By MYRNA VELASCO The grinding task of ensuring ‘fair and transparent’ trading outcomes in the electricity reserve market has been tossed as a responsibility of the Philippine Electricity Market Corporation (PEMC), which is also the governance body of the Wholesale Electricity Spot...
The Department of Finance (DOF) reported an increase in the national government's budget deficit in May as government spending was much higher compared to the revenue collections. During the month, the Marcos administration’s fiscal deficit amounted to P174.9 billion, representing a substantial...
The Marcos administration has again turned to foreign creditors to seek financial support for the national government's budgetary needs. In a notice on Tuesday, May 7, the government announced its issuance of a dual-tranche benchmark-sized US dollar bond, marking the first offshore debt offering by...
Department of Finance Secretary Ralph G. Recto said that revenues during the first four months may hit around P1.4 trillion, which makes about 32 percent of the P4.3 trillion target this year. This translates to a 7 percent increase from the P1.3 trillion collected in the same period last year....
The Marcos administration’s budget deficit shrank in March this year as revenue growth outpaced public spending, the Bureau of the Treasury reported. The fiscal deficit of the national government for the third month of the year was P195.9 billion, down from P210.3 billion in March 2023. Based on...
The Marcos administration has raised its budget deficit ceilings for the next five years to provide the necessary financial leeway to support the government's projects and programs. Based on the latest revenue and spending outlook from the Development Budget Coordination Committee (DBCC), the...
The Marcos administration’s budget deficit expanded by half in February due to higher public spending and the slower growth in non-tax revenues, data from the Bureau of the Treasury showed. The national government's fiscal gap amounted to P164.7 billion last month, up 55 percent compared to the...
Ako Bicol Party-list Rep. Jil Bongalon (Ellson Quismorio/ MANILA BULLETIN) House Assistant Majority Leader and Ako Bicol Party-list Rep. Raul Angelo "Jil" Bongalon expressed his support for the proposed supplemental budget to address the...
The Marcos administration's budget surplus nearly doubled in the first month of the year due to strong revenues generated by the government's two main tax agencies. The Bureau of the Treasury reported that the national government posted a fiscal surplus of P88 billion last January, a significant...
The Marcos administration registered a reduction in the budget deficit last year, with revenues growing significantly faster than expenditures, data from the Bureau of the Treasury showed. In 2023, the national government's fiscal deficit stood at P1.512 trillion, a 6.3 percent decrease from the...
The Marcos administration's efforts toward fiscal consolidation may proceed at a slower pace, as economic managers are considering revising down their growth forecasts for the medium term, the Department of Budget and Management (DBM) said. Budget Secretary Amenah F. Pangandaman said the...
The Bureau of the Treasury reported that the national government's budget deficit declined in November largely due to decreased public spending. The Marcos administration’s fiscal gap amounted to P93.3 billion last month, a 25 percent reduction from the P123.9 billion recorded in the same...
