reiterated his stance at a forum with business journalists on Monday, July 8,...
The Department of Finance (DOF) has forecasted a potential P5 per kilogram decrease in the average price of rice by August, attributing this drop to reduced import tariffs. Finance Secretary Ralph G. Recto said on Monday, July 8, that by lowering the tariff on imported rice from 35 percent to...
Finance Secretary Ralph G. Recto said that inflation may have already reached its highest point, projecting a gradual decline in the rate of food price increases in the coming months. Recto stated that the continued moderation in inflation may lead the Bangko Sentral ng Pilipinas (BSP) to consider...
Finance Secretary Ralph G. Recto said that inflation is expected to remain within the target band of two percent to four percent this year following its contraction in June. Recto said that implementing whole-of-government interventions, such as cash grants and tariff rate cuts, will ensure that...
Climate Reality Project branches from across the globe joined forces in Singapore for a four-day workshop on climate finance tracking and campaigning. The goal? To ensure developing countries receive the resources they desperately need to combat climate change. Organized by The Climate...
