Despite the multi-trillion peso borrowings amid the prolonged-pandemic, the Philippine government’s risk of falling into a debt crisis remains low, the ASEAN+3 Macroeconomic Research Office (AMRO) said. According to the regional think tank, the likelihood of the government falling into debt...
A zero interest rate on salary loans for government employees makes sense for Misamis Occidental 2nd district Rep. Ando Oaminal. (Mari Gimenez/ Unsplash) For this purpose, the Mindanao lawmaker filed House Bill (HB) 2199, which, if enacted, would institutionalize such provision for workers of the...
Senator Robinhood "Robin" C. Padilla has filed a bill providing for the equal use of Filipino and English languages in such documents to make sure ordinary Filipinos understand the contents of all government issuances. In Senate Bill 228, Padilla lamented that while Section 6, Article. XIV of the...
Senator Francis “Chiz” Escudero has filed a bill that seeks to double the amount being received by some 1.8 million government employees as Personnel Economic Relief Allowance (PERA) to help them cope with the higher prices brought about by the Covid-19 pandemic and oil price hikes. In filing...
The trustees of the Government Service Insurance System (GSIS) have elected veteran banker Jose Arnulfo “Wick” Veloso as president and general manager of the state-owned pension fund. Veloso, who was chosen by President Marcos to head the country's pension fund service for state workers, said...
Senator Christopher “Bong” Go has expressed his support for efforts of the government to streamline the bureaucracy by rightsizing to ensure a more efficient, responsive and reliable government. Nonetheless, Go said it is imperative for the state to ensure the welfare of government workers who...
Lingering concerns over higher inflation and aggressive tightening by the Bangko Sentral ng Pilipinas (BSP) failed to push up the interest rate for long-term government debt papers. At the Bureau of the Treasury auction on Tuesday, July 19, the yield for the reissued 10-year Treasury bond, with a...
Philippine benchmark interest rates for short-term loans jacked up following the Bangko Sentral ng Pilipinas’ (BSP) surprise off-cycle move last week, along with expectations that the central bank could deliver more aggressive tightening. At Monday's auction...
Senator Ramon "Bong" Revilla Jr. on Sunday said that he supports the Department of Budget and Management’s (DBM) government rightsizing proposal, but not at the expense of government employees and contractual workers who may face unemployment, retrenchment, and displacement. If the proposed...
Senator Christopher “Bong” Go on Thursday said the government should make sure that government workers who may be affected by the Department of Budget and Management’s (DBM) plan to rightsize the bureaucracy are fully compensated and given livelihood opportunities. Senator Christopher "Bong"...
The national government borrowed lower than programmed after Philippine benchmark interest rates for short-term loans rose on looming aggressive tightening. At Monday's auction of Treasury bills on July 11, the government sold only P13.16 billion worth of short-term IOUs, below the P15 billion...
Senator Manuel “Lito” Lapid has filed a measure seeking to mandate government offices to adopt digital systems to expedite transactions and enable them to pay and receive digital currency. The proposed “Use of Digital Payments Act” is part of the initial bills filed by the senator in the...
