The Philippines has secured a $600 million grant (around ₱37 billion) from the United States (US) to expand access to quality healthcare and strengthen the country’s resilience against public health threats. The Department of Finance (DOF) facilitated the non-repayable grant under the Strategic...
President Marcos is moving to abolish 21 state-run companies and has categorized 30 others as non-operational, inactive, or deactivated as the government accelerates efforts to wind down underperforming government entities and trim public spending. Finance Secretary Frederick D. Go said in a DZRH...
Local government units (LGUs) significantly ramped up borrowing in July, with loan requests surging to ₱8.5 billion from ₱904.4 million a year earlier, as newly elected local officials began rolling out big-ticket projects following the 2025 elections. According to data from the Department of...
Net revenue could exceed ₱190 billion over four years if the Philippines implements a package bill that combines the revenue-eroding income tax exemptions with the revenue-offsetting measures proposed this year. Department of Finance (DOF) Undersecretary Karlo Fermin S. Adriano said the agency...
Stricter monitoring and technical assessments of imported goods—rather than higher import volumes—likely drove the Bureau of Customs (BOC) past its ₱82-billion revenue target for July, according to its chief. Speaking to reporters during the turnover of proceeds from forfeited luxury...
Proposed tax reforms are expected to cost the government roughly ₱66 billion in annual revenue as the Marcos administration trades fiscal collection for broader consumer and small-business relief, according to the Department of Finance (DOF). Finance Secretary Frederick D. Go said the package,...
State-run Maharlika Investment Corp. (MIC), manager of the Philippines’ first sovereign wealth fund, expects to become a regular member of the International Forum of Sovereign Wealth Funds (IFSWF), a global organization that promotes good governance, transparency, and accountability among SWFs....
HD Hyundai Heavy Industries Philippines Inc. launched its first locally constructed vessel from its Subic Bay shipyard, signaling the full-scale operational rollout of the South Korean conglomerate 's shipbuilding operations in the country. The vessel, named Orion Jade, is the first of four...
Returning exported goods originally bound for the Middle East may re-enter the country duty-free, as long as they have not been modified or improved through manufacturing or other processes while abroad, the Bureau of Customs (BOC) announced. “All district collectors are hereby directed to ensure...
The government is now ready to begin laying the groundwork for a program aimed at strengthening the export potential of small and medium-sized enterprises (SMEs) after securing more than $3 million, or roughly ₱185 million, in funding from international development banks. The Department of...
The government is offering expansive tax relief to large corporations and top exporters under new implementation guidelines designed to spur industrial investment and lower operational overheads. Under a Department of Finance (DOF) regulation signed by Finance Secretary Frederick D. Go, companies...
Another $1-billion loan has been added to the World Bank’s financing pipeline for the Philippines, aimed at strengthening government disaster preparedness and response amid increasing climate as well as natural hazard risks. The World Bank disclosed in a July 22 program information document...
