The 2.2-hectare Mile Long property in Makati City will likely be up for grabs among three interested developers from the private sector, whose deep pockets would help fill government coffers sans new taxes during the Marcos Jr. administration, as promised by Finance Secretary Ralph G. Recto. The...
The Department of Finance (DOF) and the Bureau of Customs (BOC) vowed to enforce the new law designed to combat smuggling and hoarding of agricultural products, ensuring a stable food supply for Filipinos. Finance Secretary Ralph G. Recto said that the recently signed Republic Act No. 12022,...
The Senate is ready to receive the copy of the version of the proposed P6.352-trillion national budget for 2025 which the House of Representatives has approved. Senator Grace Poe, chairperson of the Senate Committee on Finance, made this assurance on Thursday, Sept. 26, after the House...
Philippine debt levels as a share to the economy fell across-the-board in the first half of 2024, according to the latest data from the Washington-based Institute of International Finance (IIF), underscoring the "double-edged sword" wrought by the previously elevated interest rate environment. The...
President Marcos' chief economic manager expects further appreciation of the peso against the US dollar, driven by increased remittance inflows during the upcoming holiday season. In a briefing on Tuesday, Sept. 24, Finance Secretary Ralph G. Recto explained that the local currency typically...
This year's US presidential election and the Philippines' midterm polls next year, among other geopolitical and climate events, pose risks to near-term economic outlook here and abroad, according to the Washington-based Institute of International Finance (IIF). "Political uncertainties and policy...
The Department of Finance (DOF) has assured Singaporean investors that the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) law will simplify doing business in the Philippines, streamline processes and reduce red tape....
In the first five years of its implementation, fuel marking added to government coffers a total of P988.8 billion in tax revenues, inching closer to the P1-trillion mark with one more year before the program's contract ends. The latest data obtained by Manila Bulletin on Tuesday, Sept. 17, showed...
The plenary hall of the House of Representatives (Dexter Barro II/MANILA BULLETIN) The House of Representatives has terminated the 2025 budget debates for the Department of Finance (DOF), National Economic and Development Authority (NEDA), and the...
San Miguel Corp.’s New NAIA Infra Corp. (NNIC) has remitted its upfront payment for the Ninoy Aquino International Airport (NAIA) public-private partnership (PPP) project, the Department of Finance (DOF) said. In a statement, Finance Secretary Ralph G. Recto said the P30 billion payment, made...
The International Finance Corp. (IFC) will assist the Philippine government in rolling out five big-ticket public-private partnership (PPP) infrastructure projects, worth a total of P62 billion. The private-sector arm of the World Bank Group recently disclosed it will provide transaction advisory...
The Asian Development Bank's (ADB) new Country Partnership Strategy (CPS) to help support the Philippines in its goal to lift an additional eight million Filipinos out of poverty by the end of President Marcos Jr.'s term, the Department of Finance (DOF) said. “It was the Marcos, Jr....
