The Department of Finance (DOF) said the government should continue adapting fiscal reforms as tax collections begin to recover in the first three months of the year following the unprecedented spending last year due to the pandemic. Based on the latest DOF economic bulletin, Finance Undersecretary...
The Philippines has maintained its strong fiscal position with government assurances it can always afford to pay its foreign debt, the Duterte administration’s chief economic manager said. In a statement, Finance Secretary Carlos G. Dominguez III said that borrowing money has proven to be an...
The Philippines received the highest score among its peers in the Association of Southeast Asian Nations (ASEAN) in terms of improvement in cigarette tax policy, the Department of Finance (DOF) said. In a statement, the DOF said on Thursday, May 20, that the Philippines was among the countries...
The Duterte administration’s debt payments went up by more than half in the first three-months of the year owing to higher amortization, data from the Bureau of the Treasury revealed over the weekend. Based on the Treasury report, the total debt service of the national government reached P521.5...
Finance Secretary Carlos G. Dominguez III urged the Philippine Chamber of Commerce and Industry (PCCI) to continue organizing Sulong Pilipinas consultative forum beyond President Duterte’s term. At the close of the virtual Sulong Pilipinas 2021: Partners for...
The country’s recovery is not out of the woods just yet as risks posed by the coronavirus continue to threaten recent gains, the Department of Finance (DOF) said. In its latest economic bulletin on Friday, May 14, the DOF said that the pace of economic contraction in the first three-months of the...
The Department of Finance (DOF) has begun looking for funds for the inoculation program for young teens and for the probable need for a booster vaccination next year. Finance Secretary Carlos G. Dominguez III said on Thursday, May 13, that the government would need around P20 billion for...
The Department of Finance (DOF) said the government’s tax collections from cellular phone shipments increased by more than quarter in the first four-months of the year despite lower volumes. Preliminary data submitted by the Bureau of Customs to Finance Secretary Carlos G. Dominguez III revealed...
The Duterte administration will revisit its medium-term macroeconomic targets and fiscal program next week following a worse-than-expected economic performance in the first-quarter. In a media advisory released by the Department of Budget and Management (DBM), it said the inter-agency Development...
Finance Secretary Carlos G. Dominguez III called for the just and equitable distribution of coronavirus vaccines to ensure the access of lower-income and developing countries to life-saving medical interventions amid the prolonged pandemic. At the recent 54th Annual Meeting of the Asian...
The Department of Finance (DOF) expects non-food inflation to continue inching up in the coming months due to base effects from record low prices of petroleum products last year. In the latest DOF economic bulletin, Finance Undersecretary Gil S. Beltran noted that non-food price inflation went up...
The Asian Development Bank (ADB) is urged to substantially expand its loan portfolio in the next five years to support the swift recovery of its developing member-countries from the global economic shock of the pandemic. During the ADB Governors’ Seminar, Finance Secretary Carlos G. Dominguez III...
