The Governance Commission for GOCCs (GCG) has shuttered a government-owned and/or -controlled corporation (GOCC) established by former President Ferdinand E. Marcos Sr. to design an airplane—but which failed to do so in its 50 years of existence. In a memorandum order dated May 7, the GCG gave...
The issuance of GBonds, a variant of retail treasury bonds (RTBs), through e-wallet GCash by the national government has been postponed from December last year to the second half of 2025. National Treasurer Sharon P. Almanza said during a financial literacy seminar held last week in Milan, Italy,...
A new World Bank loan aimed at strengthening the Philippines ' health system is facing delays as the Washington-based multilateral lender awaits a go-signal from the Department of Justice (DOJ). "The project will become effective upon obtaining the legal opinion from the DOJ and the adoption...
Maharlika Investment Corp. (MIC), which manages the Philippines ' first sovereign wealth fund, is eyeing at least three new investments before the year ends, aiming to bring total capital commitments to as much as ₱37 billion just two years into its establishment. In a telephone interview on...
With United States (US) President Donald Trump shutting down the Millennium Challenge Corp. (MCC), the threshold program that the US aid agency had been developing with the Philippines will no longer push through. But Finance Secretary Ralph G. Recto, the Marcos administration 's chief...
Filipinos will repay another World Bank loan until 2053, after the Marcos administration's chief economic manager signed the agreement for the Philippines first energy transition and climate resilience development policy loan (DPL). On behalf of the Philippine government, Finance Secretary Ralph G....
The Marcos administration's chief economic manager has signed another loan agreement with the World Bank, committing to repay the concessional financing until 2053. A World Bank document showed that Finance Secretary Ralph G. Recto, on behalf of the Philippine government, signed the loan agreement...
House Ways and Means Committee chair and Albay 2nd district Rep. Joey Salceda welcomed Department of Finance (DOF) Secretary Ralph Recto's withdrawal of the proposed tax increase on capital gains, which the lawmaker previously opposed. Salceda earlier objected to Recto's suggestion in the draft of...
Finance Secretary Ralph G. Recto The Department of Finance (DOF) has released new revenue regulations to simplify the process for private entities to avail of tax incentives, aiming to boost investments in education and human capital development. In a statement, Finance Secretary Ralph G. Recto...
The Commission on Elections (Comelec) has asked Mataas na Kahoy town Vice Mayor Jay Ilagan explain on Monday, April 7 his controversial remarks about rival Batangas gubernatorial candidate and former actress Vilma Santos-Recto. Mataas na Kahoy Vice Mayor Jay Ilagan (Photo from Jay Manalo Ilagan...
The Philippines will repay until 2053 two of the four loans greenlit by the Washington-based World Bank last month, worth a total of $950.54 million or about ₱54.6 billion, that will finance health services and transport connectivity in Mindanao and other poor provinces in the country. World...
Finance Secretary Ralph G. Recto The Philippines has officially launched a value-added tax (VAT) refund system for foreign tourists, aiming to significantly boost tourism revenue by encouraging increased spending on local goods. According to the Department of Finance (DOF), the refund scheme...
