President Marcos' chief economic manager emphasized the effectiveness of the government's interventions in stabilizing food prices and assured that efforts to manage risks will continue to keep prices low. In a statement, Finance Secretary Ralph G. Recto said that they will continue to enhance...
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 Department of Finance (DOF) said that President Marcos will soon sign the law imposing value-added tax (VAT) on foreign digital service providers, such as Netflix. During a Senate Finance subcommittee hearing on Tuesday, Aug. 27, Finance Secretary Ralph G. Recto said the DOF and the Bureau of...
Seven former secretaries of the Department of Finance (DOF) have expressed their support for utilizing excess funds from government-owned or controlled corporations (GOCCs) to finance important government projects. In a joint statement on Tuesday, Aug. 27, the former DOF chiefs said that...
House Speaker Martin Romualdez (left), Quezon 2nd district Rep. David "Jay-jay" Suarez (Facebook) House Deputy Speaker Quezon 2nd district Rep. David "Jay-jay" Suarez agrees with the Department of Finance (DOF) chief--Speaker Martin...
German financial services giant Deutsche Bank said that investment growth in the Philippines will likely remain constrained in the near term despite the upcoming easing of the central bank’s restrictive policies. In its Asia Macro Insights report published on Monday, Aug. 26, Deutsche Bank...
DOF Secretary Ralph Recto (left), Speaker Martin Romualdez (Facebook) House Speaker Martin Romualdez is President Marcos' cousin, partner, and "secret weapon". Batangas native Ralph Recto, the current Department of Finance (DOF) secretary, gave...
Senator Sherwin Gatchalian on Sunday, August 18 said it is imperative for lawmakers to scrutinize carefully the additional subsidy being asked by the Philippine Health Insurance Corp. (PhilHealth). PhilHealth, the senator noted, is asking an additional subsidy of P70-billion for 2025...
Department of Finance (DOF) Secretary Ralph Recto on Wednesday, August 14 said that the Maharlika Investment Fund (MIF) has not yet ventured into any investments and has only spent “very minimal” funds. Department of Finance (DOF) Secretary Ralph Recto (Senate PRIB Photo) ...
The Marcos administration secured its first credit rating upgrade from Japan-based Rating and Investment Information, Inc. (R&I), the Department of Finance (DOF) said. In a statement on Wednesday, Aug. 14, the DOF announced that the Japanese debt watcher raised the country’s credit...
The Department of Finance (DOF) is exploring the possibility of the Philippines joining the BRICS bloc, a coalition of emerging economies, including China and Russia, that seeks to counterbalance the influence of the United States and the West. During the Senate Finance Committee hearing on the...
