Tag: #department of finance
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High debt, low revenue bottlenecks to growth
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.
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DOF pushes military pension reform
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.
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DOF to Marcos: More revenues, no wasteful spending
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.
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DOF begins transition to Marcos admin
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.
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Rice reforms cut NFA losses in 2021
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.
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PH seals $56.6-M Korean loan for bridges
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.
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Japan’s support to PH exceeds target
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.
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DOF to collect VAT from foreign DSPs
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.
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DOF prods demographic partnership with Japan
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.
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Dominguez boasts policy continuity in DOF
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.
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Dominguez: DOF prepares PH for new economy
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.”
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Dominguez courts Japanese to expand in PH
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.
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Japan extends P12-B loan to PH
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.
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DOF endorses new Subic Bay master plan
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.
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Duterte administration obtains 22 WB loans amounting to $7.5 B
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.
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Cerberus completes Hanjin shipyard takeover
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).
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DOF expects heightened inflationary pressures
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.