Dividends remitted by government-owned or controlled corporations (GOCCs) surpassed its pre-pandemic collection last year, driven by the fiscal discipline imposed on state-run firms, the Department of Finance (DOF) said. Data from the DOF’s Corporate Affairs Group (CAG) showed on Monday, March...
The government’s chief economic manager vowed to “redouble” their efforts in the final months of the Duterte administration to recover lost opportunities incurred by the economy during the prolonged pandemic. Finance Secretary Carlos G. Dominguez III said that their goal in the final quarter...
The next administration would need to continue the ongoing infrastructure projects of the current government to support foreign direct investment (FDI) inflows, the Department of Finance (DOF) said. Finance Chief Economist Gil S. Beltran said on Friday, March 25, that the ongoing infrastructure...
The Bureau of Customs’ modernization program has automated and streamlined most of its processes and procedures in the last five-years, resulting in above-target collections despite the pandemic, the Department of Finance (DOF) reported. In a report to Finance Secretary Carlos G. Dominguez III...
A shift from a pandemic to an endemic mindset will help mitigate the impact of external shocks, such as the Russia-Ukraine crisis, as well as minimize the long-term scarring effects of Covid-19, three of the government’s economic managers said. In a joint statement on Thursday, March 24, Finance...
Dividends remitted by the Philippines Ports Authority (PPA) to the government coffers under President Duterte’s watch exceeded the sum it had contributed in more than two decades, the Department of Finance (DOF) said. In a statement, Finance Secretary Carlos G. Dominguez III on Wednesday, March...
The International Finance Corp. (IFC) has agreed to help Quezon City in improving the local government’s pandemic response efforts. In a statement, IFC said on Wednesday, March 23, that it will provide advisory services to the Philippines’ biggest city to “future proof” its vaccination...
The Department of Finance (DOF) said Information Technology Business Process Management (IT-BPM) companies registered with investment promotion agencies (IPAs) such as the Philippine Economic Zone Authority (PEZA) can choose to continue work from home (WFH) arrangements but give up their tax...
The Department of Finance (DOF) has proposed the creation of a risk management office (RMO) that will identify and evaluate contingent liabilities and other risks assumed by the government in relation to public private partnership (PPP) projects. In a statement, Grace Karen G. Singson said on...
The Duterte administration has “successfully” completed its three-tranche foreign commercial borrowing on the back of volatile financial markets overseas, the Bureau of the Treasury announced. The Treasury bureau said Tuesday, March 22, that the government raised $2.25 billion, or roughly P118...
President Duterte said he already ordered the Department of Finance (DOF) to increase the amount of monthly subsidy for poor families from P200 to P500 per household in lieu of suspending excise tax amid rising oil prices. President Rodrigo Duterte (Malacañang photo) During his speech in...
Consumer should brace themselves for further acceleration in prices as the Philippines continues to face inflationary pressures from both food and non-food items, the Department of Finance (DOF) said. Finance Chief Economist Gil S. Beltran said effects of the African swine fever (ASF) continues to...
