A major restructuring at the Department of Finance (DOF) could be in the offing as Malacañang is set to appoint three new undersecretaries and one assistant secretary to the agency. The DOF is expected to undergo significant changes with new Finance Secretary Ralph G. Recto inclined to...
The Department of Finance (DOF) stated that the government is committed to implementing measures to reduce inflation, thereby stimulating private spending to drive growth and increase government revenues. In a statement on Wednesday, Jan. 31, Finance Secretary Ralph G. Recto said the government...
Recto supports market reforms pushed by SEC By James A. Loyola Finance Secretary Ralph G. Recto has assured the Securities and Exchange Commission (SEC) of his support in pushing for business and capital market reforms with the aim of bolstering national efforts to promote inclusive and...
The Department of Finance (DOF) has committed to partnering with US investors to explore potential investments in critical minerals, semiconductors, and energy security in the Philippines. This commitment has been made following the meeting between Finance Secretary Ralph G. Recto and United States...
Finance Secretary Ralph G. Recto said that interest rates would go down in the second semester of the year. On the sidelines of the annual reception for the banking community late Friday, Jan. 26, Recto stated that he expects a decrease in the cost of borrowing, both domestically and offshore,...
Veteran actress Vilma Santos-Recto (right) stands behind her husband, Finance Secretary Ralph G. Recto (center), as he is sworn into office by President Marcos at Malacañan Palace on Jan. 12, 2024. Little did many know, especially those eagerly anticipating a sighting of Ate Vi, that the “Star...
The Department of Finance (DOF) has stated that the expected revenue from the "refined" five tax reform proposals will fall short of the initial projections made by the agency. Finance Secretary Ralph G. Recto said late Friday, Jan. 26, that the projected revenue gain of P213 billion from the...
The Maharlika Investment Corp. (MIC) deliberated on the strategic direction of the fund, with Finance Secretary Ralph G. Recto assuming the role of the new chairperson. The Department of Finance (DOF) reported that on Friday, Jan. 26, Recto chaired the second board meeting of the MIC. Last Jan. 7,...
The Department of Finance (DOF) plans to push for approval of five pending tax measures in Congress within this year to raise around P213 billion by the end of President Marcos' term. In the absence of new tax proposals, Finance Secretary Ralph G. Recto said the DOF will continue to push for the...
The Department of Finance (DOF) has urged the Insurance Commission (IC) to develop new products aimed at addressing emerging challenges, notably climate change. Finance Secretary Ralph G. Recto said there is the need to develop new products, implement innovative solutions, and utilize new...
The Department of Finance (DOF) said it will not seek the imposition of additional taxes this year and will instead temper tax hikes such as the proposed motor vehicles tax. “Frankly speaking, there are no plans of imposing additional new taxes. I think our first job is to collect what is on the...
Finance Secretary Ralph G. Recto has dismissed worries about the country's ballooning debt stock, affirming the government's capability to meet all maturing financial obligations. Recto said that the current total government debt, which amounted to P14.51 trillion as of November last year,...
