The Department of Finance (DOF) has projected that the average yearly income of Filipinos is on track to almost double in the next six years to around P378,000, propelled by the expanding middle class. Currently, Finance Secretary Ralph G. Recto revealed that the average income per person in the...
Finance Secretary Ralph G. Recto lauded the recent issuance of an order aimed at enhancing the monitoring of imported goods entering the country through digital pre-border verification and electronic invoicing. As the chair of the committee overseeing the implementation of President Marcos’...
In response to the shifting consumer preferences towards e-commerce, the Department of Finance (DOF) wants to bring the country's tax collection system in line with the best practices of three leading Asian nations. Finance Secretary Ralph G. Recto said the Bureau of Internal Revenue (BIR) and the...
BAGUIO CITY —The economic growth, as measured by the gross domestic product (GDP), should grow by 6.1 percent for the next three quarters to achieve the lower end of the target, a chief economist said. Department of Finance Undersecretary Domini S. Velasquez said that the positive outlook...
The Department of Finance (DOF) announced the full allocation of a P1-billion budget to support key climate adaptation projects across the country. During the 21st People's Survival Fund (PSF) Board Meeting last May 10, Finance Secretary Ralph G. Recto signed five financing agreements for local...
The Department of Finance (DOF) said the Philippines has secured a $10 million grant from the Green Climate Fund (GCF) to enhance resilience and sustainable development. The DOF said the grant is a crucial step in bolstering the country's readiness to address climate hazards and accelerate...
The Bureau of Internal Revenue (BIR) has acknowledged the Department of Finance's (DOF) role in achieving higher tax collections and executing successful enforcement operations. In a Facebook post, BIR Commissioner Romeo “Jun” Lumagui Jr. expressed his appreciation for the unwavering guidance...
The Social Security System and Government Service Insurance System could buy the shares of Subic-Clark-Tarlac Expressway to benefit their pension funds, according to Finance Secretary Ralph G. Recto. Recto told reporters on Tuesday that the government has plans for the SCTEX including selling some...
The Department of Finance (DOF) will review the proposed amendment to the Rice Tariffication Law (RTL) to ensure that the debts from the National Food Authority (NFA) do not inflate. Finance Secretary Ralph G. Recto said that the law is working, however, he noted that some tweaks should be done to...
Finance Secretary Ralph G. Recto said that the national government will expand the authorized capital stock of the Land Bank of the Philippines (Landbank) to P1 trillion. Recto told reporters that the amendments to the charters of the two major state-run banks Landbank and the Development Bank of...
Despite the slowdown, President Marcos' three economic managers emphasized that the Philippines has maintained its position as one of the fastest-growing economies in the region. Budget Secretary Amenah F. Pangandaman, Finance Secretary Ralph G. Recto, and National Economic and Development...
Promoting coastal resilience and biodiversity restoration, employees and management of Digido Finance Corp. (DFC), operator of multi-awarded fintech platforms Digido and UnaCash, planted 1,161 mangroves during its latest environmental, social, and governance (ESG) activity in Bataan. ...
