The Philippines is still a lucrative destination for foreign investors with its long-term favorable growth prospect being bolstered by a strong recovery in foreign direct investments (FDI), the Department of Finance (DOF) said. Finance Undersecretary Gil S. Beltran said on Thursday, Jan. 19, noting...
The Securities and Exchange Commission (SEC) has approved five corporations that will acquire the bad loans and non-performing assets (NPAs) of financial institutions affected by the pandemic-induced crisis, the Department of Finance (DOF) said. In a statement, the DOF said that five Financial...
The inter-agency Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives to a P10-billion cement manufacturing project of San Miguel Equity Investments, Inc., the Department of Finance (DOF) announced. In a statement, the DOF said on Monday, Jan. 17, that the FIRB, upon the...
The Department of Finance (DOF) expects inflation to gradually trend downward in the coming months as the government implements programs aimed at mitigating food supply concerns. Finance Undersecretary and Chief Economist, Gil S. Beltran, said the further deceleration of inflation to 3.65 percent...
Finance Secretary Carlos Dominguez III has cited the initiatives of the Capital Market Development Council (CMDC) to make the Philippine financial system “broad-based and inclusive” as among the lasting legacies of the body under the Duterte administration. In step with President Duterte’s...
The Department of Finance believes the Philippines should continue to import pork as the local hog industry has yet to recover from the African swine (ASF) outbreak. Finance Undersecretary and Chief Economist Gil S. Beltran said on Thursday, Jan. 13, that the country “definitely” needs to...
DOH The Department of Health (DOH) said it is set to discuss, together with other concerned agencies, the funding of the special risk allowance (SRA) of medical workers for this year. DOH Secretary Francisco Duque III said that he is set to meet the officials of Department of Budget and Management...
The Department of Finance (DOF) said Filipinos need to learn to live with COVID-19 despite the fear of it, but at the same time the country should remain vigilant as the coronavirus’ mutations continue to occur. As current surge accelerates way faster than the previous wave of infections, Finance...
The Department of Finance (DOF) has commended President Duterte and the members of Congress for the enactment of a law that will further liberalize the economy and open up the country to more foreign direct investments (FDIs). Finance Sec. Carlos Dominguez III In a statement, Finance Secretary...
The Department of Finance (DOF) remains optimistic that Congress will pass this year the remaining tax reform packages that aim to reform the property valuation system and simplify capital market taxation. After the legislature was able to act on a slew of economic liberalization bills in 2021,...
The Department of Finance (DOF) said the Philippines has secured about $800 million worth of financing from multilateral development banks (MDBS) in December to ensure the government has funds to procure coronavirus booster shots. Finance Undersecretary Bayani H. Agabin said on Friday, Jan. 7, that...
Despite a budget deficit breaching the P1 trillion mark, the national government’s revenue collections remained strong last year, an indication that the country is poised to achieve a robust economic recovery, a ranking finance official said. Finance Undersecretary Gil S. Beltran said there were...
