The Government Service Insurance System (GSIS) has urged its members to take advantage of its improved lending program designed for state workers. In a statement, GSIS President and General Manager Wick Veloso said over 258,000 government employees and Department of Education (DepEd) teachers have...
As the year drew to a close, the Marcos administration had ramped up the government's borrowing, particularly in the domestic market, data from the Bureau of the Treasury showed. The national government’s gross borrowings surged by 28 percent to P125.5 billion in November last year from P97.9...
Government subsidies to state-owned companies increased in November, with the majority of the funds being allocated to the National Irrigation Administration (NIA) and the National Food Authority (NFA). Data from the Bureau of the Treasury showed that government-owned and -controlled corporations...
Senator Sherwin Gatchalian on Friday, December 29 defended the Marcos administration’s spending for foreign and local trips next year and urged government agencies to follow through on investment pledges that would be made during these official visits. “The President is the most potent...
The Bureau of the Treasury reported that the national government's budget deficit declined in November largely due to decreased public spending. The Marcos administration’s fiscal gap amounted to P93.3 billion last month, a 25 percent reduction from the P123.9 billion recorded in the same...
The proposed new procurement bill will provide an online site that will expedite the purchasing of goods and services in the government, the Department of Budget and Management (DBM) said. Budget Secretary Amenah F. Pangandaman said in a statement that the proposed Government Procurement Reform Act...
The Department of Finance (DOF) assured that it will continue with its efforts to help local government units (LGUs) in fully taking over government functions and services. In a statement, the DOF said there will be a study on operationalizing full devolution, which will help delineate the...
The Bureau of the Treasury reported that state-run companies' financial independence strengthened in October this year, as the national government's subsidy to these corporations decreased. Based on the Treasury bureau’s report, the total subsidies granted to government owned and controlled...
President Marcos has ordered government agencies to determine the priority core functions and services that must be devolved to the local government units (LGUs) by the end of February next year. President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of Malacañang) Malacañang said on Monday,...
Dividends remitted by 49 government-owned or controlled corporations (GOCCs) reached P99.2 billion this year, surpassing its target and the actual collection from last year, data from the Department of Finance (DOF) showed. This figure is 30 times bigger than the P69.12 billion of cash dividends...
The Bureau of the Treasury announced that the national government is set to borrow P585 billion from the domestic market in the first three months of next year to cover its budget shortfall. Based on the Treasury’s quarterly local borrowing plan, the Marcos administration plans to issue P195...
The proposed new Government Procurement Reform Act (GPRA) will allow bidders to submit only the certificate of registration and membership, which will smoothen the procurement process and ensure its legality, the Department of Budget and Management (DBM) said. In a statement, Budget Secretary...
