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Growth momentum intact

Finance Secretary Carlos Dominguez III on Thursday said the country's growth momentum remains solid and intact amid the declaration of martial law in Mindanao as domestic fundamentals continue to be strong. In a statement, he said the “military is in…

Tax effort up 13.14% in Q1

The government's bid to ensure funds for its programs continues to stride, making tax effort to stood at 13.14 percent in the first quarter of 2017. The Department of Finance reported on Tuesday that tax effort the first three months…

DoTr to fund 5 airports via ODA/GAA

The development of five regional airports in the country will be pursued through the Official Development Assistance or General Appropriations Act as the original plan for a public-private partnership procurement process was earlier cancelled, the Department of Transportation said Wednesday.…

BdO ties up with Japan's Seven Bank

BDO Unibank and Japan's Seven Bank, Ltd. have sealed on Wednesday a business pact that will capitalize on their strengths in retail business. The partnership covers the upcoming launch of an international money transfer service to the Philippines, allowing customers…

Weaker peso a tonic for Ph economy?

The government's economic managers have said that weaker peso should not worry Filipinos as this would even translate into higher tax revenue and additional monetary benefits for overseas Filipinos workers and the country’s thriving business process outsourcing sector. Finance Secretary…

Full-year growth within reach

Finance Secretary Carlos Dominguez III has voiced optimism that the Philippines remains on track to meet its full-year growth target of 6.5 percent to 7.5 percent, after the National Economic and Development Authority reported on Thursday a first-quarter Gross Domestic…

Q1 growth ‘strong, balanced’ –– ANZ

The growth in the country’s gross domestic product for the first quarter of the year was strong and balanced, the research unit of Australia and New Zealand Banking Group Ltd. said Wednesday. ANZ Research’s statement came after the National Economic…

Ph construction growth among world’s fastest

BMI Research has seen the Philippines, along with Myanmar, Ethiopia, Qatar and Pakistan, to have the fastest growth in construction sector from 2017 to 2021. The research arm of Fitch Group said the growth in construction in these countries are…

No debt woes for infra projects

Finance Secretary Carlos Dominguez III said the government will tap domestic institutions to largely finance public infrastructure projects. In a statement Wednesday, Dominguez assured that the Duterte administration will exercise fiscal prudence and responsibility in rolling out infrastructure projects, which…

Mining law critics told to move for its revision

Department of Finance Secretary Carlos Dominguez III on recently called on critics of the Philippine government's mining laws to work towards its amendment or repeal if they are against it instead of hitting people supporting the law. "My only comment…

Bicol posts 5.7% growth in 2016

LEGAZPI CITY—The Philippine Statistics Authority in Bicol said the region was able to record a 5.7-percent growth expansion in 2016. Cynthia Perdiz, PSA-Bicol director, said under the GRDP constant prices level in 2016, Bicol posted a 5.7 percent share to…

P3.12-B Aussie ODA to Ph

The Australian government will provide the Philippines with about AUD 85 million (roughly P3.12 billion) in official development assistance for 2017-2018. According to Australia’s Department of Foreign Affairs and Trade, bulk or 45.2 percent of Australian aid budget for the…

Espenilla named as incoming BSP chief

President Rodrigo Duterte on Monday named Nestor Espenilla Jr. as the incoming Governor of the Bangko Sentral. The announcement was made by the President during the 15th Cabinet Meeting in Malacañang. Espenilla, who served as Deputy Governor of BSP for…

Need for spending reforms stressed

An economist of ANZ raised the need for the Philippine government to implement spending reforms in line with the proposed tax reform and higher infrastructure spending. In a research note dated May 3, 2017, penned by economist Eugenia Victorino, ANZ…

Gov't debt hits P6.2T in Q1

Outstanding liabilities of the Philippine government rose to P 6.2 trillion at the end of the first quarter of 2017 from year-ago’s P5.9 trillion. Data released by the Bureau of the Treasury Friday showed that both the domestic and external…
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