The Department of Finance (DOF) said on Monday, Nov. 13, that the revisions introduced to the implementing rules and regulations (IRR) for the Maharlika Investment Fund (MIF) act are within the bounds of the law. In a statement, the DOF affirmed the legality of the newly revised IRR for the...
More government spending seen in the third quarter will help pick up the six percent to seven target economic growth by year-end, Department of Finance Secretary Benjamin E. Diokno said. During a forum with Reuters, Diokno pointed out several indicators that will help boost economic growth by...
Finance Secretary Benjamin E. Diokno, the government’s chief economic manager, expects the Philippine economy to grow by close to six percent this year. The Philippine Statistics Authority reported on Thursday a better-than-expected gross domestic product (GDP) growth of 5.9 percent in the third...
The Department of Finance (DOF) has reported that the country's debt and fiscal indicators improved in the third quarter owing to the robust economic performance. As of September 2023, the government's debt-to-gross domestic product (GDP) ratio, a measure of the country's debt relative to its...
The pre-need industry’s net income surged to P11.21 billion in the first half of the year amid an increase in the number of memorial plans sold, the Insurance Commission (IC) said. According to IC data, this was a 9.45 percent increase collected from January to June last year. The commission said...
The Senate Committee on Finance should consider banning the use of contingency funds to increase the confidential and intelligence funds (CIF) of civilian agencies under the proposed national budget for 2024. Sen. Risa Hontiveros suggested this to Sen. Juan Edgardo “Sonny” Angara...
Senate Committee on Finance chief Senator Juan Edgardo “Sonny” Angara on Wednesday, November 8 disclosed that the government has yet to spend around P1.27-trillion or 24 percent of the P5.268-trillion national budget for 2023. Sen. Juan Edgardo "Sonny" Angara, chairperson of the Committee...
The Department of Finance (DOF) said the job quality for Filipinos is steadily improving, with the country's underemployment rate dropping below its pre-pandemic level. In a statement, Finance Secretary Benjamin E. Diokno said the underemployment rate of 10.7 percent recorded in September was the...
Finance Secretary Benjamin E. Diokno has ramped up the anti-graft efforts of the Department of Finance through the strengthened operations of the Revenue Integrity Protection Service (RIPS). “Prudent fiscal management must be underpinned by transparency and accountability. As custodians of public...
President Marcos' chief economic manager said the government's swift and resolute actions to combat inflation were responsible for the considerable decrease in consumer prices recorded in October. In a statement, Finance Secretary Benjamin E. Diokno lauded the 4.9 percent headline inflation...
Finance Secretary Benjamin E. Diokno is urging the National Power Corp. (NPC) to improve access to electricity in remote communities. During the NPC's 87th Anniversary, Diokno reminded the company of its mission to provide electricity to remote areas and islands in the Philippines and assured them...
The Department of Finance (DOF) said the government is looking to secure funding for P83 billion Mindanao Railway project in the first quarter next year. This came after the country backed out from a financing deal with China to fund the railway project. Further, Finance Secretary Benjamin E....
