Business NEWS

High debt load and low revenue collection will become bottlenecks to the country’s return to a rapid and sustainable economic growth path, the Department of Finance (DOF) said.

With the forthcoming change in leadership, the Department of Finance (DOF) said the government should continue its reforms in the military and uniformed personnel (MUP) pension scheme to ensure the county’s fiscal stability.

Finance Secretary Carlos G. Dominguez III said the administration of presumptive president Ferdinand “Bongbong” R. Marcos Jr. needs to increase government revenues while eliminating wasteful expenditures to get ahead of the country’s debt problem.

The Department of Finance (DOF) has begun the discussion with the team of presidential frontrunner Ferdinand “Bongbong” R. Marcos Jr. for a smooth transition of power.

State-run National Food Authority (NFA) managed to slash its losses last year following its mandated reforms under the the rice tariffication law (RTL), the Department of Finance (DOF) said.

The Export Import Bank of Korea-Economic Development and Cooperation Fund (KEXIM-EDCF) has sealed a loan to the Philippines to finance the engineering services for the Panay-Guimaras-Negros Island bridges project.

Japan’s financial support to the Philippines during the Duterte administration’s nation-building programs surpassed the amount committed by former Japanese Prime Minister Shinzo Abe five-years ago, the Department of Finance (DOF) said.

Beltran named first PTA president

The Department of Finance (DOF) wants large foreign digital service providers (DSP) to remit to the Bureau of Internal Revenue (BIR) the value-added tax (VAT) in transactions that go through their platforms.

A demographic partnership between Manila and Tokyo has become more feasible following the enactment of economic liberalization measures that opened wide the Philippines to foreign investors, the Department of Finance (DOF) said.

With his term ending in two months, Finance Secretary Carlos G. Dominguez III boasted one “proud tradition” in the Department of Finance (DOF): policy continuity despite changes in political leadership.

Two months before his term ends, Finance Secretary Carlos G. Dominguez III thanked on Friday, April 29, his fellow workers in the Department of Finance (DOF) for their “excellence, passion and commitment.”

Finance Secretary Carlos G. Dominguez III said the robust growth of the Philippines’ now fully reopened economy, buttressed by reforms that “widen the horizon for investments,” makes it the best place in the region to do business.

The Japanese government has extended another loan to the Philippines for the Covid-19 recovery programs, the Department of Finance (DOF) announced on Tuesday, April 26.

The Department of Finance (DOF) has endorsed the Subic Bay Regional Development Master Plan that will serve as blueprint to maximize the economic development potentials of the former US naval base and its surrounding areas.

The Duterte administration has sealed 22 loan agreements with the World Bank Group (WBG) in the past five-years, bulk of which were used to help finance to country’s war chest against the Covid-19 pandemic, the Department of Finance (DOF) reported.

US firm Cerberus Frontier has completed the acquisition of the former Hanjin shipyard at the Subic Bay Freeport in Zambales, a “win-win” takeover especially for the Filipino people, according to the Department of Finance (DOF).

The ongoing geopolitical conflict in Eastern Europe would further complicate the lingering effects of the African Swine Fever (ASF) on consumer prices, the Department of Finance (DOF) said.