The Bureau of Internal Revenue (BIR) will now require government contractors to secure an updated tax clearance before the final settlement of a government contract to ensure they have no outstanding tax liabilities. In a statement, BIR Commissioner Romeo D. Lumagui Jr. said this new policy,...
Peso depreciation against the US dollar, alongside net financing activities, further pushed the national government’s debt, which had recently breached the P16-trillion mark. Data from the Bureau of the Treasury (BTr), revealed that the government’s total outstanding debt stood at...
Expectations of further policy easing by the Bangko Sentral ng Pilipinas (BSP) took center stage in the first Bureau of the Treasury auction of the year, as investors snapped up government debt and pushed yields lower across the board. At Monday's auction, January 6, the Treasury bureau...
Despite a year-long trend of declining government support, state-owned corporations, particularly major non-financial institutions, received a substantial boost in subsidies in November last year Data from the Bureau of the Treasury (BTr) showed that state subsidies to government-owned and...
State-run Government Service Insurance System (GSIS) has allocated nearly P8.6 billion in emergency loans to assist 363,547 active members and old-age and disability pensioners affected by recent typhoons. In a statement, GSIS said the emergency loan program is open to active members and pensioners...
The national government substantially reduced its reliance on borrowing in November, cutting its total by nearly half compared to the same period last year, due to lower domestic borrowing. Based on the latest Bureau of the Treasury report, total gross borrowings in November 2024 plunged 48 percent...
“Stronger and closer ties” with the Philippines—that’s what the United States Embassy in Manila is looking forward to in 2025 as it gave a glimpse of the events that shaped the two countries’ relations this year. (US Embassy in the Philippines/MB file photo) “And...
The embassy of Japan in the Philippines has opened its application for the Japanese Studies and Teacher Training categories of the 2025 Japanese Government (Monbukagakusho) scholarship. Through the Japanese embassy in Manila , the Japanese government announced the opening of the scholarship...
More than three decades after the country embarked on a devolution agenda, a new Philippine Institute for Development Studies (PIDS) study raised critical issues in local government spending, particularly in light of the 2019 Mandanas ruling. According to PIDS, the Madanas ruling, which...
The bill mandating local government units (LGUs) to deliver donated relief goods to inaccessible disaster-stricken communities has been passed by the House of Representatives. House Bill (HB) No. 10924, or the “Free Transportation of Relief Goods Act,” was was passed by a 182-0 vote....
Alexis Kohler, Secretary-General of the Elysee Palace, announces the names of the ministers of the new cabinet, in the Elysee Palace, Monday, Dec 23, 2024 in Paris. French President Emmanuel Macron's office announced a new government, after the previous Cabinet collapsed in a historic vote prompted...
The national government has nearly tripled its planned borrowings for the first quarter of 2025 as it seeks to secure funding ahead of the 2025 midterm elections and mitigate risks from rising borrowing costs and market volatility. In a memorandum released on Monday, Dec. 23, the Bureau of the...
