Senate President Pro Tempore Jinggoy Ejercito Estrada on Sunday, August 11 renewed his call for the Chinese government to immediately stop its aggression against the Philippines. Estrada made the appeal after the Armed Forces of the Philippines (AFP) accused China’s air force of...
The proportion of the country's outstanding debt relative to its overall economic output returned to its post-pandemic peak in the second quarter, data from the Bureau of the Treasury revealed. Despite a higher growth rate, the gross domestic product (GDP) failed to keep pace with the government's...
The Department of Finance (DOF) announced that the national government's interest payments are expected to surge by double digits next year due to refinancing of loans obtained during the pandemic. Finance Secretary Ralph G. Recto said on Monday, Aug. 5, that the government expects an 11 percent...
The Marcos administration ramped up its domestic borrowing, causing a substantial increase in the government's overall financing in the first half of the year compared to the previous year. Data released by the Bureau of the Treasury showed that the national government's gross borrowings totaled...
President Marcos has issued Executive Order (EO) No. 64, increasing the government workers' salaries and granting them an additional allowance. Executive Secretary Lucas P. Bersamin, by authority of the President, signed EO 64 on August 2, 2024. It takes effect immediately. “Given the prevailing...
Two senators on Friday, August 2 welcomed the latest tranche of salary increases for government employees. “The prompt action to implement a salary increase for government workers is a commendable demonstration of the government’s commitment to ensuring the welfare of our civil...
The Department of Budget and Management (DBM) announced on Thursday, Aug. 1, that government workers can expect to get the first tranche of their promised wage hike this year. Budget Secretary Amenah Pangandaman (Malacañang photo) In a Palace presser, DBM Secretary Amenah Pangandaman...
The Government Service Insurance System (GSIS) said it has begun identifying and processing claims from government agencies affected by Typhoon Carina. In a statement, Wick Veloso, GSIS president and general manager, said they are contacting all government agencies, local government units (LGUs),...
The Philippines will receive $500 million in foreign military financing from the United States as Washington's help for Manila's efforts to modernize its military and the coast guard. "This level of funding is unprecedented," said US Defense chief Lloyd Austin after the 2+2 Ministerial Dialogue...
Government debt reached P15.48 trillion in June this year due to continued borrowing and the peso's depreciation against the US dollar, data from the Bureau of the Treasury showed. The national government's outstanding debt increased by seven percent in June from P14.52 trillion in the same month...
The P200 billion to be remitted by the national government from government-owned and controlled corporations will fund the salary increases of government employees and infrastructure programs. In his opening speech for the Senate Committee on Health and Demography, Department of Finance (DOF)...
The Philippine government is on track to surpass the P17 trillion debt threshold by the end of next year, data from the Department of Budget and Management (DBM) showed. Based on the Budget of Expenditures and Sources of Financing submitted to Congress, the Marcos administration expects to conclude...
