The Department of Finance (DOF) said the unprecedented challenge brought by the pandemic underscored the importance of “greater solidarity and stronger collaboration among nations” to overcome the crisis and return to the path of strong global growth. Finance Secretary Carlos G....
The Department of Finance (DOF) said the Philippines needs to maintain its good economic fundamentals to allow the nation to recover promptly as the pandemic-induced lockdowns continued to ease. Finance Undersecretary Gil S. Beltran said this means the government should maintain the budget...
The local equities market is “doing very well” despite the global economic shock triggered by the pandemic, the Department of Finance (DOF) said, citing a report of the Philippine Stock Exchange (PSE). In a statement, the DOF quoted PSE President Ramon Monzon as saying that the Philippines’...
The government seized an estimated P9.52 billion-worth of smuggled goods since January this year, more than half of which came from illicit cigarettes, the Bureau of Customs said. In a report submitted to Finance Secretary Carlos G. Dominguez III, Deputy Customs Commissioner...
The World Bank has approved two loans to the Philippines to support the country's recovery efforts from the coronavirus pandemic, improve competitiveness, as well as build resilience against shocks and natural disasters. In a statement, the Washington-based lender, said it approved $900 million...
The Bureau of Internal Revenue (BIR) has collected additional taxes from commercial establishments that were padlocked earlier for failing to either register or pay the correct amount of tax. In a statement, BIR Deputy Commissioner Arnel Guballa said they have collected a total...
The national government debt payments increased in October due to bigger maturing obligations, data from the Bureau of the Treasury showed. Debt servicing hit P27.19 billion in October this year, higher by eight percent compared...
The Bureau of Customs wants to collect several tax deficiencies uncovered in a post-clearance audit of cooperatives that imported rice since last year, the Department of Finance (DOF) said. In a statement, the DOF quoted Customs Commissioner Rey Leonardo Guerrero as saying that a post-clearance...
The Asian Development Bank (ADB) downgraded its growth forecast for the Philippines as the nation struggled in containing the coronavirus outbreak that hampered economic recovery. Based on ADB’s Asian Development Outlook update, the Manila-based multilateral institution has projected that the...
Climate-related challenges remain formidable threats to the Philippines’ gradual recovery from the prolonged coronavirus pandemic, the Department of Finance (DOF) said. Speaking at a virtual World Bank forum, Finance Secretary Carlos G. Dominguez III acknowledged the urgency of implementing...
The Department of Finance (DOF) is urging the Department of Agriculture and Department of Transportation (DOTr) to facilitate the movements of food supplies to ensure prompt price normalization. Following the uptick in...
The Philippines got the lowest coupon ever after raising $2.75 billion from the global bond market, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno. “The Philippines set a record for lowest coupon levels,” said Diokno on Thursday. The ROPs sold have maturities of 10.5...
