The national government will increase its tax allocations to local government units (LGUs) by nearly 11 percent to a record ₱1.32 trillion for fiscal year (FY) 2027, ramping up state spending to insulate regional economies from persistent global energy shocks. Based on Local Budget Memorandum...
Senator Francis “Kiko” Pangilinan on Saturday condemned China 's sanctions against Department of National Defense (DND) Secretary Gilberto “Gibo” Teodoro Jr., calling the move a direct affront to the Philippine government and its sovereign decisions. In a statement, Pangilinan said...
The Organization for Economic Cooperation and Development (OECD) has flagged corruption as a major risk to Philippine infrastructure delivery, warning that the multibillion-peso flood-control corruption scandal show that current accountability safeguards remain insufficient to prevent the misuse of...
The Department of Foreign Affairs (DFA) has described China’s sanctions against Defense Secretary Gilberto “Gibo” Teodoro Jr. and his immediate family as an “unfriendly act” that could further strain relations between Manila and Beijing. In a statement issued late Thursday night, June 11,...
Renewed tensions in the Middle East and escalating shipping disruptions, which trigger severe oil price shocks, are straining consumers and global economic growth alike. Since we import the vast majority of our energy requirements, these tensions have unmasked the fragility of the country’s power...
Amid a prolonged global oil crisis, the Philippines is poised to secure fresh grant and loan financing from bilateral as well as multilateral partners to support power-sector reforms and the transition to more renewable energy (RE) sources. United States (US) aid agency Millennium Challenge Corp....
With the aim of generating quality jobs for Filipinos, the Philippine government is exploring ways to deepen its bilateral cooperation with Sweden in the energy, manufacturing, and digitalization sectors. During a high-level courtesy meeting with a visiting Swedish delegation, Department of Finance...
Government preparations for the possible implementation of the proposed global top-up tax are ongoing, as large multinational enterprises (MNEs) have expressed a preference to settle the 15 percent global minimum tax in the Philippines rather than comply with “unfamiliar rules” abroad. Bureau...
Government agencies have so far saved a total of ₱2.9 billion by purchasing common-use supplies and equipment (CSE) and big-ticket items through the Department of Budget and Management’s (DBM) virtual store (VS) and eMarketplace, the government’s digital procurement platforms. According to...
The Mindanao grid is expected to return to normal conditions soon after being placed under yellow alert on Wednesday, June 10, following power supply disruptions partly caused by the recent 7.8-magnitude earthquake. Energy Secretary Sharon Garin said roughly 800 megawatts (MW) of capacity initially...
The World Bank has approved a six-month extension of its $300-million loan for a delayed project aimed at strengthening Metro Manila’s preparedness for “The Big One” earthquake, after the Philippine government sought more time to implement key activities that have yet to begin. In a...
The Department of Budget and Management (DBM) plans to reintroduce laptops to the government’s digital procurement platform this month, following the suspension triggered by the high-profile pricing and specification scandal involving public school equipment. Procurement Service of the DBM...
