The Department of Finance (DOF) said on Monday, Nov. 13, that the revisions introduced to the implementing rules and regulations (IRR) for the Maharlika Investment Fund (MIF) act are within the bounds of the law. In a statement, the DOF affirmed the legality of the newly revised IRR for the...
More government spending seen in the third quarter will help pick up the six percent to seven target economic growth by year-end, Department of Finance Secretary Benjamin E. Diokno said. During a forum with Reuters, Diokno pointed out several indicators that will help boost economic growth by...
Finance Secretary Benjamin E. Diokno, the government’s chief economic manager, expects the Philippine economy to grow by close to six percent this year. The Philippine Statistics Authority reported on Thursday a better-than-expected gross domestic product (GDP) growth of 5.9 percent in the third...
The Department of Finance (DOF) has reported that the country's debt and fiscal indicators improved in the third quarter owing to the robust economic performance. As of September 2023, the government's debt-to-gross domestic product (GDP) ratio, a measure of the country's debt relative to its...
The pre-need industry’s net income surged to P11.21 billion in the first half of the year amid an increase in the number of memorial plans sold, the Insurance Commission (IC) said. According to IC data, this was a 9.45 percent increase collected from January to June last year. The commission said...
The Department of Finance (DOF) said the job quality for Filipinos is steadily improving, with the country's underemployment rate dropping below its pre-pandemic level. In a statement, Finance Secretary Benjamin E. Diokno said the underemployment rate of 10.7 percent recorded in September was the...
Finance Secretary Benjamin E. Diokno is urging the National Power Corp. (NPC) to improve access to electricity in remote communities. During the NPC's 87th Anniversary, Diokno reminded the company of its mission to provide electricity to remote areas and islands in the Philippines and assured them...
The Department of Finance (DOF) said the government is looking to secure funding for P83 billion Mindanao Railway project in the first quarter next year. This came after the country backed out from a financing deal with China to fund the railway project. Further, Finance Secretary Benjamin E....
The government is looking at India and Japan for funding the three railways projects formerly funded by China, the Department of Finance (DOF) said. Finance Secretary Benjamin E. Diokno said Japan and India are being eyed to support the Subic-Clark Railway, Philippine National Railways (PNR) South...
Finance Secretary Benjamin E. Diokno believes that borrowing costs in the country have hit a ceiling. On the sidelines of the Retail Dollar Bond 2 listing on the Philippine Dealing and Exchange Board on Monday, Nov. 6, Diokno stated that there is no rationale to warrant a further increase in...
The government’s plan to raise $1 billion through Sharia-compliant or Sukuk bonds will still push through by end-November despite the Israel-Hamas conflict. Finance Secretary Benjamin E. Diokno told reporters in an interview on Monday, Nov. 6, that the government is targeting to issue the...
The Department of Finance (DOF) has announced that the Bureau of Internal Revenue (BIR) and the Bureau of Customs will further intensify their administrative measures to collect more taxes and duties. In a statement, Finance Secretary Benjamin E. Diokno said the government's two main tax agencies...
