The Department of Finance (DOF) is bullish on the country's improving unemployment numbers due to the government's robust strategy for creating jobs and driving investments. In a statement, Finance Secretary Benjamin E. Diokno expressed confidence that achieving an unemployment rate of four percent...
President Marcos has signed the Ease of Paying Taxes (EOPT) Act, also known as Republic Act No. (RA) 11976, last Jan. 5, marking a significant step in the modernization of the Philippine tax system and the reinforcement of taxpayer rights. Here, the Department of Finance outlined the...
The Department of Finance (DOF) reported a substantial increase in dividends remitted by state-run companies last year, with over half of the total amount came from the Bangko Sentral ng Pilipinas (BSP). Data from the DOF showed that government-owned or -controlled corporations (GOCCs) sent a total...
The Department of Finance (DOF) announced that the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act has already attracted over a trillion pesos in investment capital. According to a Facebook post by the DOF, projects approved under the CREATE Act, which aims to address...
The Department of Finance (DOF) said the Philippine economy is prepared to withstand any potential negative impacts of this year's El Niño phenomenon. In a statement, the DOF said that the national government's 2024 gross domestic product (GDP) target of 6.5 percent to 7.5 percent has...
The Department of Finance (DOF) secured concessional financing for big-ticket infrastructure projects under President Marcos’ Build Better More Program as well as grants for various development projects to support the country’s rapid growth. Since the beginning of the Marcos administration, the...
The Department of Finance (DOF) assured that it will continue with its efforts to help local government units (LGUs) in fully taking over government functions and services. In a statement, the DOF said there will be a study on operationalizing full devolution, which will help delineate the...
The Department of Finance (DOF) is looking into a proposal setting a debt ceiling that would determine whether the national government should increase or decrease its borrowing. Finance Secretary Benjamin E. Diokno said the DOF will consider the International Monetary Fund's (IMF) proposal to adopt...
The Department of Finance (DOF) said micro, small, and medium enterprises (MSMEs) have now more options to raise funds due to the Securities and Exchange Commission's (SEC) intensified initiatives to facilitate accessible funding for small businesses. In a statement, Finance Secretary Benjamin E....
The Department of Finance (DOF) said the national government's borrowing from local and foreign investors through the sale of debt papers demonstrated investor confidence in the Marcos administration. In a statement on Monday, Dec. 18, the DOF boasted President Marcos' multi-billion peso domestic...
After a seven-year hiatus prompted by human rights concerns, the Washington-led Millennium Challenge Corp. (MCC) has decided to resume providing grants to the Philippines. In a statement, Finance Secretary Benjamin E. Diokno said the US foreign aid agency that gives grant to developing countries...
The Development Budget Coordination Committee (DBCC) has increased its government revenue projection for this year due to stronger-than-expected collections and higher income from the customs and treasury bureaus. The DBCC, an interagency body responsible for setting the government’s...
