The Marcos administration completed its first overseas bond sale for the year to help bridge the budget deficit and support initiatives for protecting natural resources, the Department of Finance (DOF) said. In a statement released on Wednesday, May 8, the DOF announced that Manila successfully...
The national government's earnings from owning certain companies have already reached P88.6 billion, about an elevenfold increase from the P8 billion recorded last year. Speaking at the 2024 Government-Owned or -Controlled Corporations day, Finance Secretary Ralph G. Recto said that they expect to...
Department of Finance Secretary Ralph G. Recto said that revenues during the first four months may hit around P1.4 trillion, which makes about 32 percent of the P4.3 trillion target this year. This translates to a 7 percent increase from the P1.3 trillion collected in the same period last year....
Despite a recent downward revision in the economic growth outlook, the Department of Finance (DOF) said that the Marcos administration is standing by its tax collection target for the year. Finance Secretary Ralph G. Recto said that the Bureau of Internal Revenue (BIR) and the Bureau of Customs are...
Finance Secretary Ralph G. Recto said he expects the economy to grow within the target band of 5.8 percent to 6.3 percent in the first quarter of this year. These estimates were based on the high base effect from last year wherein the economy grew by 6.4 percent during the first quarter, Recto...
The Marcos administration plans to borrow more funds this year than initially planned, the Department of Finance (DOF) announced. In a statement, Finance Secretary Ralph G. Recto said on Monday, April 29, that the national government plans to borrow P2.57 trillion in 2024. The funds will be...
The Department of Finance (DOF) assured that the country’s economic fundamentals are robust enough to weather any unforeseen developments in the United States. With a strong foundation in place, Finance Secretary Ralph G. Recto said the Philippines is well-equipped to navigate any potential...
Finance Secretary Ralph Recto and his family attended the Department of Finance (DOF) anniversary celebration, which garnered positive feedback from many of the attendees. However, some employees were still disheartened. At the 127th DOF anniversary party last Friday, Recto was accompanied by his...
Had Ralph Recto heeded his wife's request, he might not be the Secretary of Finance (SOF) today. This revelation was shared by veteran actress Vilma Santos-Recto, who openly admitted her strong opposition to President Marcos’ offer for her husband to take the role. Santos-Recto opposed the...
Filipino borrowers hoping for a reduction in interest rates will have to hold their horses as the anticipated rate cuts may not come in the near future. Finance Secretary Ralph G. Recto said on Friday, April 26, that elevated inflation is likely to persist, and interest rates may remain high for a...
The Philippines is keen on hosting the Loss and Damage Fund (LDF) Board to secure increased climate financing and wider opportunities for cooperation to effectively tackle the impacts of climate change. In a statement on Tuesday, April 23, Finance Secretary Ralph G. Recto announced that President...
The Department of Finance (DOF) has warned that the government’s slow implementation of digitalization amid the rapid growth of e-commerce could result in significant revenue loss. In a statement, the DOF said that Finance Secretary Ralph G. Recto is now seeking additional funding from the...
