The Department of Finance (DOF) said that S&P Global Ratings' affirmation of the Philippines' investment grade credit rating signifies a vote of confidence. In a statement on Wednesday, Nov. 29, Finance Secretary Benjamin E. Diokno said that S&P Global's favorable decision follows a series...
The Department of Finance (DOF) said it is premature for the Philippines to consider implementing the minimum tax rate on corporate income, as proposed by advanced economies. Finance Secretary Benjamin E. Diokno said on Tuesday, Nov. 28, that the 15 percent global corporate minimum tax, proposed by...
The Department of Finance (DOF) said the government’s first-ever sukuk bond offering will be settled by the middle of December this year. In a briefing on Tuesday, Nov. 28, Finance Secretary Benjamin E. Diokno said the Bureau of the Treasury has just announced the sukuk bond issuance, noting that...
The Department of Finance (DOF) is optimistic that the government will be able to exceed its full-year revenue target by generating around P1 trillion in the final three months of the year. Finance Secretary Benjamin E. Diokno said he expects the national government's total revenue collection for...
The Department of Finance (DOF) has stated that the Philippine economy's macroeconomic fundamentals are strong, setting the stage for a solid start to 2024. Finance Secretary Benjamin E. Diokno said the country has maintained strong economic performance this year, despite facing difficulties in the...
The Philippines has been formally inducted into the Board of Vulnerable 20 Group of Finance Ministers (V20) - Group of Seven (G7) Global Shield Against Climate Risks, marking a pivotal step towards bolstering the nation's resilience against climate-related challenges. The Department of Finance...
The Department of Finance (DOF) has announced its readiness to expedite local government units' (LGUs) access to climate financing through efficient resource mobilization and increased private sector participation. In a statement, Finance Secretary Benjamin E. Diokno expressed the readiness of the...
President Marcos’ chief economic manager has expressed “full confidence” that the Philippine economy remains firmly on the path to recovery and progress despite growing below target. Finance Secretary Benjamin E. Diokno said the country’s first three-quarter gross domestic product (GDP)...
The Philippines will benefit from the new credit line approved by the World Bank that aims to minimize the impact of major natural disasters and health crises on the domestic economy, the Department of Finance (DOF) said. Finance Secretary Benjamin E. Diokno said the $500-million standby credit...
The Bureau of Customs (BOC) has made significant advancements under the leadership of Finance Secretary Benjamin E. Diokno, as it intensifies efforts to combat illicit trade and enhance trade facilitation and border control. Diokno emphasized the critical importance of curbing illicit trade, citing...
The Department of Finance (DOF) vowed to help the private sector create an inclusive and sustainable business environment in the Philippines. During the Asia-Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) meeting, Finance Secretary Benjamin E. Diokno recognized the vital...
Bureau of Internal Revenue (BIR) Commissioner Romeo D. Lumagui Jr. expressed gratitude to the Department of Finance (DOF) for acknowledging the tireless efforts in raising government funds. In a press release last Nov. 15, the DOF praised the BIR for performing exceptionally well in revenue...
