The Department of Finance (DOF) said the Philippine economy is prepared to withstand any potential negative impacts of this year's El Niño phenomenon. In a statement, the DOF said that the national government's 2024 gross domestic product (GDP) target of 6.5 percent to 7.5 percent has...
The Department of Finance (DOF) secured concessional financing for big-ticket infrastructure projects under President Marcos’ Build Better More Program as well as grants for various development projects to support the country’s rapid growth. Since the beginning of the Marcos administration, the...
The Department of Finance (DOF) assured that it will continue with its efforts to help local government units (LGUs) in fully taking over government functions and services. In a statement, the DOF said there will be a study on operationalizing full devolution, which will help delineate the...
The Department of Finance (DOF) is looking into a proposal setting a debt ceiling that would determine whether the national government should increase or decrease its borrowing. Finance Secretary Benjamin E. Diokno said the DOF will consider the International Monetary Fund's (IMF) proposal to adopt...
The Department of Finance (DOF) said micro, small, and medium enterprises (MSMEs) have now more options to raise funds due to the Securities and Exchange Commission's (SEC) intensified initiatives to facilitate accessible funding for small businesses. In a statement, Finance Secretary Benjamin E....
The Department of Finance (DOF) said the national government's borrowing from local and foreign investors through the sale of debt papers demonstrated investor confidence in the Marcos administration. In a statement on Monday, Dec. 18, the DOF boasted President Marcos' multi-billion peso domestic...
After a seven-year hiatus prompted by human rights concerns, the Washington-led Millennium Challenge Corp. (MCC) has decided to resume providing grants to the Philippines. In a statement, Finance Secretary Benjamin E. Diokno said the US foreign aid agency that gives grant to developing countries...
The Development Budget Coordination Committee (DBCC) has increased its government revenue projection for this year due to stronger-than-expected collections and higher income from the customs and treasury bureaus. The DBCC, an interagency body responsible for setting the government’s...
The Philippine government has successfully locked in almost all of its existing loans with the World Bank, leading to savings of millions of dollars in taxpayer money, the Department of Finance (DOF) has announced. Finance Secretary Benjamin E. Diokno said the Bureau of the Treasury has...
The Department of Finance (DOF) is expecting a rise in foreign direct investments from Brunei Darussalam after the approval of an agreement aimed at bolstering their cooperation on tax matters. On Thursday, Dec. 13, the DOF welcomed the Senate's concurrent approval of the agreement between the...
The Department of Finance (DOF) is calling on local government units (LGUs) to update their real property taxation (RPT) to alleviate financial challenges that hinder their capacity to deliver optimal services to their constituents. In a statement on Wednesday, Dec. 13, Finance Secretary Benjamin...
The government's chief economic manager said the Philippines is on the brink of realizing President Marcos' goal of slashing the unemployment rate to a low single digit by the end of his term. In a statement, Finance Secretary Benjamin E. Diokno said that the President's aim to lower the...
