The ratio between the country’s economic output and the budget deficit incurred by the national government widened in the first nine-months of the year, the Department of Finance (DOF) said. Data from the DOF showed Monday, Nov. 15, that the Duterte administration’s fiscal gap inched up to 8.3...
The Department of Finance (DOF) has warned that the proposed suspension of the excise taxes on fuel will be inequitable and lead to significant revenue losses, thus threatening the country’s recovery and growth prospects. Amid calls for the government to address the recent spiral in fuel prices,...
Senate Finance Committee chief Senator Sonny Angara on Friday said it is still too early to say whether or not the National Task Force to End Local Communist Armed Conflict (NTF-ELCAC) should be abolished. “I think it’s way too early to make that judgment for the NTF-ELCAC. (It) only started to...
A new private sector-led global organization is exploring a possible country partnership with the Philippines to assist in hastening its transition to green and renewable energy (RE) sources, the Department of Finance (DOF) said. In a statement, the DOF said on Friday, Nov. 12, that Finance...
Senate Minority Leader Franklin Drilon on Friday urged newly-appointed Philippine National Police (PNP) chief Lt. Gen. Dionardo Carlos to review the PNP’s use of its anti-insurgency funds. Drilon challenged the incoming PNP leadership as he finds it suspicious that the PNP conducted about 13...
The Philippines has formally committed to reverse forest loss and land degradation by 2030, the Department of Finance (DOF) announced on Thursday, Nov. 11. In a statement, the DOF said the Department of Foreign Affairs (DFA) recently transmitted President Duterte’s letter to the government of the...
The House Committee on Ways and Means approved Thursday, Nov. 11 the proposal to reduce or suspend excise taxes on petroleum products but not on premium gasoline with highest octane mix. Gasoline up The House panel chaired by Albay 2nd District Rep. Joey Sarte Salceda approved a substitute bill...
The International Finance Corp. (IFC) is investing in a social bond to be issued by Ayala Corp.’s foreign subsidiary that will fund the development of an integrated health ecosystem in the country. The IFC, a member of the World Bank Group, said on Thursday, Nov. 11, that it invests $100 million...
The Philippines has called for an end to the debate on climate change, and for nations to start implementing concrete actions to fulfill their respective commitments and “obligations to humanity” to save the planet from an environmental catastrophe. “The Philippines is determined to be a...
Senate Minority Leader Franklin Drilon on Wednesday, Nov. 10 proposed incentivizing the opening of face-to-face classes by giving state universities and colleges (SUCs) and public schools access to the P3.5-billion fund allocated for the retrofitting of education institutions under the proposed...
The Senate Finance Committee, chaired by Senator Sonny Angara, has endorsed for plenary approval Committee Report No. 332 which contains the P5.024-trillion national budget for 2022. This marks the start of lengthy plenary deliberations on the budgets of various government agencies and their...
The next Department of Finance (DOF) head needs to keep a close eye on four pressing issues, such as public debt, inflation, exacerbated inequality and climate change, President Duterte’s chief economic manager said. Eight months before the term of the Duterte administration ends, Finance...
