The Philippines faces mounting economic and financial risks from climate change, with projected losses reaching as much as 13 percent of gross domestic product (GDP) by 2040 unless the country urgently scales up climate financing and aligns adaptation and mitigation efforts, according to state-run...
The Philippines and the United States (US) have moved to accelerate the 2026 development agenda for the Luzon Economic Corridor, signaling a deepening of trilateral ties to transform Manila’s industrial heartland into a premier investment destination. Finance Secretary Frederick D. Go met with...
The Philippine government is stepping up efforts to attract high-impact foreign investments, positioning the country as a stable destination amid global uncertainty. Speaking at the Philippine Executive Forum on April 20, Finance Secretary Frederick D. Go outlined the country’s economic case to a...
The United States (US) and the Philippines have selected New Clark City in Tarlac as the site for a 4,000-acre technology economic zone in efforts to rewire global supply chains away from Chinese dominance. Frederick D. Go, who also serves as the country’s investment czar, told Manila Bulletin on...
President Marcos’ chief economic manager is pressing global financial institutions for enhanced budgetary support and emergency financing, warning that escalating Middle East tensions and climate-driven crises are severely narrowing the fiscal maneuvering room for emerging economies. Speaking at...
The Department of Finance (DOF)-led People’s Survival Fund (PSF) has expanded its commitment to local climate action, approving a combined ₱127.3 million in grants for four major adaptation projects across the Philippines. These initiatives, approved during the recent PSF board meeting,...
Finance Secretary Frederick D. Go has called for stronger ties between the Association of Southeast Asian Nations (ASEAN) and the European Union (EU) to expand financing access for small businesses across the region. “Given the EU’s expertise in digital and sustainable finance, Go called for...
President Ferdinand Marcos Jr.’s economic team said Filipino consumers are unlikely to see meaningful relief from the suspension of excise taxes on gasoline and diesel, as any reduction in pump prices would be minimal and likely offset by prevailing market forces. This was the Cabinet-level...
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 27-2026, publishing the updated list of medicines exempt from 12-percent value-added tax (VAT), as endorsed by the Food and Drug Administration (FDA). Released on April 8, 2026, the circular covers 2,263...
The fiscal outcomes under the BBM administration reflected the government’s consolidation-with-growth stance, with revenues strengthening faster than expenditures and the deficit gradually narrowing. Owing to data availability, we can only analyze the fiscal results for fiscal years 2023 and...
The interagency Fiscal Incentives Review Board (FIRB) has allowed registered business enterprises (RBEs) in economic zones and freeports to temporarily adopt work-from-home (WFH) arrangements of up to 90 percent of their workforce, following the declaration of a national energy emergency. In a...
Amid a national energy emergency, government response to the oil crisis is expected to accelerate spending in the first half of the year, reversing a slump in infrastructure expenditures last year in the aftermath of the flood-control corruption scandal. According to the Department of Budget and...
