High-level Philippine and Japanese officials are set meet to virtually this week to discuss infrastructure development and economic cooperation between the two nations. On July 28, Finance Secretary Carlos G. Dominguez III and Socioeconomic Planning Secretary Karl Kendrick T. Chua will meet with...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno could not emphasize more strongly how crucial the proposed bills on consumer protection are to ensure integrity and trust in the financial system. “These (pro-consumer bills) are seen to further strengthen the trust and confidence of...
Finance Secretary Carlos G. Dominguez III said a strong government-private sector partnership is needed to help the Philippines breach the digital divide and achieve financial inclusion for all Filipinos. Dominguez said the government is fully aware that the private sector’s expertise and...
The Department of Finance (DOF) is crafting “a playbook” that the next administration may consider to relieve the fiscal stress caused by the prolonged pandemic on the national government. With less than a year left before President Duterte's term ends in June next year, Finance Secretary...
The Department of Finance (DOF) is reviewing the Bureau of Internal Revenue’s (BIR) regulation, technically deferring the imposition of the value-added tax (VAT) on exporters’ purchases from local suppliers and indirect/constructive export transactions. Finance Secretary Carlos G. Dominguez III...
Most local executives remained heavily dependent on income they received from the national government to fund their operations, data from the Department of Finance’s (DOF) Bureau of Local Government Finance (BLGF) revealed. Based on the latest operating income reports submitted by local...
The local currency has remained one of the strongest among Asian countries despite the peso’s recent depreciation against the US dollar, the Department of Finance (DOF) said. Finance Undersecretary and Chief Economist Gil S. Beltran said the peso depreciated by 1.05 percent against the dollar...
The Department of Finance (DOF) expects the elevated rate of increase in food prices would peak this month due to rising volume of meat imports that boosted domestic supply. In a statement on Wednesday, July 14, Finance Undersecretary and Chief Economist Gil S. Beltran said that food price...
State-run National Transmission Corp. (Transco) plans to remit the company’s entire profit to the government’s coffers to help fund the country’s coronavirus response programs, the Department of Finance (DOF) revealed. In a statement, the finance department said on Tuesday, July 13, that...
The adverse impact of the prolonged pandemic will be short-lived, the government’s chief economic manager and the central bank governor said after Fitch Ratings downgraded the Philippines’ outlook to negative. BSP Gov. Benjamic Diokno and Finance Sec. Carlos Dominguez III Finance Secretary...
The Department of Finance (DOF) has flagged a possible sugar smuggling scheme employed by unscrupulous traders taking advantage of the Sugar Regulatory Administration’s (SRA) export replenishment program. In a statement on Monday, July 12, Finance Secretary Carlos G. Dominguez III said he has...
The arrival of more coronavirus vaccines will provide the country’s economy a big shot in the arm, the Department of Finance (DOF) said. Finance Undersecretary and Chief Economist Gil S. Beltran said that health risks posed by the pandemic should be managed effectively and efficiently to ensure...
