The Duterte administration has completed its third foreign commercial borrowing this year. Screen Shot 2021-06-29 at 9.59.33 AM The national governm Screen Shot 2021-06-29 at 9.59.33 AM ent has raised $3 billion, equivalent to P146 billion, from a dual tranche offering of 10.5-year and 25-year...
The finance and trade departments signed the implementing rules and regulations (IRR) of the corporate recovery and tax Incentives for enterprises (CREATE) law, the government’s largest fiscal stimulus package for businesses in the country’s history. Ahead of the July 10, 2021 deadline, Finance...
The Department of Finance (DOF) thanked the Japanese government for its funding assistance extended to the Philippines that supported its coronavirus response efforts, especially in providing emergency assistance to vulnerable sectors. In a statement, Finance Secretary Carlos G. Dominguez III said...
President Duterte’s chief economic manager said that additional stimulus spending for this year, if there would be any, will not be funded by borrowings. Citing “the President's policy of prudent fiscal management,” Finance Secretary Carlos G. Dominguez III said the executive department would...
The Department of Finance (DOF) said the newly formed committee tasked to streamline trade processes and modernize major customs operations will be beneficial to micro, small and medium enterprises (MSMEs). Finance Secretary Carlos G. Dominguez III said the Philippine Trade Facilitation Committee...
President Duterte’s chief economic manager justified the multi-trillion peso borrowings for the year, citing the national government needed to rely on financing to the bridge the widening gap between revenues and expenditures. Finance Secretary Carlos G. Dominguez III said on Tuesday, June 15,...
Despite being behind other regional economies in terms of recovery from the malaise of the global pandemic, the government’s chief economic manager assured that the country can bounce back stronger due to sound economic fundamentals. Finance Secretary Carlos G. Dominguez III said on Tuesday, June...
Businesses should invest heavily in digitalization and innovation to stay competitive as the world rapidly transitions to a new post-pandemic global economy, the government’s chief economic manager said. In a statement, Finance Secretary Carlos G. Dominguez III said on Monday, June 14, that...
President Duterte’s chief economic manager urged the Governance Commission for Government-Owned and -Controlled Corporations (GCG) to incorporate the assessments made by regulatory agencies in evaluating the performance of state-run firms. In a statement, Finance Secretary Carlos G. Dominguez III...
The Fiscal Incentives Review Board (FIRB) has adopted the framework for the grant of incentives to qualified industries under the government’s Strategic Investment Priorities Plan (SIPP). As provided in the newly enacted Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law that...
The Department of Finance (DOF) is exploring a number of projects, including the first urban car cable system in the country, for possible funding by France. In a statement released on Friday, June 4, the DOF said that Finance Secretary Carlos G. Dominguez III and French Ambassador to the...
The Philippines' chief economic manager said the domestic economy should quickly adapt digitalization to remain viable, otherwise "drown in its wake." At virtual groundbreaking ceremonies of Union Bank of the Philippines Innovation Campus, Finance Secretary Carlos G. Dominguez III saiid that the...
