Makati City Mayor Nancy Binay has signed the city 's budget for next year worth P21 billion, reinforcing the city’s commitment to delivering efficient, people-centered, and future-ready programs for all residents. Several local government officials were also present during the event...
The Makati City local government was recognized by the Department of Finance 's (DOF) Bureau of Local Government Finance (BLGF) on Wednesday, Nov. 5, as one of the top-performing cities in the country for Finance Year 2024. Makati Mayor Nancy Binay said the city was ranked among the Top 10...
The Department of Finance – Bureau of Local Government Finance (DOF-BLGF) recognized the San Juan City government for its outstanding performance for Fiscal Year (FY) 2024, San Juan City Mayor Francis Zamora announced on Sunday, Oct. 26. Zamora said the city was cited as one of the...
The University of the Philippines (UP) has expressed strong support for transparency and accountability in government infrastructure projects following recent reports of widespread corruption in the country’s flood control initiatives. In a statement, UP President Angelo Jimenez said the...
Senator Joseph Victor “JV” Ejercito has lauded the signing into law of Republic Act No. 12253 or the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act saying this will help generate income for the government but at the same time preserve and protect the country’s environment. “With...
Association of Southeast Asian Nations (ASEAN)+3 policymakers, including the Philippines, are urged to balance near-term spending with long-term fiscal discipline as shrinking fiscal space and rising debt costs stress the need for consolidation to meet climate- and aging-related demands, according...
President Marcos on Thursday, Aug. 14, signed Republic Act No. 12233, or the Judiciary Fiscal Autonomy Act, which he said will strengthen the independence, efficiency, and accountability of the country’s courts. In his ceremonial signing in Malacañan on Thursday, Aug. 14, Marcos said the...
The Philippines’ plan to temper spending on public goods and services in a bid to narrow its budget deficit to pre-pandemic levels may slow economic growth, according to the think tank Capital Economics. “Monetary easing across the region should support consumption and investment, but tighter...
The country’s leading mining groups welcomed the bicameral conference committee’s decision to remove the highly contentious ore export ban from the reconciled version of the bill seeking to reform the mining fiscal regime. In separate statements on Wednesday, June 11, the Chamber of Mines of...
The Fiscal Incentives Review Board (FIRB) has approved nearly ₱21 billion in tax subsidies requested by 10 government institutions, exempting these agencies from paying taxes and duties. As of May 21, the FIRB, chaired by Finance Secretary Ralph G. Recto, has approved ₱20.9 billion in tax...
While the share of the Philippine government's budget deficit and debt to the economy are going down and "stabilizing," respectively, the ASEAN+3 Macroeconomic Research Office (AMRO) is urging fiscal authorities across the region to remain prudent in spending on public goods and services as a...
US President Donald J. Trump's protectionist policies remain the top risk to Philippine economic prospects this year, according to the think tank Capital Economics. "A key uncertainty over the coming year is whether and to what extent Donald Trump follows through with his threats to impose tariffs...
