The Department of Finance (DOF) has secured a standby fund from the World Bank that the Philippines can readily utilize during emergency or crisis situations. In a statement on Monday, April 22, the DOF announced that the signing of the Rapid Response Option (RRO) agreement with the World Bank...
The Department of Finance (DOF) said that the World Bank Group (WBG) will assemble a team to assist the Philippines in enhancing its digital infrastructure, specifically its tax system. In a statement on Saturday, April 20, the DOF said that WBG President Ajay Banga expressed support for the...
President Marcos' chief economic manager warned that developing countries, including the Philippines, are at risk of falling even further behind as global economic growth is projected to decline for the third consecutive year. Finance Secretary Ralph G. Recto said that developing nations have...
The Philippines has received backing from the World Bank Group (WBG) for the government's digitalization initiative aimed at improving tax administration and other critical sectors, a Cabinet official said. Finance Secretary Ralph G. Recto said that the WBG has shown strong support for...
The Department of Energy (DOE) is seeking for VAT-exemption on the purchase and sale of indigenous natural gas, and the sale of power using indigenous natural gas as part of the fiscal incentives to be granted under the proposed law developing the Philippines’ natural gas industry. Energy...
Two Washington-based international strategic advisory firms have indicated their readiness to support the Maharlika Investment Fund (MIF) in attracting investments and to assist the Philippines' digitalization efforts for revenue generation. In a meeting with Finance Secretary Ralph...
The Philippines may attain a single-digit poverty rate sooner than the target set by the Marcos administration, the Department of Finance (DOF) said. In a statement, Finance Secretary Ralph G. Recto said the country might reach a poverty rate of 9.3 percent by 2026, two years earlier than the...
Reinforcing the stream of ‘clean energy finance’ for emerging economies is seen as the major stimulus on concretizing the major commitments in last year’s climate change summit and must also top the agenda in this year’s COP29 in Baku, Azerbaijan. Dr Fatih Birol, executive director of the...
Removing the restrictive economic provisions in the Constitution would help alleviate inflation and enhance real wages for Filipino workers, according to a former finance chief. As concerns about workers' compensation and job availability top the list of priorities for Filipinos, former Finance...
Finance Secretary Ralph G. Recto has commended the Prime Infrastructure Capital Inc. for investing in two big-ticket storage power projects in Luzon. Recto said these investments will help ensure a stable electricity supply for the people and contribute to the country's goal of transitioning to a...
The Department of Finance (DOF) and the Securities and Exchange Commission (SEC) are discussing a plan to come out with clear guidelines governing the registration and trading of cryptocurrencies in the Philippines. In an interview after the induction of the officers of the Economic Journalists...
The Philippines and the Japan International Cooperation Agency (JICA) have inked loan agreements for two big-ticket infrastructure projects aimed at fostering inclusive growth in the country. Finance Secretary Ralph G. Recto and JICA Chief Representative Takema Sakamoto recently finalized the loan...
