The Department of Finance (DOF) said the Philippines has secured about $800 million worth of financing from multilateral development banks (MDBS) in December to ensure the government has funds to procure coronavirus booster shots. Finance Undersecretary Bayani H. Agabin said on Friday, Jan. 7, that...
Despite a budget deficit breaching the P1 trillion mark, the national government’s revenue collections remained strong last year, an indication that the country is poised to achieve a robust economic recovery, a ranking finance official said. Finance Undersecretary Gil S. Beltran said there were...
The capitalization of the Real Estate Investment Trusts (REITs) in the Philippines zoomed in less than two-years, placing the country in the middle of the pack among major economies in the South and East Asian regions. In a report to Finance Secretary Carlos G. Dominguez III, the Securities and...
The prolonged pandemic has brought unprecedented economic challenges worldwide. In the Philippines, the COVID-19 crisis has wiped out the country’s gains over the past years as it incurred a staggering P1.4-trillion loan to fight the pandemic. Two years in, the virus remains very unpredictable...
After exiting from the bankruptcy protection (Chapter 11) proceedings, the Department of Finance (DOF) said the government is ready to discuss any financing request coming from flag-carrier Philippine Airlines (PAL). Finance Secretary Carlos G. Dominguez III said on Saturday, Jan. 1, that the DOF...
The Intergovernmental Relations Body (IGRB), which deals with the relations of the Bangsamoro regional government and the Philippine national government, reaffirmed its “strong resolve and commitment” to accomplish its goals of fostering functional and meaningful autonomy and lasting peace in...
The Department of Finance (DOF) has thrown its support behind the lifting of the ban on open-pit mining, saying the decision highlighted the government’s capability to strictly regulate extractive activities in the country. In a statement, Finance Secretary Carlos G. Dominguez III said on...
Collections of locally sourced revenues (LSRs) slightly dipped in the third-quarter, as provinces, cities, and municipalities continue to rely heavily on their respective internal revenue allotment (IRA) shares to fund operations and programs. In a report to Finance Secretary Carlos G. Dominguez...
Senators on Tuesday highlighted the need for finance experts to man the operations of the Philippine Health Insurance Corp. (PhilHealth) as they weigh in on the five-day holiday that a group of private hospitals is planning to implement. “It makes perfect sense for PhilHealth to be headed by one...
The World Bank has remitted to the Bureau of the Treasury the government’s loan for disaster relief and rehabilitation in Typhoon Odette-hit areas, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said on Tuesday, Dec. 28, that the national government received from...
Pilipinas Shell Petroleum Corp. has partially paid its back taxes to the Bureau of Customs (BOC), the Department of Finance (DOF) announced on Tuesday, Dec. 28. Finance Secretary Carlos G. Dominguez III confirmed that BOC has received P1.7 billion from Pilipinas Shell, accounting for around half of...
The Philippines has lifted the nationwide ban on open-pit mining, reversing an order put in place in 2017 by late and former Environment Secretary Regina Paz Lopez to “protect the environment”. OPEN PIT Environment Undersecretary for Enforcement, Mining, and Muslim Affairs Jim Sampulna said...
