The Bureau of the Treasury said the Marcos administration has recorded a slight decrease in its foreign and local borrowings in the first nine months of the year. From January to September 2023, gross financing totaled P1.782 trillion, a two percent drop compared to the same period last year when...
The government’s economic team is looking to collect P3.84 trillion to P3.90 trillion in total revenues this year, above the target of P3.73 trillion. In a joint statement, the Development Budget Coordination Committee (DBCC) said that P2.84 trillion in revenues have been collected in the first...
The Development Budget Coordination Committee (DBCC) expects that the national government's budget deficit would widen in the latter part of the year, driven by catch-up spending. In the DBCC mid-year report, the inter-agency body responsible for determining the government's macroeconomic...
The national government's debt stock had decreased in September compared to the previous month due to repayments made to both local and foreign creditors, the Bureau of the Treasury reported on Tuesday, Oct. 31. The government's outstanding debt as of September stood at P14.269 trillion, a decline...
State-run National Housing Authority (NHA) received the largest subsidy support from the national government in September this year to aid its goal of ensuring the country’s housing programs, data from the Bureau of the Treasury showed. The national government gave away P21.26 billion in...
President Marcos is looking at prioritizing the purchase of locally-manufactured building materials for future infrastructure projects. President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of Malacañang) Marcos welcomed the idea pitched by the Private Sector Advisory Council (PSAC)...
The new law on the automatic income classification of local government units (LGUs) will help ensure the fiscal sustainability and revenues of local governments, the Department of Finance (DOF) said. Republic Act No. 11964 or the Automatic Income Classification of Local Government Units Act updates...
The various measures pending in the Senate that seek to review Republic Act 9184 or the Government Procurement Reform Act (GPRA) are all aimed at building on the laws strengths and addressing the weaknesses in the landmark law, Sen. Juan Edgardo “Sonny” Angara said on Sunday, October 29. ...
A United Nations (UN) body has commended the Philippines for recently organizing a forum with the UN, saying it was a clear signal that the Philippines recognizes the sustainable development goals (SGDs) it had set. Malacañang photo UN Governance and Public Administration Expert Ana Thorlund...
President Ferdinand Marcos has urged local government units (LGUs) to explore international partnerships and learn from the best practices of foreign partners to improve the delivery of public service. President Ferdinand ‘Bongbong’ Marcos Jr. (RTVM screenshot) Marcos addressed the Philippine...
The newly-signed law that institutionalizes the automatic income classification of local government units (LGUs) will help boost the economic growth and local autonomy of LGUs and ease the national government’s distribution of financial grants to them, Senator Joseph Victor “JV” Ejercito...
President Marcos has signed into law the measure which institutionalizes the automatic income classification of local government units (LGUs) to promote local autonomy and enable LGUs to realize their full economic potential. File photos Marcos signed Republic Act (RA) No. 11964, also known as the...
