The Philippines’ debt as a share of economic output is expected to remain elevated above 60 percent of gross domestic product (GDP) this year as the government ramps up borrowings to support its response to the national energy emergency amid the prolonged war in the Middle East. Based on the...
The national government’s (NG) usual April budget surplus shrank by more than half this year after the annual income tax returns (AITRs) filing and payment deadline was extended by one month due to the national energy emergency, although revenues were partly supported by millions of pesos in...
State-run Maharlika Investment Corp. (MIC), which manages the country’s first sovereign wealth fund (SWF), grew its total comprehensive income by 2.3 percent to ₱2.74 billion last year from ₱2.68 billion in 2024 as business income rose despite higher expenses. Based on MIC’s latest...
The League of Cities of the Philippines (LCP) on Friday, Sept. 19, expressed its support for the President 's directive restoring the practice of requiring local government units (LGUs) to formally accept completed projects made by the national government in their respective areas of...
The national government is now urged to seek approval from local government officials before starting any infrastructure projects in their areas of responsibility. This was what the members of the Metro Manila Council (MMC) agreed upon during its meeting on Tuesday, Sept. 16, as the policy-making...
The national government’s outstanding debt reached ₱16.92 trillion in May, setting a new record high as it neared the ₱17-trillion mark, from ₱16.75 trillion at end-April. According to the latest data reported by the Bureau of the Treasury (BTr), the one-percent, or ₱166.2-billion,...
The Philippines has a "low" sovereign debt risk despite its ballooning obligations, but think tank Capital Economics cautioned that emerging markets (EMs) with better managed public finances should not rest on their laurels amid lingering fiscal strains. In a June 12 report authored by Capital...
The Marcos Jr. administration 's chief economic manager has allayed concerns about the rising public debt level, claiming that the national government maintains prudent fiscal management. Asked on Tuesday, June 3, if there 's anything to worry about regarding debt accumulation, especially...
The national government spent P3.67 billion and P5.66 billion in confidential and intelligence funds, respectively, in 2022, the Commission on Audit (COA) disclosed in its Annual Financial Report (AFR) on national government agencies. The government's use of confidential and intelligence funds...
The national government is working together with the private sector and non-government agencies to prepare for and mitigate the impacts of El Niño, particularly in ensuring that there will be adequate water supply in the country. *(File photo) * A total of 240 representatives from various...
The adoption of the enhanced Land Sector Development Framework and Roadmap (LSDF) 2019-2040 has gained support and pledges from different organizations during the recent National Governance Summit. With the Department of Environment and Natural Resources-Land Management Bureau (DENR-LMB), together...
The Department of the Interior and Local Government (DILG) bagged the coveted best national government agency by the Career Executive Service Board (CESB). It was the fifth time the DILG received the coveted plum as it also received the Career Executive Service Performance Evaluation System...
