Department of Finance

The Economy

National Government pays P300-billion BSP loan in advance

The National Government (NG) paid in full its outstanding P300 billion provisional advances to the Bangko Sentral ng Pilipinas (BSP) on May 20, well in advance of the 11 June…

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The Economy

National ID registrants onboarded by LANDBANK to formal banking system reach 4.5M in 2nd quarter

In step with President Duterte’s goal of financial inclusion for all Filipinos, the number of unbanked national ID registrants onboarded by the Land Bank of the Philippines (LANDBANK) to the…

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The Economy

PhilGuarantee MSME loan guarantees grow to P2.1B as of mid-2021

The amount of bank loans of micro, small and medium enterprises (MSMEs) guaranteed by the Philippine Guarantee Corp. (PhilGuarantee) reached P2.1 billion as of June this year, allowing almost 10,000 COVID…

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The Economy

LANDBANK onboards 3.8-M unbanked National ID registrants to formal banking system

The Land Bank of the Philippines (LANDBANK) has cleared the way for 3.79 million unbanked registrants to the national ID system to be part of the formal banking system as…

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The Economy

Monde Nissin record-breaking IPO shows confidence in PH post-COVID growth

Finance Secretary Carlos Dominguez III said Tuesday, June 1, Monde Nissin’s landmark stock market transaction that has attracted overwhelming demand worldwide is testament to the high confidence of the global…

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The Economy

ADB-backed project to help LGUs boost revenues, build fiscal resilience

Finance Secretary Carlos Dominguez III said Tuesday an Asian Development Bank (ADB)-funded project designed to boost the revenue-raising capacity of local government units (LGUs) will help the Philippines continuously build…

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Health

Philippines calls for public-private sector partnerships on vaccine, other medical needs to end COVID-19 pandemic

Finance Secretary Carlos Dominguez III has underscored the need for public-private partnerships in the development and mass production of vaccines and other medical requirements to help end the prolonged COVID-19…

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The Economy

BIR, BOC overshoot DBCC revenue targets in 2020

The Bureaus of Internal Revenue (BIR) and of Customs (BOC) have both surpassed their respective collection goals set by the Development Budget Coordination Committee (DBCC) for 2020, collecting a combined…

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The Economy

Philippines exploring innovative financing to protect fiscal health vs adversities

Department of Finance Secretary Carlos Dominguez III said Wednesday, December 9 that the Philippines is looking forward to a strengthened partnership with the World Bank (WB) in boosting the country’s…

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The Philippines and US ink new P10.5-B deal to boost economic growth

The United States, through the United States Agency for International Development (USAID), and the Department of Finance (DOF), signed a new, five-year bilateral assistance agreement valued at more than PHP10.5…

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The Economy

Overseas Filipinos invest P1.95-M in Retail Treasury Bonds through the mobile app Bonds.PH

Filipinos based in 24 countries have invested a combined P1.95 million in the five-year PROGRESO Retail Treasury Bonds (RTBs) through the mobile app Bonds.PH, the Philippines’ first digital platform that…

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Real Estate

First Real Estate Investment Trust listing amid COVID-19 pandemic shows Philippine market ready to resume business

The Philippines’ first Real Estate Investment Trust (REIT) listing done by the Ayala-backed AREIT Inc. signals that the domestic market is ready to resume business amid the challenges arising from…

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The Economy

Stable food supply one of ‘brightest spots’ in gov’t COVID-19 response

The continuous flow of food from the country’s farms to consumers that was the result of the ongoing reforms in the farm sector initiated by the Department of Agriculture (DA) on the watch…

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Health

Philippine Government has enough funds to buy COVID-19 vaccines says Department of Finance

On Thursday, July 30, Department of Finance Secretary Carlos Dominguez III said that the Philippine government has adequate funds to purchase vaccines for the coronavirus disease 2019 for the 20…

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The Economy

Economic reform bill ‘CREATE’ aims to fuel investments, save and create new jobs for the Philippines

Department of Finance Secretary Carlos Dominguez III said on Tuesday, May 26 that now is the best time to reform corporate taxation and modernize the country’s investment incentives system by…

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Bureau of Internal Revenue e-payment collections almost double to P1.2-B in 2019

Manila — Tax payments collected by the Bureau of Internal Revenue (BIR) through electronic channels amounted to P1.2 billion in 2019, representing a 92 percent increase from the previous year’s…

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The Economy

Higher spending on infrastructure, social services to fuel Philippine growth this year

Manila — Finance Secretary Carlos Dominguez III has said that higher state spending on infrastructure and social services, supported by a low inflation rate and an expansionary monetary policy, will…

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