The Department of Finance (DOF) wants investment promotion agencies (IPAs) to maximize the P58-billion budgetary support they got from the national government by luring more investments into the country. In a statement, Finance Secretary Carlos G. Dominguez III said on Monday, April 18, that...
The Philippine government sold its second “green” bonds, this time in the Japanese debt market through a four-tranche yen-denominated offering, the Bureau of the Treasury announced on Wednesday, April 13. The bureau said the government raised ¥70.1 billion, roughly P28.95 billion, via a...
Finance Secretary Carlos G. Dominguez III has appointed 958 local treasury executives in the past five years to improve the fiscal position of the local government units (LGUs). In a statement released by the Department of Finance (DOF) on Wednesday, April 13, it said that Dominguez’s...
Updating the country’s property valuation system is the correct way to impose a so-called “wealth tax” that local government units (LGUs) can impose on affluent individuals, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said on Monday, April 11, that LGUs can...
PH calls for new areas of cooperation in ASEAN By Chino S. Leyco Southeast Asian countries are urged to explore new avenues for cooperation to enable the region to collectively contain the economic fallout from the ongoing conflict between Russia and Ukraine. Collective and urgent action is...
As the incoming leader is set to inherit an economy rising out of pandemic, Finance Secretary Carlos G. Dominguez III disclosed that they had met with some presidential candidates and discussed current economic issues. Without naming names, Dominguez said on Tuesday, April 5, that a number of...
Until the end of President Duterte’s term, the current administration will be determined to collect the unpaid estate tax of the heirs of the late former President Ferdinand E. Marcos, the Department of Finance (DOF) said. On the sidelines of the Philippine Economic Briefing on Tuesday, April 5,...
Construction of the three bridges funded by the the Asian Development Bank (ADB) will commence this second quarter or within the last three months of the Duterte administration, the Department of Finance (DOF) said. In a statement, Finance Secretary Carlos G. Dominguez III said the $175.1-million,...
The Philippines is looking at working with the United Arab Emirates (UAE) in conceptualizing and implementing innovative energy efficiency programs to contribute to the global effort to reverse the devastating effects of climate change, a Cabinet official said. During the Climate Change Virtual...
The Bureau of the Internal Revenue (BIR) is planning to auction off some of the properties of the late President Ferdinand E. Marcos as his heirs continue to refuse in paying the estate tax. In a report to Finance Secretary Carlos G. Dominguez III on Wednesday, March 30, the BIR disclosed that the...
The time spent in settling insurance claims and resolving loan accounts in closed banks was significantly reduced following the Philippine Deposit Insurance Corp.’s (PDIC) shift to digital platforms, the Department of Finance (DOF) said. Roberto B. Tan, PDIC president and chief executive officer...
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...
