President Marcos’ chief economic manager expects the country’s economy would grow this year at a much slower pace than the inter-agency Development Budget Coordination Committee’s (DBCC) target. In a briefing on Wednesday, July 6, Finance Secretary Benjamin E. Diokno said the economy, as...
Finance Secretary Benjamin E. Diokno said the proposed Bulacan Airport City Special Economic Zone and Freeport had carried substantial fiscal risks to the government. In an interview with ANC on Wednesday, July 6, Diokno affirmed former Finance Secretary Carlos G. Dominguez III’s call to the...
The Department of Finance (DOF) said on Wednesday, July 6, that the government wants to accelerate the revival of the local mining industry to support the country’s economic recovery. After the industry was sidelined in the past couple years due to environmental concerns, Finance Secretary...
Finance Secretary Benjamin E. Diokno clarified that President Marcos is not disputing the Philippine Statistics Authority’s (PSA) June inflation report, saying the chief executive only misinterpreted the data given to him. In a televised interview over ANC on Wednesday, July 6, Diokno explained...
The Department of Finance (DOF) maintained that the government should continue the more targeted approach of fuel subsidy as it warns against bowing to pressure to suspend excise taxes on petroleum. As the incoming Marcos administration is coming under pressure from several parties to implement a...
President Rodrigo Duterte has conferred the Order of Lakandula with the Rank of Grand Cross (Bayani) to outgoing Finance Secretary Carlos G. Dominguez III for his exemplary service to the nation. The Order of Lakandula recognized Dominguez’s help and contribution to the success of President...
Finance Secretary Carlos G. Dominguez III said the achievements of the Intergovernmental Relations Body (IGRB) would help guide the new administration to achieve the country’s long-standing goal of attaining lasting peace and prosperity in Mindanao. During the presentation of its second progress...
Less than two weeks before President Rodrigo Duterte’s term ends, the government sealed the Asian Development Bank’s (ADB) biggest infrastructure loan package that would connect Metro Manila and Calamba in Laguna through a railway system. At a signing ceremony witnessed by President Duterte...
The Department of Finance (DOF) has clarified that there is no double taxation in the imposition of value-added tax (VAT) in the electric power sector. Reacting to recent statements made by the Energy Regulatory Commission (ERC), Finance Secretary Carlos G. Dominguez III explained that the Electric...
Senator Sonny Angara said he is leaving it up to the upcoming members of the majority to decide who would be the next Senate leader, but is vouching for Senate Majority Leader Juan Miguel “Migz” Zubiri to be the next Senate president. Angara issued the statement in an interview saying that...
The Fiscal Incentives Review Board (FIRB) revealed that the Philippine Economic Zone Authority (PEZA) is not tracking the inflow of actual investments made by its registered business enterprises (RBEs). In a statement, Finance Assistant Secretary and FIRB Secretariat Head Juvy Danofrata said PEZA...
The Government of the People’s Republic of China will finance the construction of a P19.32 billion two-way, four-lane bridge connecting Davao City and the Island Garden City of Samal in Mindanao, the Department of Finance (DOF) announced. In a statement on Tuesday, June 14, the DOF said the...
