The Department of Finance (DOF) stated that the country was only getting less than half of the economic costs it incurred from allowing Philippine offshore gaming operations (POGOs). Finance Secretary Ralph G. Recto said that the total economic benefits from POGOs amounted to P166.49 billion every...
President Marcos’ chief economic manager stated that achieving single-digit poverty incidence among Filipinos may happen sooner than expected. Finance Secretary Ralph G. Recto said last year's poverty rate, which better the target, was "very encouraging," given that it is also lower than...
Finance Secretary Ralph G. Recto has expressed support for the Department of Trade and Industry’s (DTI) directive to suspend the online selling of vape products temporarily. “I support the DTI directive. Their job is to regulate the sale of vape products and to ensure minors do not have access...
By XANDER DAVE CEBALLOS A college diploma is not just a piece of paper - it could potentially add up to seven years to your life expectancy. Finance Secretary Ralph G. Recto has said that higher education enhances longevity and overall well-being in addition to its financial rewards. During a...
Albay 2nd district Rep. Joey Salceda (left) and President Ferdinand "Bongbong" Marcos Jr. (Facebook) The proposed total ban on Philippine Offshore Gaming Operators (POGOs)--should it push through--will flush down the drain President Marcos'...
Finance Secretary Ralph G. Recto said that the country’s hosting of the Loss and Damage Fund (LDF) board is an opportunity to access more climate finance and investments. “We were chosen because of our strong commitment and concrete climate actions on the ground, and we thank the President for...
The Department of Finance (DOF) said the decrease in the unemployment rate in May shows that the country is making progress towards its goal of becoming an upper-middle-income country by 2025. In a statement, Finance Secretary Ralph G. Recto said the year-on-year decrease in the number of...
After six months in office, President Marcos' chief economic manager continued to assert that there was no need for new tax proposals to enhance the government's revenue collection. Finance Secretary Ralph G. Recto reiterated his stance at a forum with business journalists on Monday, July 8,...
Finance Secretary Ralph G. Recto said that inflation may have already reached its highest point, projecting a gradual decline in the rate of food price increases in the coming months. Recto stated that the continued moderation in inflation may lead the Bangko Sentral ng Pilipinas (BSP) to consider...
Finance Secretary Ralph G. Recto said that inflation is expected to remain within the target band of two percent to four percent this year following its contraction in June. Recto said that implementing whole-of-government interventions, such as cash grants and tariff rate cuts, will ensure that...
The Department of Finance (DOF) said that Sumitomo Mitsui Banking Corp. (SMBC) may collaborate with the Marcos administration on its borrowing activities. In a recent Facebook post, the DOF disclosed that Finance Secretary Ralph G. Recto met with SMBC and SMBC Nikko senior executives to explore...
The Department of Finance (DOF) said that the Philippines possesses all the elements of a tiger economy, making the country the most strategic safe haven for investors. Finance Secretary Ralph G. Recto said the Philippines is booming, asserting itself as an economic superstar in Southeast Asia with...
