Borrowings of the Duterte administration inched up in April as the government tapped more foreign creditors to finance its coronavirus response, data from the Bureau of the Treasury showed. Gross borrowings of the national government increased by 3.5 percent to P271.95 billion in April this year...
The Department of Finance (DOF) said the exchange of information between the Department of Energy (DOE) and the government’s two main tax agencies will boost the implementation of the first-ever nationwide fuel marking program. Screen Shot 2021-05-28 at 10.31.20 AM Finance Secretary Carlos G....
Debt-watcher S&P Global’s affirmation of the Philippines’ investment grade status is a vote of confidence in the country’s medium-term growth prospects despite challenges posed by COVID-19, the government’s chief economic manager and central bank governor said. Finance Secretary Carlos...
The reforms initiated by the government to deepen the local capital markets will ensure the economy to emerge stronger and more resilient in the aftermath of the prolonged pandemic, the Duterte administration’s chief economic manager said. Finance Secretary Carlos Dominguez III said the proposed...
The Department of Finance (DOF) said the government should continue adapting fiscal reforms as tax collections begin to recover in the first three months of the year following the unprecedented spending last year due to the pandemic. Based on the latest DOF economic bulletin, Finance Undersecretary...
The Philippines has maintained its strong fiscal position with government assurances it can always afford to pay its foreign debt, the Duterte administration’s chief economic manager said. In a statement, Finance Secretary Carlos G. Dominguez III said that borrowing money has proven to be an...
The Philippines received the highest score among its peers in the Association of Southeast Asian Nations (ASEAN) in terms of improvement in cigarette tax policy, the Department of Finance (DOF) said. In a statement, the DOF said on Thursday, May 20, that the Philippines was among the countries...
The Duterte administration’s debt payments went up by more than half in the first three-months of the year owing to higher amortization, data from the Bureau of the Treasury revealed over the weekend. Based on the Treasury report, the total debt service of the national government reached P521.5...
Finance Secretary Carlos G. Dominguez III urged the Philippine Chamber of Commerce and Industry (PCCI) to continue organizing Sulong Pilipinas consultative forum beyond President Duterte’s term. At the close of the virtual Sulong Pilipinas 2021: Partners for...
The country’s recovery is not out of the woods just yet as risks posed by the coronavirus continue to threaten recent gains, the Department of Finance (DOF) said. In its latest economic bulletin on Friday, May 14, the DOF said that the pace of economic contraction in the first three-months of the...
The Department of Finance (DOF) has begun looking for funds for the inoculation program for young teens and for the probable need for a booster vaccination next year. Finance Secretary Carlos G. Dominguez III said on Thursday, May 13, that the government would need around P20 billion for...
The Department of Finance (DOF) said the government’s tax collections from cellular phone shipments increased by more than quarter in the first four-months of the year despite lower volumes. Preliminary data submitted by the Bureau of Customs to Finance Secretary Carlos G. Dominguez III revealed...
