Finance Secretary Carlos G. Dominguez III has commended former Social Security System (SSS) President and Chief Executive Officer Aurora Ignacio for her efforts in accelerating the pension fund’s digitalization processes for the benefit of its members. According to Dominguez, Ignacio spearheaded...
The government would need to borrow additional money from creditors should taxes on petroleum products are suspended, the Department of Finance (DOF) warned. Finance Secretary Carlos G. Dominguez III said suspending fuel excise taxes will only provide temporary and minimal relief to consumers, but...
The National Economic and Development Authority (NEDA) is proposing a four-day workweek to lower energy consumption amid skyrocketing pump prices. During President Duterte’s Talk to the People aired on Wednesday, March 16, Socioeconomic Planning Secretary Karl Kendrick T. Chua said limiting the...
The Fiscal Incentives Review Board (FIRB) has approved the tax incentives for a P1.5-billion Cebu-based roll on roll off (RoRo) operator that aims to help modernize the shipping industry and increase competition. Finance Secretary Carlos G. Dominguez III said Tuesday, March 15, that the FIRB...
Insurance claims related to the pandemic reached P16.71 billion in the past two years, with life coverages accounting for more than half of the payouts, the Department of Finance (DOF) said. In a report to Finance Secretary Carlos G. Dominguez III, the Insurance Commission said 23 percent or P3.89...
The Department of Finance (DOF) announced the launch of a new project that aims to assist six climate-vulnerable cities in adapting to, and mitigating the effects of, climate change. On Thursday, March 10, the DOF launched the $15 million, or P750 million, five-year Climate Resilient Cities (CRC)...
The Department of Finance (DOF) said the return of information technology-business process management (IT-BPM) employees to on-site work would benefit local micro, small, and medium enterprises (MSMEs). In a statement on Wednesday, March 9, Finance Secretary Carlos G. Dominguez III defended the...
The Department of Finance (DOF) said the national government remains in good cash position despite recent failed domestic borrowings owing to high interest rates. Finance Secretary Carlos G. Dominguez III said Tuesday, March 8, that cash flow is not yet a problem for the government owing to P457.8...
The government’s top economic managers are crafting measures to cushion the impact of Ukraine-Russia war on the domestic economy, particularly on the prices of basic goods and commodities. While Finance Secretary Carlos G. Dominguez III believes the impact of the geopolitical crisis in Eastern...
The national government incurred more loans in January, bringing its debt above the P12-trillion mark for the first time, as the Philippines bogged down by prolonged Covid-19 pandemic. The Bureau of Treasury reported on Friday, March 4, that the government’s outstanding debt stood at P12.03...
The Department of Finance (DOF) vowed the government’s quick return to fiscal consolidation following the massive spike in budget deficit and debt ratios due to the pandemic-induced recession. At the 2022 Bureau of the Internal Revenue (BIR) National Tax Campaign Kickoff on Thursday, March 3,...
The Insurance Commission (IC) has placed another pre-need firm under conservatorship due to trust fund deficiencies, the Department of Finance (DOF) said on Thursday, March 3. In a statement released by the DOF, the IC said the agency ordered Eternal Plans Inc. (EPI) to be placed under...
