The Duterte administration closed the books with a lower than expected budget deficit in the first semester, driven mainly by higher revenue collection by the Bureau of the Customs (BOC) from expensive fuel imports. The Bureau of the Treasury reported on Tuesday, July 26, that the national...
Economic managers vowed full support behind the private sector, as the Department of Finance (DOF) asked investors to trust President Ferdinand R. Marcos Jr.’s government. “As the President said yesterday , the sate of the economy is sound. So, my advice to the private sector is trust your...
BIR told to hit collection target By Chino S. Leyco The new administration expects the Bureau of Internal Revenue (BIR), the government’s main tax agency, to attain its collection target this year despite weaker than expected performance in the six-semester. Finance Secretary Benjamin E. Diokno...
Finance Secretary Benjamin E. Diokno has called for "heightened attention" to the current geopolitical events and post pandemic changes in the international financial system. The chief economic manager manager of President Ferdinand Marcos Jr.'s administration made this call even as he expressed...
The Senate Committee on Finance is ready to tackle the proposals seeking to rightsize the bureaucracy that would be filed in the Upper Chamber, Senator Sonny Angara said on Tuesday, July 19. Angara, who chairs the finance panel, said it is about time for the government to rightsize the bureaucracy...
The Department of Finance (DOF) has ordered the Securities and Exchange Commission (SEC) to continue its digitalization initiatives in expanding the country’s capital market and to support economic growth. Finance Secretary Benjamin E. Diokno, said on Tuesday, July 19, that his marching order to...
The Marcos administration will continue pursuing a whole-of-nation approach in mitigating climate risks, committing the Philippines to be at the forefront of global climate action, the Department of Finance (DOF) said. At a recent G20 high-level breakfast discussion on climate change mitigation,...
The Bangko Sentral ng Pilipinas (BSP) has authorized the government to borrow $3.54 billion from foreign creditors in the second quarter of this year. The new approved public sector foreign borrowing is 26 percent higher than the $2.80 billion borrowing in the second quarter last year. But it is 26...
Beijing-led Export-Import Bank of China (CEXIM) indicated higher returns to bankroll the Duterte administration’s three big-ticket railways projects, former Finance Secretary Carlos G. Dominguez III said. Dominguez, who served as former President Duterte’s chief economic manager, explained that...
The Department of Finance (DOF) assured that the Philippines is fully prepared to address challenges posed by financial stability risks and inflationary pressures that threaten the economic recovery. Finance Secretary Benjamin E. Diokno said on Friday, July 15, that the country has comprehensive...
The Department of Finance (DOF) would not throw in the towel yet on hope that Beijing could still fund the three big-ticket railway projects that were initiated by the Duterte administration. Amid reports that the Chinese loan applications for the Bicol, Subic-Clark, and Mindanao railway projects...
BALI, Indonesia - Group of 20 finance ministers and central bank chiefs from top economies met in Indonesia Friday for talks on the fallout from Russia's invasion of Ukraine, with the host warning them failure to tackle energy and food crises would be catastrophic. IndonesiaÂ’s Finance Minister...
