The Duterte administration will revisit its medium-term macroeconomic targets and fiscal program next week following a worse-than-expected economic performance in the first-quarter. In a media advisory released by the Department of Budget and Management (DBM), it said the inter-agency Development...
Finance Secretary Carlos G. Dominguez III called for the just and equitable distribution of coronavirus vaccines to ensure the access of lower-income and developing countries to life-saving medical interventions amid the prolonged pandemic. At the recent 54th Annual Meeting of the Asian...
The Department of Finance (DOF) expects non-food inflation to continue inching up in the coming months due to base effects from record low prices of petroleum products last year. In the latest DOF economic bulletin, Finance Undersecretary Gil S. Beltran noted that non-food price inflation went up...
The Asian Development Bank (ADB) is urged to substantially expand its loan portfolio in the next five years to support the swift recovery of its developing member-countries from the global economic shock of the pandemic. During the ADB Governors’ Seminar, Finance Secretary Carlos G. Dominguez III...
The unprecedented borrowings since the government began community quarantine in March last year have added P2.3 trillion to the public debt, data from the Bureau of the Treasury showed on Monday, May 3. The total outstanding debt of the national government accelerated by 27 percent to P10.77...
The government’s chief finance manager vowed work until the last minute of President Duterte’s term in pushing the congressional passage of key reform measures that will support the nation’s strong and sustainable recovery from the pandemic-induced recession. Finance Secretary Carlos G....
The Anti-Red Tape Authority (ARTA) and four other key agencies of the government are set to issue a joint memorandum circular (JMC) that will cut down regulatory requirements for local coronavirus disease (COVID-19) vaccine manufacturers. ARTA ARTA made the statement following President Duterte's...
The Insurance Commission (IC) has processed all monetary claims as well as license and product applications last year to meet the growing needs of the insurance industry, the Department of Finance (DOF) said. In a report submitted to Finance Secretary Carlos G. Dominguez III, IC said...
The Duterte administration has already secured $18.4 billion worth of foreign loans, equivalent to about P886.1 billion, to support the country’s coronavirus response, the Department of Finance (DOF) said. Of that total amount, Finance...
Enforcement of local ordinances that allow the collection of illegal fees and taxes for the transport of goods is prohibited, an inter-agency directive reiterated. Government agencies led by Anti-Red Tape Authority (ARTA), Department of the Interior and Local Government (DILG), and Department of...
The national government’s budget deficit more than doubled last month amid lower revenues and higher spending, data from the Bureau of the Treasury showed. The government incurred a fiscal gap of P191.4 billion in March, higher by 167 percent compared with P71.6 billion in the same month last...
The temporary reduction in pork import tariffs will slash the government’s revenue haul this year, but the Department of Finance (DOF) said these losses are necessary to ease the burden on consumers already reeling from the economic impact of the pandemic. Finance Secretary Carlos G. Dominguez...
