With the Philippines being flagged as one of the developing countries that spent more than 10 percent of its income on debt repayments in 2023, the Department of Finance (DOF) argued that the fiscal strain stemming from mounting debt payments remains under control. “We’re managing it,” DOF...
DAVAO CITY – Pwersa ng Pilipinong Pandagat party-list Rep. Harold James Duterte filed House Bill No. 2065 on Thursday, July 17, proposing the creation of a Department of Fisheries and Aquatic Resources (DFAR) to help improve the country’s fisheries sector. In its explanatory note, the proposed...
Driven by rising demand and tightening supply, oil prices are expected to rise again next week. Based on the four-day Mean of Platts Singapore (MOPS) and the forex average, gasoline could go up somewhere between ₱0.30 and ₱0.50 per liter, while diesel may increase by ₱0.70 to ₱0.90 per...
After receiving zero subsidies this year, the Philippine Health Insurance Corporation (PhillHealth) will be getting ₱53.3 billion in government support next year, according to President Ferdinand Marcos Jr.’s chief economic manager. Department of Finance (DOF) Secretary Ralph G. Recto told...
The Department of Energy (DOE) has released its list of qualified bidders for the fourth round of the Green Energy Auction (GEA-4), which seeks bids for onshore wind, solar power, and energy storage system (ESS) projects. According to a filing on the DOE website, a virtual pre-bid conference for...
The Department of Finance (DOF) has clarified that a new law will not tax the savings of ordinary Filipinos, as it only standardizes the tax rate on interest income, eliminating the unfair preferential treatment previously enjoyed by the wealthy. Finance Secretary Ralph G. Recto said the passage of...
Cement manufacturer Taiheiyo Cement Philippines Inc. (TCPI) said it is on track to open its ₱3.72-billion Batangas cement terminal by early 2026, which is expected to meet the growing demand for high-quality cement in Luzon. In a statement released on Thursday, July 17, the Department of Trade...
Finance Secretary Ralph G. Recto said slapping the online gaming industry with a 10-percent tax could generate at least an additional ₱20 billion in revenues annually. Recto told reporters during an informal press chat that taxing each gamer per bet is more challenging to implement. He said it...
While the Philippine economy has already been recovering from its deep recession during the height of the Covid-19 pandemic, hitting its growth potential of six percent would be challenging given the global uncertainties spilling over domestically, according to the Department of Finance (DOF)....
A one-percent excise tax on remittances under the proposed "One Big Beautiful Bill" in the United States (US) could reduce Filipino remittances by $1.9 billion, or approximately ₱108 billion, in 2026, the Department of Finance (DOF) estimated. Finance Undersecretary and Chief Economist Domini...
The Department of Energy (DOE) said there is significant interest from private port developers in establishing facilities for incoming offshore wind (OSW) projects under the fifth round of the Green Energy Auction (GEA-5). Energy Assistant Secretary Mylene Capongcol told reporters that the success...
The Economy and Development (ED) Council has approved the North-South Commuter Railway (NSCR) operations and maintenance project, valued at around ₱229.3 billion, during its second meeting on Tuesday, July 15. Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio M....
