Elevated inflation, sluggish state spending, and rising import costs may have dragged Philippine gross domestic product (GDP) growth down to 2.5 percent in the second quarter, slowing further from an already five-year low of 2.8 percent in the previous quarter. Frankfurt-based Deutsche Bank AG...
Quezon City has institutionalized long-term support for cooperatives through a comprehensive Cooperative Code, making it the first local government unit (LGU) in Metro Manila to adopt a unified policy framework for cooperative development. Through Ordinance No. SP-3526, S-2026, or the Quezon City...
Philippine economic growth likely picked up above the three-percent level in the second quarter, mainly on improved spending on public goods and services, with most private-sector economists expecting the economy to perform better than in the previous quarter despite lingering headwinds from...
Malacañang said the government is considering possible reforms in excise and health taxes to offset the P66 billion forgone revenues from President Marcos ' proposed tax relief package. Palace Press Officer and Communications Undersecretary Claire Castro said the Department of Finance (DOF)...
The national government’s outstanding debt breached the ₱19-trillion mark for the first time, surpassing its full-year fiscal target six months ahead of schedule following a sharp acceleration in local and foreign borrowing. The Bureau of the Treasury reported on Thursday, July 30, that total...
Quezon City has become one of the first local government units (LGUs) in the country to add a third gender option to its online business permit system, making the process more inclusive for entrepreneurs. The enhancement was implemented through the city 's upgraded QC Biz Easy platform,...
Cities with fully automated business permits and licensing systems (BPLS) posted stronger local business tax (LBT) revenue growth, with only 54 of the 138 Philippine cities studied having fully automated their BPLS, according to state-run policy think tank Philippine Institute for Development...
State-run Government Service Insurance System (GSIS) has disbursed ₱27.29 billion in microloans to 463,608 active state workers through its expanded credit facility, offering civil servants an alternative to high-cost informal lenders. The total reflects loan issuances from Oct. 24, 2024, through...
The Government Service Insurance System (GSIS) signed an agreement with Maxicare Healthcare Corp. to launch G-HEALTH, a program offering zero-interest financing for health and hospitalization insurance to government employees. In a statement, GSIS said the initiative allows public sector workers...
President Marcos has defended his administration 's handling of the economic fallout from the conflict in the Middle East, saying the government responded quickly to protect Filipinos and mitigate the crisis ' effects. In his fifth State of the Nation Address (SONA) on Monday, July 27,...
Malacañang disclosed that the P22.7-billion savings of the government will be used to fund programs for vulnerable sectors affected by the Middle East conflict. According to the Department of Budget and Management (DBM), the government has P22.79 billion in savings, Palace Press Officer and...
State-run Government Service Insurance System (GSIS) has allocated ₱520.08 million in emergency funding to support 21,153 members and pensioners affected by public health and agricultural crises in La Union and Negros Occidental. Under the facility, GSIS said that eligible active workers and...
