BAGUIO CITY – Mayor Benjamin Magalong supports Senate President Chiz Escudero’s plan to file a bill that would prohibit relatives of public officials up to the fourth degree from entering into government contracts. Escudero proposed the law to eliminate the conflict of interest that persists in...
The national government’s outstanding debt breached the ₱17-trillion mark in June, reaching a fresh record high of ₱17.27 trillion. According to the latest data reported by the Bureau of the Treasury (BTr), the total debt stock bloated by 2.1 percent or ₱350 billion from the end-May figure....
Global trade jitters and the impending expiry of US tariff pauses failed to deter investors, as the Marcos administration’s debt sales saw robust demand, allowing the Bureau of the Treasury to raise ₱28.4 billion and continue its four-week trend of lower borrowing costs. During the sale of...
Despite the single-digit drop in domestic borrowings, the Marcos administration’s foreign debt rose by more than 50 percent in the first six months of the year, leading to a higher gross borrowing of ₱1.59 trillion from ₱1.57 trillion a year earlier. According to the Bureau of the Treasury...
A rare remittance from the Presidential Commission on Good Government (PCGG)—reportedly proceeds from the sale of a Claude Monet painting considered as ill-gotten wealth by the family of strongman Ferdinand Marcos Sr.—has helped triple the Marcos Jr. administration’s privatization revenues in...
To clear up allegations surrounding its financial status following a controversial investment, the Government Service Insurance System (GSIS) reported that its net income in the first six months of 2025 jumped by more than a quarter to ₱77 billion from ₱61 billion in the same period in 2024. In...
The United States will be providing about P13.8 million funding intended to help the Philippines in its response efforts amid the severe rains and flooding caused by consecutive storms and the enhanced southwest monsoon. The US Embassy in Manila announced on Friday, July 25, that the US government...
Suspended Government Service Insurance System (GSIS) President and General Manager (PGM) Jose Arnulfo “Wick” Veloso has issued a formal statement, arguing that the preventive suspension ordered against him, along with six other executives, was merely based on bare allegations contained in an...
The Department of Public Works and Highways (DPWH) on Thursday, July 24, expressed openness to a review of how it utilized funds allocated for flood control projects, amid calls for transparency and accountability in the implementation of government infrastructure programs. DPWH Secretary Manuel...
The Government Service Insurance System (GSIS) and the Social Security System (SSS) are ramping up efforts to provide swift financial relief to members and pensioners affected by recent calamities Both agencies have announced more accessible and streamlined loan programs. GSIS has opened emergency...
Senator Sherwin Gatchalian on Wednesday, July 23 called on the government to protect Government Service Insurance System (GSIS) members’ interests at all cost in light of authorities’ investigation into its stock investment decisions. Gatchalian is referring to the Department of Finance (DOF)...
The Marcos administration raised ₱20 billion from long-term debt sales, but at higher interest rates, as investors anticipate an upcoming retail treasury bond offering that could impact market demand. During the sale of three-year treasury bonds (T-bonds) on Tuesday, July 22, the Bureau of the...
