Tag: #Benjamin E. Diokno
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Diokno plans six-year fiscal framework
Incoming Finance Secretary Benjamin E. Diokno wants to put in place a formal fiscal plan that will take control of government expenditures, set clear borrowing and revenue programs, as well as design policies to manage budget deficits in the next six-years.
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Diokno won’t cut spending to solve debt
The Marcos administration has no plan to reduce government spending to temper the nation’s ballooning debt load, the incoming chief of the Department of Finance (DOF) said on Monday, June 6.
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Diokno high hopes for ‘poverty guru’ Balisacan
President-elect Marcos’ chief economic manager has high hopes for incoming Socioeconomic Planning Arsenio M. Balisacan, describing the latter as the “poverty guru” of the next administration tasked to bring down the nation’s poverty rate to single-digit.
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New admin aims 'A' credit rating in 2 years
The Marcos administration can attain the Philippines’ first “A” credit rating status within two years as long as it has a credible and doable fiscal consolidation program, the incoming chief economic manager said.
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Diokno wants consensus on new, higher taxes
Incoming Finance Secretary Benjamin E. Diokno would seek for consensus among lawmakers and members of the executive department before pursuing the Marcos administration’s own fiscal consolidation plan.
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Diokno lukewarm to more tax reforms
Instead of new and higher taxes, the incoming chief of the Department of Finance (DOF) wants to focus mainly on the government’s tax administration during the first year of President-elect Ferdinand R. Marcos Jr.
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Inflation pressures from oil prices worry DOF
The deceleration in price increases last January was a welcome development, but the Department of Finance (DOF) warned that the economy should still keep a close watch on oil price movements.
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Fitch Solutions expects weaker peso this year
The research arm of credit rater Fitch Group has maintained its bearish stance on the Philippine peso, as it expects the local currency to even weaken as accommodative policy stances and a worsening current account weigh on the local currency.
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Gov’t repays P540-B loan to BSP
The national government will repay the full amount of its cash advances to the Bangko Sentral ng Pilipinas (BSP) ahead of the January maturity date, the Department of Finance (DOF) said.
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Economic team to brief foreign business leaders
President Duterte’s economic managers will meet this week with the foreign chambers of commerce to tackle the country’s recovery initiatives and present their investment priority sectors.
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Consumer price increases ease in Oct.
Consumer prices last month rose near the lower end of a government forecast owing to slower increase in food prices, the National Economic and Development Authority (NEDA) reported on Friday, Nov. 5.
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Benchmark interest rates move sideways
Benchmark interest rates moved sideways on Monday, Oct. 18, as yields for the three-month and one-year IOUs resumed their increase, while the six-month paper marginally dropped.
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No need to raise NG’s credit limit—BSP
The Bangko Sentral ng Pilipinas (BSP) is not inclined to increase the amount it lends to the national government on the back of the improving coronavirus situation in the country.
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Banks’ capital health improves in H1
Big banks in the country remained well-capitalized despite the prolonged pandemic-induced crisis, the Bangko Sentral ng Pilipinas (BSP) said.
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BSP badly needs proposed pro-consumer law – Diokno
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno could not emphasize more strongly how crucial the proposed bills on consumer protection are to ensure integrity and trust in the financial system.
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Banks’ NPL ratio rises to 4.49% in May
Banks’ non-performing loan (NPL) ratio worsened to a 13-year high of 4.49 percent in May versus 4.35 percent in the previous month and from 2.43 percent same time in 2020, based on Bangko Sentral ng Pilipinas (BSP) data.
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BSP weighs options for printing complex
The Bangko Sentral ng Pilipinas (BSP) is exploring options on what to do with its six-hectare Security Plant Complex (SPC), currently valued at P8 billion, in Quezon City once it has relocated its printing facility in New Clark City in Capas, Tarlac.
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BSP to release new commercial property price index this year
The central bank’s Commercial Property Price Index (CPPI) is expected to be launched within the year and it will allow regulators to better monitor banks’ financial and real estate exposures, according to Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno.