For the first time since late 2006, big banks’ outstanding loans declined by 0.7 percent year-on-year in December 2020 during the initial year of the COVID-19 pandemic which pulled the economy into a recession. Total bank lending net of banks’ reverse repurchase (RRP) placements with the Bangko...
The central bank’s term deposit facility (TDF) auction was still oversubscribed but results were mixed while yields continue to decline. “There was a slight undersubscription in the 7-day TDF, receiving bids 0.88x the offer volume. Meanwhile, the 14-day TDF was oversubscribed with bids 1.16x...
Finance Secretary Carlos G. Dominguez III has assured full support to the Department of Education’s (DepEd) efforts to ensure that Filipino learners continue their schooling despite the challenges brought by the coronavirus pandemic. MB file Dominguez said the DepEd's blended or hybrid learning...
The local stock market ended slightly weaker even after the government announced that the economy shrank by a lower rate in the last quarter. The main index shed 11.77 points or 0.17 percent to close at 6,851.84 with only the Property and Holding Firms counters remaining in the green. Volume...
The Bangko Sentral ng Pilipinas (BSP) said it has fully awarded its 28-day bills offered at P100 billion. The BSP securities auction received P162.80 billion tenders on Friday, lower than January 15’s P167.25 billion bids. The BSP bills fetched a lower average rate this week of 1.6362 percent...
The Philippines and Japan have reaffirmed their commitment to further build on their strong economic partnership, which includes plans to expand Japanese investments in the country following favorable developments on a tax reform measure. Newly designated Japan Ambassador to the Philippines...
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....
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) challenged the Climate Change Commission (CCC) to call for justice before the international community as the Philippines continues to bear the devastating impact of global warming. Even the Philippines is among the world’s lowest emitters of greenhouse gases,...
The Philippines’ fiscal response is on track to support the economy, but the government needs to address the stagnant consumer confidence that places a drag on the pace of the nation’s recovery, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said the country’s...
Finance Secretary Carlos G. Dominguez III said they are evaluating this year’s national budget to determine whether there is need to augment it to help the victims of the recent typhoons that ravaged Luzon and parts of the Visayas. “We are in the process of evaluating the damage of the series...
The Department of Finance (DOF) has extended the payment of all local taxes, fees and charges imposed by local government units (LGUs) until mid-December to ease the burden on individuals and businesses affected by the community quarantines. In a statement, Finance Secretary Carlos G. Dominguez III...
