Despite a double-digit drop in dividend remittances early this year, the Department of Finance (DOF) remains confident that total collections from government-owned and -controlled corporations (GOCCs) in 2025 will surpass the more than ₱136 billion recorded in 2024. Total dividends collected by...
With illegal tobacco incidence reaching an all-time high of 18.2 percent in 2024, Philippine Tobacco Institute (PTI) has urged the Marcos administration to recalibrate tax rates to help reverse the declining state of the tobacco industry. The latest industry data showed that illicit cigarettes...
With United States (US) President Donald Trump shutting down the Millennium Challenge Corp. (MCC), the threshold program that the US aid agency had been developing with the Philippines will no longer push through. But Finance Secretary Ralph G. Recto, the Marcos administration 's chief...
President Marcos’ chief economic manager stated that the government’s current revenues are more than sufficient to cover its expenses even without imposing new taxes, as total tax collections grew by double digits to over ₱930 billion in the first quarter of the year. Tax collections climbed...
The Philippine government will shell out $7.4 billion, or about ₱415.9 billion, to co-finance with the World Bank an upcoming program aimed at making domestic agriculture sustainable. An appraisal program information document of the World Bank, dated April 24, said the Department of Agriculture's...
The Philippines has urged international financial institutions (IFIs) to increase their assistance to emerging markets and developing economies (EMDEs) amid escalating global challenges and risks. “International financial institutions, such as the World Bank and the International Monetary Fund...
Finance Secretary Ralph G. Recto The Department of Finance (DOF) has released new revenue regulations to simplify the process for private entities to avail of tax incentives, aiming to boost investments in education and human capital development. In a statement, Finance Secretary Ralph G. Recto...
Idle government assets valued at over ₱600 million will be re-advertised for sale through negotiated sales, after receiving no bids or offers in early April. The Privatization and Management Office (PMO), a Department of Finance (DOF)-attached agency, told Manila Bulletin on Friday,...
Department of Finance Secretary Ralph Recto and BCCP Executive Chairman Chris Nelson Department of Finance Secretary Ralph Recto welcomed British Chamber of Commerce Philippines (BCCP) Executive Chairman Chris Nelson in its recent courtesy visit on April 7, 2025. The visit is a testament to the...
The World Bank would greenlight a $700-million (over ₱40-billion) loan for the Philippines in July, aimed at making local communities more resilient to natural disasters. According to a World Bank appraisal project information document dated April 8, the objective of the upcoming Philippines...
March’s nearly five-year low inflation was particularly a boon to the country’s poorest households, whose price increase rate was even slower at 1.1 percent, prompting the government to push for measures that would sustain the easing of the vulnerable sector’s burden. “The lower food...
The country’s leading business groups and foreign chambers are urging the Marcos administration’s chief economic manager to defer the implementation of an inter-agency pre-border inspection policy, warning that it may discourage trade to the Philippines. In a March 26 letter addressed to...
