The plenary hall of the House of Representatives (Dexter Barro II/MANILA BULLETIN) The House of Representatives has terminated the 2025 budget debates for the Department of Finance (DOF), National Economic and Development Authority (NEDA), and the...
San Miguel Corp.’s New NAIA Infra Corp. (NNIC) has remitted its upfront payment for the Ninoy Aquino International Airport (NAIA) public-private partnership (PPP) project, the Department of Finance (DOF) said. In a statement, Finance Secretary Ralph G. Recto said the P30 billion payment, made...
The Asian Development Bank's (ADB) new Country Partnership Strategy (CPS) to help support the Philippines in its goal to lift an additional eight million Filipinos out of poverty by the end of President Marcos Jr.'s term, the Department of Finance (DOF) said. “It was the Marcos, Jr....
The Department of Finance (DOF) expects that the Convention on Mutual Administrative Assistance in Tax Matters (MAAC) will enhance tax administration in the country. This was after the Senate had recently approved the Philippines' participation in the MAAC, a global agreement for tax cooperation,...
The Bangsamoro Government is poised to take over the Development Bank of the Philippines' (DBP) shares in the Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP), a move that aims to strengthen its economic autonomy and support development initiatives in the region. Finance Secretary...
The Department of Finance (DOF) vowed to tackle systemic issues impacting the implementation of projects funded by the Asian Development Bank (ADB). This was after the ADB’s 2024 Philippine Portfolio Review evaluated the performance of the Department of Public Works and Highways (DPWH) and...
President Marcos’ chief economic manager said that the country’s labor force remains robust, and lower inflation is expected to increase jobs in the wholesale and retail trade sectors through higher spending. Finance Secretary Ralph G. Recto said that the ongoing decline in inflation “will...
The Intergovernmental Fiscal Policy Board (IFPB) has approved guidelines for official development assistance (ODA) loans to the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). In a statement on Tuesday, Sept. 3, Finance Secretary Ralph G. Recto said that these guidelines will facilitate...
The Marcos administration successfully completed its second offshore commercial borrowing, raising $2.5 billion, the Department of Finance (DOF) announced. In a statement on Thursday, Aug. 29, the DOF reported that Manila sold notes maturing in 5.5 years and 10.5 years, along with 25-year debt...
The Philippines is set to secure a $500 million loan from the Asian Development Bank (ADB) to support its climate action initiatives, the Department of Finance (DOF) announced. During a meeting with Finance Secretary Ralph G. Recto, ADB President Asakawa stated that they are finalizing the approval...
The Marcos administration has launched a three-tranche US dollar-denominated bond offering, marking its second foray into the international debt markets this year. According to a report from Moody's Ratings, the bonds will mature in 2030, 2035, and 2049. Notably, a portion of the 25-year debt is...
The national government's budget deficit widened in the first seven months of the year, despite revenues growing at a faster rate than public spending, data from the Department of Finance (DOF) showed. During the DOF budget deliberations on Tuesday, Aug. 27, Finance Secretary Ralph G. Recto...
