Despite difficulties in raising revenues amid the pandemic, the national government opted to increase the amount of subsidy it extended to state-owned corporations due to mounting health insurance claims. Data from the Bureau of the Treasury revealed that the financial support extended to...
Increases in public spending last month forced the national government to raise its budget deficit in the first eight-months of the year near the trillion peso mark. Bureau of the Treasury office The Bureau of the Treasury reported on Thursday, Sept. 23, that the Duterte administration’s fiscal...
Finance Secretary Carlos G. Dominguez III urged small investors to invest in the government’s maiden onshore retail dollar bond (RDBs) offering, saying it is a “win-win proposition” that will promote financial inclusion while raising funds for the country’s coronavirus response. Finance...
The Bureau of the Treasury has launched the government’s first onshore issue of dollar bonds catering to small investors who are looking for a low-risk, accessible and higher-yielding investment. At the price-setting auction on Wednesday, Sept. 15, the Bureau of Treasury raised an initial $866.2...
Government loans from local and foreign banks increased by more than double in July this year. Data from the Bureau of the Treasury showed that the Duterte administration’s gross borrowings jumped 150 percent last July to P337.36 billion from P134.53 billion in the same month last year. According...
Government debt snowballed to a record high of P11.61 trillion as of July this year. Peso bills Based on the Bureau of the Treasury’s report on Tuesday, Aug. 31, the public debt increased 26.7 percent from P9.164 trillion in the same month last year, or an addition of P2.446 trillion in the past...
Unused funds under the Philippine International Trading Corporation (PITC) and the controversial procurement service of the Department of Budget and Management (PS-DBM) should be returned to the national coffers, Senate Minority Leader Franklin Drilon said on Thursday, Aug. 26. In particular,...
The national government’s budget deficit narrowed in July this year due to slower public spending and higher revenue haul, the Bureau of the Treasury reported. The Duterte administration trimmed the government’s fiscal gap last month by 13.6 percent to P121.2 billion from P140.2 billion in July...
The controversial Procurement Service (PS) under the Department of Budget and Management has kept over P10.8 billion in transferred funds for years without returning the money to the Bureau of Treasury. COA logo & HQ The Commission on Audit disclosed in the 2020 annual audit report (AAR) for...
As the national government is being criticized for alleged slow distribution of cash assistance (ayuda), an official of the Department of the Interior and Local Government (DILG) said it was because of the strict protocols that have to be observed. In an Interview over GMA News, DILG Undersecretary...
The Bureau of the Treasury will team up with the country’s leading banks to let small investors buy at easy terms retail dollar bonds (RDBs) that the government is planning to issue this year to fulfill part of its domestic financing requirements. National Treasurer Rosalia de Leon said several...
Government debt inched up anew in June this year due to higher borrowings from foreign creditors. Data from the Bureau of the Treasury showed that the national government’s outstanding debt stock stood at P11.166 trillion as of June, up by P94.9 billion from P11.071 trillion in the previous...
