The Department of Finance (DOF) wants financial technology (Fintech) companies in the country to be properly regulated and taxed while encouraging the sector’s growth and continued innovation. In a statement, DOF Secretary Carlos G. Dominguez III said Tuesday, Nov. 16, that he has tasked the...
The ratio between the country’s economic output and the budget deficit incurred by the national government widened in the first nine-months of the year, the Department of Finance (DOF) said. Data from the DOF showed Monday, Nov. 15, that the Duterte administration’s fiscal gap inched up to 8.3...
The Department of Finance (DOF) has warned that the proposed suspension of the excise taxes on fuel will be inequitable and lead to significant revenue losses, thus threatening the country’s recovery and growth prospects. Amid calls for the government to address the recent spiral in fuel prices,...
In line with the Philippine government’s aggressive pledge to the 26th Conference of the Parties (COP26) Climate Change Summit on carbon emissions reduction, the investors in the energy efficiency (EE) space are batting for higher reclassification on fiscal incentives to be granted to them so the...
A new private sector-led global organization is exploring a possible country partnership with the Philippines to assist in hastening its transition to green and renewable energy (RE) sources, the Department of Finance (DOF) said. In a statement, the DOF said on Friday, Nov. 12, that Finance...
The Philippines has formally committed to reverse forest loss and land degradation by 2030, the Department of Finance (DOF) announced on Thursday, Nov. 11. In a statement, the DOF said the Department of Foreign Affairs (DFA) recently transmitted President Duterte’s letter to the government of the...
The Philippines has called for an end to the debate on climate change, and for nations to start implementing concrete actions to fulfill their respective commitments and “obligations to humanity” to save the planet from an environmental catastrophe. “The Philippines is determined to be a...
The next Department of Finance (DOF) head needs to keep a close eye on four pressing issues, such as public debt, inflation, exacerbated inequality and climate change, President Duterte’s chief economic manager said. Eight months before the term of the Duterte administration ends, Finance...
The Philippines urged governments and multilateral development banks (MDBs) work closely in addressing the transitional adjustments that might have to be undertaken to ensure the seamless implementation of climate-related projects on the ground. Finance Undersecretary Mark Dennis Joven said that...
Finance Secretary Carlos G. Dominguez III has underscored the importance of the “blended approach” or sustainable orchestration of grants, investments, and subsidies to make climate finance work for its beneficiaries. IMG_1313 During a ministerial dialogue on climate finance at COP26, Dominguez...
The Philippines incurred billions of pesos in losses due to climate-related hazards in over a decade despite contributing only a meager to global greenhouse gas emissions. The Department of Finance (DOF) revealed Tuesday, Nov. 2, 2021, that extreme weather driven by climate change cost the...
Economic recovery is “not a horse race” among Asian peers, the Department of Finance (DOF) clarified after a number of analysts anticipated that the Philippines may likely become the last country in region to regain its pre-pandemic growth level. “I don't watch the projections for the...
