Investors pressed for an increase in Philippine benchmark interest rates for short-term loans following the rise in inflation rate and hawkish signals from monetary officials. At the Treasury bureau’s auction on Monday, April 8, the national government successfully raised P15 billion through the...
The amount of subsidy the Marcos administration extended to government-owned and controlled corporations (GOCCs) was raised to 35 percent in February, as the bulk of it went to the National Irrigation Administration (NIA). Based on the Bureau of the Treasury data, financial support extended to...
President Marcos has appointed a new secretary of the National Commission on Muslim Filipinos (NCMF). President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of Malacañang) Malacañang announced that Marcos designated Sabuddin Abdurahim as the new NCMF chief, replacing Guiling Mamondiong....
The national government's debt surpassed the P15-trillion mark in February. According to the Bureau of the Treasury's report on Wednesday, April 3, government debt load soared by P388 billion in February alone on the back of borrowing spree from domestic lenders. The borrowing during the month...
The Marcos administration’s budget deficit expanded by half in February due to higher public spending and the slower growth in non-tax revenues, data from the Bureau of the Treasury showed. The national government's fiscal gap amounted to P164.7 billion last month, up 55 percent compared to the...
The Bureau of the Treasury reported that the national government has spent over three times on debt payments in the first month of the year due to significant amortization obligations. In January 2024, the government's debt servicing expenses totaled P158.9 billion, a substantial 232 percent...
The Government Service Insurance System (GSIS) has improved its financial benefits for its members and pensioners, propelled by robust financial growth last year. Wick Veloso, GSIS president and general manager, said the pension fund is giving back the financial success to its members and...
The Marcos administration intends to secure funding exceeding half a trillion pesos from the local market in second quarter to cover the government's budget shortfall. Based on the Bureau of the Treasury's borrowing plan, a total of P585 billion is projected to be sourced from the issuance of both...
Work in government offices on Wednesday, March 27, from 12 noon onwards was suspended to give employees an opportunity to "properly observe" the Holy Week. President Marcos ordered this through Memorandum Circular No. 45 signed on his behalf by Executive Secretary Lucas Bersamin on Monday, March...
The Bureau of the Treasury was successful in selling all its short-term debt papers, taking advantage of declining interest rates. During an auction on Monday, March 25, the national government raised P15 billion as planned via the treasury bills (T-bills) it auctioned off as total bids reached...
The national government’s net financing dropped by 67 percent in January this year, data from the Bureau of the Treasury (BTr) showed. BTr's latest cash operations report showed that total borrowings in the first month of the year amounted to P118.4 billion, down from the P366 billion recorded in...
Tingog Party-list Rep. Jude Acidre (PPAB) Deputy Majority Leader and Tingog Party-list Rep. Jude Acidre couldn’t help but feel disappointed after the Senate failed to pass the proposed Government Procurement Reform Act (GPRA) on second reading...
