Finance Secretary Benjamin E. Diokno expects the Philippine economy would grow faster than expected this year due to surging manufacturing and construction sectors, as well as strong domestic demand. In a commentary released on Wednesday, Dec. 28, Diokno said the country’s economy, as measured by...
Individual taxpayers will get income tax breaks next year, providing Filipino consumers additional purchasing power, but would result in billions of foregone government revenues. This is because the second tranche reduction in personal income tax as mandated under the Tax Reform for Acceleration...
Revenue collection is on track to hit the government's full-year target this year driven by the Bureau of Customs’ better than expected performance, data from the Bureau of the Treasury showed. Based on the Treasury report on Tuesday, Dec. 27, total revenues reached P3.277 billion from January to...
The Securities and Exchange Commission (SEC) has has filed criminal complaint against Suncash Lending Investors Corp., UCash Lending Investors Corp., Suncredit.ph Finance Corp., and ECredit Finance Inc. for operating unregistered online lending platforms (OLPs). The SEC Enforcement and Investor...
The Department of Finance (DOF) underscored the importance of public access to local government financial data in monitoring and improving the performance of local government units (LGUs). Finance Undersecretary Cielo Magno said timely, pertinent, consistent, and openly accessible data on LGU...
Budget deficit narrowed in November this year despite the government’s double-digit growth in expenditures, the Department of Finance (DOF) announced on Wednesday, Dec. 21. Finance Secretary Benjamin E. Diokno said the national government incurred a P123.9 billion budget deficit last month, down...
The Department of Finance (DOF) said the government remains committed to invest in the digital economy, underscoring the valuable role of technology in finance. In a statement, Finance Secretary Benjamin E. Diokno said the Marcos administration is making foundational investments in the digital...
SB Finance has inked a partnership with KServico, the largest network retailer of consumer durables in Luzon, to offer payment installment options through its Pay Hooloogan service. In a statement, SB Finance President Abbie Casanova said in a statement that Hooloogan offers a credit line of up to...
President Ferdinand "Bongbong" Marcos Jr. has signed an executive order (EO) adjusting the percentage of net earnings to be declared by the Development Bank of the Philippines (DBP). President Ferdinand 'Bongbong' Marcos Jr. (Malacañang Photo) Under the EO signed by the President on Dec. 9, the...
The Department of Finance (DOF) said the government received strong interest among European-based businesses to invest or explore joint ventures in the Philippines. In a statement, Finance Secretary Benjamin E. Diokno said these EU-based companies are engaged in renewable energy generation,...
The Department of Finance (DOF) has requested President Marcos to certify the bill establishing the Maharlika Investment Fund (MIF) as urgent, documents revealed. In a letter dated Dec. 13, 2022 signed by Finance Secretary Benjamin Diokno, the government’s chief economic manager wants to...
Determined to implement the planned sovereign wealth fund, Finance Secretary Benjamin E. Diokno said has identified other sources of financing that will take up the slack following the exit of Government Service Insurance System (GSIS) and Social Security System (SSS) as original funders of the...
