Construction of Metro Manila Subway Project Phase 1 is well underway, aiming to bring significant improvements to transportation in the metro by 2029. With a budget of P488.5 billion, the underground mass transport system is expected to cut travel time from Valenzuela to Ninoy Aquino International...
Once operational, the Metro Manila Subway will not only enhance comfort and speed but also generate approximately P2.5 billion in daily economic benefits, the Department of Finance (DOF) said. In a briefing on Monday, Feb. 26, Finance Secretary Ralph G. Recto said the direct economic benefits,...
The Department of Finance (DOF) said the Marcos administration is on track to meet its borrowing requirements for the year, which will provide the necessary funding for government programs and projects. With a total financing goal of P2.46 trillion for 2024, the government plans to secure 75...
Finance Secretary Ralph G. Recto expressed his gratitude to the Philippine Stock Exchange (PSE) for its support and trust in his appointment. At a recent event hosted by the PSE to celebrate the new finance chief's appointment, Recto shared that this support “means a lot” for him as he...
The Department of Finance (DOF) is exploring changes to the charters of the Land Bank of the Philippines and the Development Bank of the Philippines (DBP) to pave the way for their potential public listing. Finance Secretary Ralph G. Recto, speaking at a reception hosted by the Philippine Stock...
Finance Secretary Ralph G. Recto has suggested exploring the potential for the Philippines to establish a free trade agreement with the United Kingdom (UK). This proposal was raised during Recto’s recent meeting with UK Prime Minister’s Trade Envoy to the Philippines Richard Graham and UK...
The Department of Finance (DOF) said that all pending tax incentive applications that were previously referred to the Fiscal Incentives Review Board (FIRB) but do not meet the new investment capital threshold will be returned to the Investment Promotion Agencies (IPAs). According to the DOF, this...
President Marcos’ chief economic manager welcomed the decision to award the long-overdue Ninoy Aquino International Airport (NAIA) rehabilitation project to a private sector consortium. Finance Secretary Ralph G. Recto said that the P170.6 billion NAIA rehabilitation project represents the...
Two of President Marcos’ economic managers are pushing for the integration of healthcare coverage as a part of the compensation package for all government employees. Budget Secretary Amenah F. Pangandaman and Finance Secretary Ralph G. Recto both said that the government is now considering...
Investing in the government’s retail bonds is as effortless as ordering a loved one's favorite meal for delivery! Finance Secretary Ralph G. Recto said that retail treasury bonds (RTBs) are readily accessible through a few taps on mobile phones, offering Filipinos both here and abroad secure,...
New taxes are still a possibility, as the Department of Finance (DOF) clarified that the Marcos administration is just currently not keen on introducing additional tax proposals, apart from its existing priority tax measures. Finance Secretary Ralph G. Recto said the DOF is not developing new tax...
Finance Secretary Ralph G. Recto wants to keep the government's free college education program unchanged, dismissing any proposals to set some qualification requirements. Recto, the chief architect of the Universal Access to Quality Tertiary Education (UAQTE) Act, said that the national government...
