The Department of Finance (DOF) has indicated that the Marcos administration may need to adjust its economic growth targets due to the lower-than-expected expansion recorded last year. Finance Secretary Ralph G. Recto emphasized the need for the Development Budget Coordination Committee (DBCC) to...
Finance Secretary Ralph G. Recto is reminding Filipinos to fulfill their tax duties diligently, underscoring their crucial role in the country's development. At the Bureau of Internal Revenue’s (BIR) National Tax Campaign Kick-off event, Recto stressed the importance of both the tax agency and...
With rice prices soaring, the head of President Marcos' economic team said that their main focus is to lower inflation and protect the purchasing power of the Filipino people. Finance Secretary Ralph G. Recto said he was “encouraged by the further drop in the Philippines’ headline inflation to...
A former finance chief said that the Philippines stands alone in the Asian region with Constitutional restrictions on foreign ownership, emphasizing the need to ease these restrictive economic provisions. Former Finance Secretary Margarito B. Teves said the Philippines trails behind its Southeast...
The news of the country's debt nearing P15 trillion is undoubtedly alarming. It raises the question of why the government continues to borrow extensively, despite its significant indebtedness. While many Filipinos tend to avoid borrowing, viewing debt as inherently negative and a sign of poor...
The Marcos administration is seeking financial support from a US foreign aid agency to bolster its efforts to combat corruption and enhance revenue generation, the Department of Finance (DOF) said. Finance Secretary Ralph G. Recto said the Washington-backed Millennium Challenge Corp. (MCC) could...
The Department of Finance (DOF) said the government's lack of a unified approach to digital transformation has slowed down efforts to make business easier, streamline processes, speed up responses, and deliver public services promptly. In a statement on Saturday, Feb. 3, Finance Secretary Ralph G....
A major restructuring at the Department of Finance (DOF) could be in the offing as Malacañang is set to appoint three new undersecretaries and one assistant secretary to the agency. The DOF is expected to undergo significant changes with new Finance Secretary Ralph G. Recto inclined to...
The Department of Finance (DOF) stated that the government is committed to implementing measures to reduce inflation, thereby stimulating private spending to drive growth and increase government revenues. In a statement on Wednesday, Jan. 31, Finance Secretary Ralph G. Recto said the government...
Ayala Land Inc. and its real estate investment trust AREIT Inc., reported of having the largest EDGE (Excellence in Design for Greater Efficiencies) Zero Carbon certified office portfolio in the Philippines after eight of their buildings were certified. In a disclosure to the Philippine Stock...
The Department of Finance (DOF) has committed to partnering with US investors to explore potential investments in critical minerals, semiconductors, and energy security in the Philippines. This commitment has been made following the meeting between Finance Secretary Ralph G. Recto and United States...
Finance Secretary Ralph G. Recto said that interest rates would go down in the second semester of the year. On the sidelines of the annual reception for the banking community late Friday, Jan. 26, Recto stated that he expects a decrease in the cost of borrowing, both domestically and offshore,...
