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...
Finance Secretary Benjamin E. Diokno was not bothered about rumors that he was on his "way out" of the Marcos administration, saying his reported replacement, who is currently a House lawmaker, is a friend. On the sidelines of the Pilipinas Conference on Tuesday, Nov. 22, Diokno shrugged off...
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) will review the plan on the potential transformation of its Diliman property into a mixed-use complex that will cater to commercial establishments, office buildings and other premier development ventures. According to...
The Marcos administration plans to create an ad hoc group composed of economic mangers, as well as trade and agriculture secretaries that would put public interest ahead of vested interest groups on the supply and demand of key commodities. Finance Secretary Benjamin E. Diokno said that one of the...
The Philippines has joined a regional initiative that aims to set tailored solutions to ensure the implementation of tax transparency standards across Asia, the Department of Finance (DOF) said. Finance Secretary Benjamin E. Diokno said the Philippines has endorsed the Bali Declaration, which calls...
The Department of Finance (DOF) has thrown its full support behind Customs Commissioner Bienvenido Y. Rubio, tasking the newly installed chief of the government’s second largest tax agency to prioritize digitalization. Finance Secretary Benjamin E. Diokno said modernizing the Bureau of Customs...
President Marcos’ economic team has made a pitch for investing in the Philippines and sought Japanese participation in the country’s “high-impact sectors,” the Department of Finance (DOF) said. At the Philippine Business Opportunities Forum (PBOF) in Tokyo, Japan, Finance Secretary Benjamin...
The Department of Finance (DOF) has signed two loan agreements worth Y377.02 billion, equivalent to P156.08 billion, with the Japanese government for the implementation of the North-South Commuter Railway project and its extension on the sidelines of President Ferdinand R. Marcos Jr.'s visit to...
The Department of Finance (DOF) said the significant improvement in the country’s labor market would help soften the impacts of high inflation on the domestic economy. In a statement, Finance Secretary Benjamin E. Diokno said the steady unemployment rate and lower underemployment rate will help...
The Department of Finance (DOF) said the national government is looking at selling euro-denominated retail bonds targeted at overseas Filipinos. Finance Secretary Benjamin E. Diokno said the Bureau of the Treasury is studying the possible domestic issuance of retail treasury bonds (RTB) in euro...
Senators on Wednesday, February 1 took turns grilling members of President Ferdinand “Bongbong” Marcos Jr.’s economic team who are pushing hard for the passage of the Maharlika Investment Fund (MIF) bill as they sought for answers about the purpose and vision of the measure which was...
The mining sector is amenable to the government’s planned higher taxes as long as the move will not put them out of business and not discourage the strong interest by the world’s top mining giants to invest in the country. Mike Toledo, president of the Chamber of Mines of the Philippines...
