The Marcos administration is looking to ramp up the sale of government assets this year, data from the Development Budget Coordination Committee (DBCC) revealed. Based on the DBCC's quarter fiscal program approved last May 23, the national government expects to generate P42.12 billion in proceeds...
The exemption of trucks from toll fee increases and availing of rebates will prevent an impact on second-round effects on food inflation, Finance Secretary Ralph G. Recto said. “I thank our government agencies as well as our partner toll expressway concessionaires and operators for their full...
House Speaker Martin Romualdez (left), DOF Secretary Ralph Recto (Speaker’s office, Facebook) House Speaker Martin Romualdez has thanked on Wednesday, May 29 Department of Finance (DOF) Secretary Ralph Recto for making good his...
Reducing the tariff on imported rice to 17.5 percent would be more favorable to the consumers and farmers, Finance Secretary Ralph G. Recto said. On the sidelines of the Philippine Economic Briefing on Monday, May 27, Recto said that there should be a balance between the two parties when...
Finance Secretary Ralph G. Recto admitted the daunting challenge of digitizing the government's tax system, prompting the need to explore non-tax revenue sources for additional funding. Recto told Manila Bulletin on Tuesday, May 28, that the Marcos administration's digitalization initiatives to...
The Department of Finance (DOF) has projected that the average yearly income of Filipinos is on track to almost double in the next six years to around P378,000, propelled by the expanding middle class. Currently, Finance Secretary Ralph G. Recto revealed that the average income per person in the...
Finance Secretary Ralph G. Recto lauded the recent issuance of an order aimed at enhancing the monitoring of imported goods entering the country through digital pre-border verification and electronic invoicing. As the chair of the committee overseeing the implementation of President Marcos’...
In response to the shifting consumer preferences towards e-commerce, the Department of Finance (DOF) wants to bring the country's tax collection system in line with the best practices of three leading Asian nations. Finance Secretary Ralph G. Recto said the Bureau of Internal Revenue (BIR) and the...
The Department of Finance (DOF) said the Philippines has secured a $10 million grant from the Green Climate Fund (GCF) to enhance resilience and sustainable development. The DOF said the grant is a crucial step in bolstering the country's readiness to address climate hazards and accelerate...
The Department of Finance (DOF) will review the proposed amendment to the Rice Tariffication Law (RTL) to ensure that the debts from the National Food Authority (NFA) do not inflate. Finance Secretary Ralph G. Recto said that the law is working, however, he noted that some tweaks should be done to...
Finance Secretary Ralph G. Recto said that the national government will expand the authorized capital stock of the Land Bank of the Philippines (Landbank) to P1 trillion. Recto told reporters that the amendments to the charters of the two major state-run banks Landbank and the Development Bank of...
Despite the slowdown, President Marcos' three economic managers emphasized that the Philippines has maintained its position as one of the fastest-growing economies in the region. Budget Secretary Amenah F. Pangandaman, Finance Secretary Ralph G. Recto, and National Economic and Development...
