President Ferdinand "Bongbong" Marcos Jr. told the Department of Finance (DOF) to continue looking into the current tax system in the country and find ways to level the playing field between foreign and local businesses. President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of KJ Rosales/PPA...
Davao del Norte 1st district Rep. Pantaleon Alvarez (Facebook) Davao del Norte 1st district Rep. Pantaleon Alvarez is calling on the government to do away with what he described as "parasitic entities" in the bureaucracy as a way to save precious public funds. Alvarez, a former House Speaker,...
Davao del Norte 1st district Rep. Pantaleon Alvarez (Malacañang photo) Davao del Norte 1st district Rep. Pantaleon Alvarez expressed disappointment over the Department of Finance's (DOF) supposed plan to terminate the indexation of military and uniformed personnel (MUPs) in the face of rising...
The government should now focus on addressing supply constraints that caused high inflation, as President Marcos’ chief economic manager pointed out that monetary policy has already done enough to reign in demand. Finance Secretary Benjamin E. Diokno said that slower inflation recorded in March...
Finance Secretary Benjamin E. Diokno believes that it is very likely that inflation already peaked last January given the latest consumer price growth forecast of the Bangko Sentral ng Pilipinas (BSP). In a briefing on Tuesday, April 4, Diokno said the central bank’s forecast range of 7.4 percent...
The United Kingdom (UK) government launched its British Investment Partnerships (BIP) to finance sustainable development in the Philippines, the Department of Finance (DOF) said. “Today’s event is a major win not only in the Philippines’ development journey, but in the realm of development...
Land Bank of the Philippines is poised to overtake the Sy-led BDO Unibank Inc. as the country’s largest bank after President Marcos approved the proposed merger of the two state-owner lenders. Finance Secretary Benjamin E. Diokno said the government will merge the Development Bank of the...
A pause in interest rate hikes is likely in the policy meeting of the Bangko Sentral ng Pilipinas (BSP) in May, the Department of Finance (DOF) said. "The BSP has done enough, in my view,” Finance Secretary Benjamin E. Diokno told reporters after the central bank raised its benchmark interest rate...
The Bureau of Customs announced the creation of an advisory council that will engage all stakeholders, like the private sector, in formulating strategies for the government’s second largest tax agency. In a statement on Monday, March 20, Customs Commissioner Bienvenido Y. Rubio said the advisory...
The Department of Finance (DOF) reported that the national government posted a budget surplus in the first-month of the year owing to robust revenue collection and weak public spending. Finance Secretary Benjamin E. Diokno said on Friday, March 17, that the government fiscal surplus reached P45.75...
The Philippine economy is spared from the high-profile collapse of the Silicon Valley Bank (SVB), the Department of Finance (DOF) said on Wednesday, March 15. Finance Secretary Benjamin E. Diokno said local banks have no exposure to the problems faced in the US financial sector in the aftermath of...
The Maharlika Investment Fund (MIF) would be the alternative source of government financing once the Philippines becomes an upper-middle income economy, which disqualifies the country from less expensive development loans, the Department of Finance (DOF) said. Finance Secretary Benjamin E. Diokno...
