President Duterte’s chief economic manager bucked the legislative proposals seeking to set a statutory debt limit and create the government’s committee in charge of fiscal discipline. Finance Secretary Carlos G. Dominguez During the House ways and means committee hearing on Monday, Sept.6,...
Malacañang has underscored the importance of keeping the financially beleaguered Philippine Airlines (PAL) "in the air" amid the coronavirus disease (COVID-19) pandemic. (Photo from PAL Facebook page) Presidential Spokesperson Harry Roque said in a virtual press briefing Monday, Sept. 6 that the...
Government programs that sought to address the 2019 coronavirus disease (COVID-19) pandemic ‘contributed greatly to the net increase” of P472.572 billion in the country’s external debt in 2020, the Commission on Audit (COA) has revealed. COVID 19 tests In its 2020 Consolidated Audit Report on...
A Philippine-based climate justice advocacy group on Friday urged the governments of the United States, China and Japan to immediately end public and private funding for overseas coal projects and other fossil fuels. Asian Peoples’ Movement on Debt and Development (APMDD) The US, Japan, and China...
Government debt snowballed to a record high of P11.61 trillion as of July this year. Peso bills Based on the Bureau of the Treasury’s report on Tuesday, Aug. 31, the public debt increased 26.7 percent from P9.164 trillion in the same month last year, or an addition of P2.446 trillion in the past...
The national government plans to spend more than P1 trillion to settle some of its liabilities next year, but at the same time borrow over P2 trillion, data from the Department of Budget and Management (DBM) revealed. Under the proposed budget plan for 2022 submitted to Congress, the national...
Senate Minority Leader Franklin Drilon has urged state economic managers to reconsider allocating huge funds for the security sector for next year amid the “skyrocketing” national debt and a growing budget deficit. Drilon said he is dismayed at the negative growth in the social services sector...
Government debt inched up anew in June this year due to higher borrowings from foreign creditors. Data from the Bureau of the Treasury showed that the national government’s outstanding debt stock stood at P11.166 trillion as of June, up by P94.9 billion from P11.071 trillion in the previous...
The national government’s debt payments increased by half in May this year as both interest expense and amortization jumped by double-digits, data from the Bureau of the Treasury showed. Debt servicing of the Duterte administration accelerated by 53 percent during the month to P37.8 billion from...
Opposition Senator Leila de Lima on Wednesday said the public should keep tabs on the Duterte administration’s “debt spree” as the Philippines reached a high record of P11-trillion in borrowings. “With a record-breaking P11.07-trillion in debt, the Duterte administraiton continues to be on...
The Land Bank of the Philippines has certified that the local government of Paranaque City is now debt-free. Mayor Edwin Olivarez thanked City Treasurer Anthony Pulmano for using the “prudent spending and good governance” formula that enabled the city government to pay off its loan to Land Bank...
House Deputy Minority Leader and Bayan Muna Rep. Carlos Isagani Zarate on Tuesday, July 6 assailed as “nonsensical” Malacanang’s claim that government lacks money to grant cash assistance to Filipinos reeling from the devastating effects of the 2019 coronavirus disease (COVID-19) pandemic....
