The Department of Finance (DOF) announced that government revenues have already achieved half of the target for the year in the first semester, indicating a promising outlook for meeting the full-year goal. Finance Secretary Ralph G. Recto said that a total of P2.13 trillion in revenues was...
After six months in office, President Marcos' chief economic manager continued to assert that there was no need for new tax proposals to enhance the government's revenue collection. Finance Secretary Ralph G. Recto reiterated his stance at a forum with business journalists on Monday, July 8,...
The Department of Finance (DOF) has forecasted a potential P5 per kilogram decrease in the average price of rice by August, attributing this drop to reduced import tariffs. Finance Secretary Ralph G. Recto said on Monday, July 8, that by lowering the tariff on imported rice from 35 percent to...
Finance Secretary Ralph G. Recto said that inflation may have already reached its highest point, projecting a gradual decline in the rate of food price increases in the coming months. Recto stated that the continued moderation in inflation may lead the Bangko Sentral ng Pilipinas (BSP) to consider...
Finance Secretary Ralph G. Recto said that inflation is expected to remain within the target band of two percent to four percent this year following its contraction in June. Recto said that implementing whole-of-government interventions, such as cash grants and tariff rate cuts, will ensure that...
Climate Reality Project branches from across the globe joined forces in Singapore for a four-day workshop on climate finance tracking and campaigning. The goal? To ensure developing countries receive the resources they desperately need to combat climate change. Organized by The Climate...
Albay 2nd district Rep. Joey Salceda (Ellson Quismorio/ MANILA BULLETIN) Economist solon Albay 2nd district Rep. Joey Salceda says there's "simple" logic behind the Department of Finance's (DOF) intention to use excess funds of the Philippine...
The Institute of International Finance (IIF) reported the Philippines as a leader in investor relations (IR) practices among emerging markets and developing countries. In the latest 2024 IIF Investor Relations and Debt Transparency Report, the Philippines received a score of 48.8 out of 50,...
Filipinos needing government financial assistance may soon be required to possess a national ID to be eligible for and receive aid. In a joint meeting last Friday, June 28, the Economic Development Group (EDG) and the Inter-Agency Committee on Inflation and Market Outlook (IAC-IMO) disclosed...
The Department of Finance (DOF) reported an increase in the national government's budget deficit in May as government spending was much higher compared to the revenue collections. During the month, the Marcos administration’s fiscal deficit amounted to P174.9 billion, representing a substantial...
The Department of Finance (DOF) said that Sumitomo Mitsui Banking Corp. (SMBC) may collaborate with the Marcos administration on its borrowing activities. In a recent Facebook post, the DOF disclosed that Finance Secretary Ralph G. Recto met with SMBC and SMBC Nikko senior executives to explore...
The International Finance Corp. (IFC) has invested $100 million (over P5.8 billion) in City Savings Bank Inc.'s (CitySavings) maiden social bond issuance aimed at bankrolling more consumer loans to women and marginalized sectors in the Philippines. The World Bank Group's private sector arm...
