The Department of Finance (DOF) reported an increase in the national government's budget deficit in August due to higher expenditures and a decline in revenue collections. During the month, the Marcos administration’s fiscal deficit amounted to P133 billion, a substantial 85 percent surge...
The Department of Finance (DOF) expressed its support for the inclusion of two proposed measures aimed at imposing taxes on single-use plastics and rationalizing the mining fiscal regime. Finance Secretary Benjamin E. Diokno said the DOF endorses the recent advancements made by the...
The Department of Finance (DOF) called on thrift banks to ramp up their digital transformation initiatives. Finance Secretary Benjamin E. Diokno said the administration recognizes the role digital technologies play in unlocking economic potential, productivity, and competitiveness in the 21st...
The Department of Finance (DOF) has welcomed the recent progress in consolidating legal frameworks for public-private partnership (PPP) projects. In a statement, Finance Secretary Benjamin E. Diokno said the enactment of Senate Bill No. 2233, also known as the PPP Act, would facilitate trade,...
A Senate subcommittee has endorsed for plenary approval the proposed 2024 budget of the Office of the Presidential Adviser on the Peace, Reconciliation, and Unity (OPAPRU) which includes a P5.3 billion increase for the implementation of the PAyapa at MAsaganang PamayaNAn (PAMANA) program. Sen....
The Department of Social Welfare and Development (DSWD) is now investigating reports of a religious cult supposedly collecting the cash grant of its members who are part of the Pantawid Pamilyang Pilipino Program (4Ps). Secretary Rex Gatchalian defends the proposed P207.37-billion...
A Senate committee has approved on Wednesday, Sept. 20, the proposed budget for 2024 of the Philippine Drug Enforcement Agency (PDEA) and the Dangerous Drugs Board (DDB). Sen. Ronald "Bato" Dela Rosa (Senate PRIB photo) The upper chamber’s subcommittee on finance, chaired by Sen....
The Department of Finance (DOF) has highlighted the significant contribution of real estate investment trusts (REITs) to the country's economic recovery and infrastructure modernization. Finance Secretary Benjamin E. Diokno said that REIT investments are playing a vital role in fueling property...
A Senate finance subcommittee has approved the P976 million budget of the Commission on Human Rights (CHR) and its attached agencies. Sen. Jinggoy Ejercito Estrada presides over the Finance Subcommittee O hearing to deliberate on the proposed budget of the Commission on Human Rights (CHR) and...
The Department of Finance (DOF) slammed the proposed removal of fuel taxes, labeling it as an ill-advised and populist measure that would disproportionately burden the poor. Finance Secretary Benjamin E. Diokno cautioned against the politicians' popular yet detrimental plan to remove value-added...
The Senate subcommittee on finance has approved the proposed budget of the Department of Migrant Workers (DMW) for 2024. The DMW has proposed a P15.542-billion appropriation for next year. Of the amount, P11.9-billion would be allocated to the Overseas Workers Welfare Administration...
Senate Minority Leader Aquilino “Koko” Pimentel III warned against the possible abuse regarding the issuance of the Presidential Certification of Necessity and Urgency stating that under the Constitution there's a requirement for it. Senate PRIB photo Pimentel pointed this out during...
