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Training on COA compliance for government institutions
To guide government institutions on their compliance with the Commission on Audit Circular 2020-006, the Center for Global Best Practices will be launching a two-session online training titled “COA Guidelines and Procedures for One-Time Cleansing of Property, Plant and Equipment Account Balances” on April 18 and 19, 2024 from 1:30 to 4:45 p.m. via Zoom......»»
US Bolstering Philippines Amid Increasing Assertiveness by China
washington - The U.S. and Philippines will for the first time venture outside Manila's territorial waters when they begin joint annual combat drills in April, a Philippines government spokesman said Thursday.Colonel Michael Logico said elements of the Balikatan 2024 drills would be conducted about 22 kilometers (more than 12 nautical miles) off the west coast of Palawan, an island in the archipelago nation that.....»»
EDITORIAL - Under lock and key
The Civil Service Commission has reminded all government officials and employees of the April 30 deadline to submit their sworn Statements of Assets, Liabilities and Net Worth for 2023......»»
Philippines posts 196 mln USD deficit in February
MANILA, March 19 (Xinhua) -- The Philippines' overall balance of payments (BOP) posted a 196-million-U.S. dollar deficit in February, significantly lower from the 895-million-dollar BOP deficit recorded a year ago, the country's central bank said on Tuesday. The Bangko Sentral ng Pilipinas (BSP) said the BOP deficit in February reflected outflows arising mainly from the national government's foreign currency deb.....»»
Tubbataha ranger station construction continues
PUERTO PRINCESA CITY, Palawan — The Tubbataha Reef Natural Park in Cagayancillo municipality in Palawan will soon have a new and modern ranger station as ongoing construction progresses to Phase II with the backing of the provincial government. The project, which began on 19 April this year is being carried out by the Provincial Engineering Office, according to provincial information officer Atty. Christian Jay Cojamco said Friday. He added that the development marks an important step for the Tubbataha Reefs Natural Park, a UNESCO World Heritage Site and popular marine protected area in the world. “The project is funded with a budget of P58,234,005.51, which originates from reparations paid by the United States to the Philippines as compensation for the damage incurred due to the grounding of the USS Guardian on Tubbataha Reef in 2013,” Cojamco said. He also said that Palawan Governor Dennis Socrates of Palawan is happy with the support provided by the provincial government’s engineering office in building the facility, which functions as a central hub for Tubbataha park rangers, marine conservationists and environmental authorities. The post Tubbataha ranger station construction continues appeared first on Daily Tribune......»»
On right track
"Culture and the arts reflect our identity as Filipinos, as people. We must have a strong patriotism to embrace our culture and identity fully.” It may be a long and arduous road toward a free and genuine Filipino culture, National Commission for Culture and the Arts Executive Director Oscar G. Casaysay says, “In taking a whole of government approach, we are on the right track in attaining Philippine Development Goals.” Casaysay, who managed the community relations and major festivals and celebrations of the country’s largest city for nine years (from 2004 to 2013), now leads NCCA in preserving, developing, and promoting the Philippine arts and culture. Founded in 1987, NCCA “promotes unity among individuals involved in the conservation of cultural properties, such as artworks, ethnographic collections, archaeological artifacts, and other materials of historical significance.” He admitted that before joining the agency, he only read the works of national artists like Bienvenido Lumbera, Nick Joaquin, and Ricky Lee. He watched the films of esteemed Lino Brocka, Ishmael Bernal and Marilou Abaya. “I only heard and read about the productions of the Cultural Center of the Philippines featuring the Ballet Philippines and the Philippine Harmonic Orchestra,” he said. “It was only when I became the executive director that I was able to watch those productions inside the CCP in the front row and even stand on stage giving out messages.” “I now meet our national artists up close and personal. I have the luxury of being introduced to many theater greats in the Philippine Education Theater Association and other theater productions,” he added. He went on to say that he also had the pleasure of meeting Alice Reyes (whom he described as “graceful and very down to earth”), Ryan Cayabyab (“cool and very accommodating”), Virgilio Almario (“so dignified”), Ramon Santos (“unassuming”), Ricky Lee (“down to earth and very accommodating”), Nora Aunor (“warm and humble”) and Agnes Locsin (“friendly and very warm”). In the absence of regional offices to connect with local artists and cultural workers, he said NCCA works with sub-commissions whose members are elected from among the private sector members from different communities. “Ours is a complex network that we have to deal with,” Casaysay said. “A lot of challenges each day. The most difficult part is we don’t have a huge budget, although the grants we give out come from the National Endowment Fund for Culture and the Arts.” These grants, he said, are derived from the proposals coming from civil society organizations, individual artists and cultural workers, other national government agencies, schools, colleges, universities, and local government units for their culture and arts programs and projects. Through the Sentro Rizal Office, the NCCA also engages in international initiatives. Every day has a lot of challenges and struggles to confront and hurdle, but still, with the most gracious style, he jested. The NCCA oversees the entire recognition process, from the call for submissions and selection to the presentation of the Gawad sa Manlilikha ng Bayan, the Order of National Artists and the National Heritage Awards. Culture is a nation’s soul “Culture is the soul of the nation. Without culture, a nation doesn’t have an identity. Culture refers to the way of life of a nation. Thus, everything that we do as a people becomes our culture,” he said. “Culture is best manifested through the arts that are said to be the best expressions of culture.” “All seven types of arts contribute to the overall growth and advancement not just of a person but of the community and the nation as well,” he said, referring to architecture and allied arts, cinema or film, dance, drama or theater, literary arts, music and visual arts. Throughout the pandemic, he felt disheartened by the perception of the arts sector as being “non-essential.” “We cannot imagine the online platform without some of the best online programs communicated through the arts — films, dances, poetry, music, or even Netflix,” he said. Citing the NCCA’s role in supporting and promoting the interests of indigenous people groups, Casaysay said valuing and preserving the cultural heritage of IPs contributes to the diversity and richness of Philippine culture. Through its programs, projects, and collaborations, the NCCA empowers IPs to protect, revitalize, and celebrate their unique cultural traditions, languages, and arts, ensuring their continued existence and appreciation for future generations. “Other aspects, such as indigenous cultures and cultural heritage, also contribute to a nation’s progress and development,” he said. Indigenous cultures, he said, refer to the knowledge, skills, and practices of our culture bearers that are preserved and handed down from one generation to another. “Cultural heritage may be tangible or intangible and is considered the wealth of a nation in terms of its glorious past. All these facets of culture are important in the life of a nation and are essential towards the holistic advancement of a country,” he said. Opportunities The lack of widespread discussion and engagement among Filipinos regarding culture is a primary concern Casaysay and many others share. “There are many challenges faced by the NCCA in this aspect. To enumerate a few — due to the lack of interest generally by Filipinos in arts and culture. For many, culture and the arts are seen as not essential; for many, it is only for the elite,” he said. He lamented the current trend wherein the younger generation shows greater appreciation for foreign cultures, such as those from Korea or the United States, rather than their own. Instead of viewing these as obstacles, he said the NCCA sees them as opportunities for growth and enhancement. Expressing confidence in the significant achievements of the NCCA in fostering greater appreciation, understanding, respect, and love for arts and culture among Filipinos, he said these encompass various aspects, including policy formulation, programming and promotions. Several laws have been enacted to safeguard the country’s cultural heritage, such as the Republic Act 10066 of 2009, commonly known as the National Heritage Law. Moreover, the NCCA organizes institutional programs throughout the year to celebrate and promote different facets of Filipino culture. Notable examples include National Arts Month held every February, Food Month and Literature Month in April; Heritage Month in May, Linggo ng Musikang Pilipino (OPM Week) in the last week of July, and IP Month in October, among others. “The NCCA is also in charge of the cultural mapping and monitoring of the local culture and arts councils in the local government units,” he said, adding that it needs to intensify its efforts to be able to reach the grassroots levels. Since dreams don’t become reality through magic but by sweat, determination, and hard work, Casaysay said the NCCA will harness and maximize more platforms to reach a larger market, especially the younger generation. The dream of having a Department of Culture is neither a mountain high enough. The post On right track appeared first on Daily Tribune......»»
OWWA must come clean
When migrant workers were among the first to be hit by the impact of Covid-19 when the lockdowns began globally, the Overseas Workers Welfare Administration or OWWA was expected to aid overseas Filipino workers in their ordeal. Instead, the Commission on Audit found questionable OWWA moves in the conduct of the repatriation of OFWs and the use of public funds for this. Some 3,707 overseas Filipino workers were repatriated from April 2020 to May 2022 at “more than a single instance.” According to the 2022 CoA report, doubts were raised “on the eligibility” of the repatriates to qualify as being in distress. By doing so, the recipients of the OWWA assistance “expended funds that should have been borne by these OFWs during their regular trips back home contrary to Section 2 of Presidential Decree 1445, thereby depleting scarce government resources.” That was a period when the government was scrounging for funds for programs to respond to the effects of the pandemic. CoA said a review of the list of repatriates indicated that the 3,707 individuals who availed of the emergency program were repeat beneficiaries up to five times over 26 months. “It was noted that 88 percent or 3,250 of these individuals were sea-based,” the CoA said. CoA investigation indicated that the repatriation program was used by the OFWs for their regular trips back home after their contracts had expired “and not due to distress as can be gleaned by the number of times these OFWs availed of the program.” What made matters worse was the response of OWWA to the CoA findings that “it could not explain how the OFWs were assessed to qualify as overseas Filipinos in distress.” CoA added that the improper evaluation of the OFWs that availed of the program “may have a detrimental outcome on the effectiveness of the program as it exhausted funds that could have been used to accommodate eligible” recipients. OWWA said its regional offices only received OFWs “who boarded via sweeper flights as communicated by the central office.” A further review of the program showed unobligated hotel accommodation expenses by the regional offices in 2020 amounting to P642,000 that was paid using the 2022 Emergency Repatriation Fund, which violated the law. Under the law, or PD 1445, “no money shall be paid out of any public treasury or depository except in pursuance of an appropriation law or other specific statutory authority.” Section 119 also requires that “all lawful expenditures and obligations incurred during the year shall be taken up in the accounts of that year” to address the expenses paid out of the budget two years after. CoA also questioned a total of P328,756 in disbursements by the central office and six regional offices that were “deemed irregular, unnecessary, excessive, extravagant and unconscionable expenditures.” CoA, in the exercise of its functions, had to rely on hard numbers, the reply of agency officials, and the presumption of regularity in addressing the questionable dealings of the OWWA. Since it lacks auditors and field investigators, CoA’s options are limited unless other probers such as the Senate or the National Bureau of Investigation step in. Considering the emergency when it happened, however, probing the suspected OWWA irregularities, based on the CoA report, should be taken to its logical conclusion. The post OWWA must come clean appeared first on Daily Tribune......»»
Cebu council pries pending flood control project
The Cebu City Council had raised an inquiry on what happened on a certain flood control project which was paid P199.32 million in advance last 15 June 2021. North District city councilor Jerry Guardo — who also chairs the committee on infrastructure — disclosed that the winning contractor identified as A.M. Oreta has not yet executed the task since the project contract was awarded to them on 15 April 2021. To recall, the Commission on Audit described as “excessive” the advance payment of P199.32 million — a portion of the total project cost of P1.328 billion for flood control projects. In his privilege speech, Guardo requested the council to call for an executive session to find out from different stakeholders — especially the winning contractor, the city legal officer and city engineers — the causes of the delays in the project’s implementation. DAILY TRIBUNE tried to get the side of A.M. Oreta but has yet to reply. “This is to inform us about any lapses, violations as to why until now the contractor did not comply with the contract,” Guardo said. He revealed that the contractor had been invited to attend the regular session scheduled last 16 August but did not attend the session and instead requested to postpone their appearance to a later date. The P1.328 billion was allotted to enhance and restore the current drainage system in Cebu City with a specific focus in the south district. According to state auditors, the contract was signed for a flood control system involving the construction of drainage mains at Cabreros Street-N. Bacalso Avenue-V.H. Garces Street, A. Gabuya Street and Leon Kilat Street-Escano Street in Cebu City. Guardo cited that 80 percent of the budget was designated for addressing flooding issues in the south such as barangays Cogon Pardo, Basak, San Nicolas, Cabreros and Mambaling and in an area near a mall on N. Bacalso Avenue which extends toward Carbon Public Market while the remaining 20 percent was allocated for the north district. The post Cebu council pries pending flood control project appeared first on Daily Tribune......»»
Taiwan’s leader says 2024 defense budget to hit record $19-B
Taiwanese President Tsai Ing-wen said Monday defense spending would reach a record 606.8 billion Taiwan dollars ($19 billion) in 2024, a demonstration of the island's "determination to ensure national security". Tsai said in a statement defense spending was "expected to reach 2.5 percent of the GDP". The proposed spending would be a 3.5 percent increase from 2023's $586.3 billion Taiwan dollars, according to official data. "Taiwan must continue to bolster its capabilities to defend itself and demonstrate its self-defense determination to ensure national security and interests while seeking more international support," she said. Democratic Taiwan lives under the constant threat of invasion by China, which views the island as its own territory to be taken one day. Tsai was briefed by Premier Chen Chien-jen about the 2024 government budget, which will be released by the cabinet on Thursday and then submitted to parliament for approval. Beijing has intensified its saber-rattling and ramped up political and economic pressure on Taiwan since Tsai, who views the island as independent, came to power in 2016. The Chinese military launched massive military exercises last year after Nancy Pelosi, then-speaker of the US House of Representatives, visited Taiwan, and again in April when Tsai transited through the United States. China staged fresh drills around the island on Saturday, a day after Tsai's deputy William Lai, also a frontrunner in the upcoming presidential election, returned from a visit to Paraguay with two stopovers in the United States. Taiwan's defense ministry said 45 warplanes had entered its air defense zone during the exercises, which also included nine Chinese vessels. The post Taiwan’s leader says 2024 defense budget to hit record $19-B appeared first on Daily Tribune......»»
Congress earmarks funds NAIA infra projects
House Committee on Appropriations Vice-chairperson and Makati City Representative Luis Jose Angel Campos Jr. on Sunday announced that the Ninoy Aquino International Airport is set to receive some P2.8 billion for infrastructure projects. Campos disclosed that also included is the P1.2-billion budget for the acquisition of a new traffic management system following the New Year’s Day breakdown that disrupted hundreds of flights. He said that the P1.2 billion in the proposed 2024 budget was allocated for the communications, navigation, and surveillance-air traffic management system which seeks to improve the efficiency of the country’s main gateway. “We are counting on the new CNS-ATM system to optimize airspace and airport efficiency, reduce flight delays, and improve travel experience,” said Campos in a statement. “Our hopes are high that the new system, once installed and fully functional, could potentially increase airport capacity to accommodate more flights in the years ahead,” he added. The move comes as Department of Transportation Secretary Jaime Bautista in January cited the need for a backup system, as the current system in use estimated to be worth P13 billion — is already in its midlife. Last month, the National Economic and Development Authority Board chaired by President Ferdinand Marcos Jr., opted to push through with plans to privatize NAIA through a solicited bid with the upfront payment cost now being studied and initially estimated at P30 billion. In June this year, the DoTr and the Manila International Airport Authority submitted a joint proposal to the NEDA Board seeking a private concession to invest and improve the NAIA for 15 years. The NEDA Board approved the 15-year concession period, with the option to renew for another 10 years based on a performance review, and should the two new airports — the New Manila International Airport in Bulacan and the Sangley International Airport in Cavite — be delayed. Before this, the Manila International Airport Consortium in April submitted an unsolicited proposal to take over NAIA, but this was deemed “de facto closed” when the government opted for a solicited bid. At present, NAIA’s terminals service over 40 million passengers versus its 32-million annual capacity, with 38 to 40 landings and takeoffs made per hour. The post Congress earmarks funds NAIA infra projects appeared first on Daily Tribune......»»
Tobacco on list of agri products in proposed economic sabotage law, says Villar
Senator Cynthia Villar assured that tobacco is included in the list of agricultural products covered by her proposed Anti-Agricultural Economic Sabotage Act of 2023. She said the proposed measure would amend the Anti-Agricultural Smuggling Act to include hoarding, profiteering, and a cartel of agricultural products as "economic sabotage." “Tobacco will be included in the agricultural products covered by this law,” Villar, who is chairperson of the Senate Agriculture and Food Committee, made the assurance during the International Tobacco Agricultural Summit held at Shangri-La Hotel in Taguig City on Thursday, where she was the guest speaker. Citing a report from the National Tobacco Administration, Villar noted that the tobacco industry contributes to employment and revenue generation in the country, supporting around 2.2 million Filipinos directly or indirectly. The lawmaker added that tobacco has contributed nearly P16 billion to the country's gross domestic product in 2021. The Oxford Business Group's Economic Impact Report showed that tobacco cultivation was present in 23 provinces across 12 regions in the Philippines, with the Ilocos Region being the top producer at 69 percent, followed by Cagayan Valley at 23 percent, and Northern Mindanao ranking third, as of April 2022. Villar underscored the industry's significance to rural economies is highlighted by a 47.8 percent increase in the area planted for tobacco between 2019 and 2022. Since 2013, she said the implementation of sin taxes for tobacco and alcohol, resulted in additional funds for the national health budget, including Universal Health Care. The sin tax revenue, primarily from tobacco collections (mainly cigarettes), accounted for 58 percent of all sin tax collections and comprised 54 percent of the health budget in 2020. "Tobacco-producing provinces receive shares from tax collected to be used in funding livelihood programs, infrastructure projects, and promote economically viable alternative agricultural products for the farmers," she said. However, Villar noted that tobacco—like any other agricultural product— is not spared from criminal activities like smuggling and tax evasion. Such crimes, she said, undermine the livelihood of farmers by "saturating the market with cheap, adulterated, and untaxed products.” The Bureau of Customs earlier reported an estimated P3 billion loss in excise taxes from illicit cigarette operations between 2019 and 2022. As reported by Euromonitor, the incidence of illicit cigarette trade is projected to increase from 12.2 percent in 2020 to 18.5 percent in 2023. “This illicit competition leads to reduced prices and demand for locally grown tobacco, resulting in income loss among our farmers,” she lamented. Villar recalled the Anti-Agricultural Smuggling Act was passed in 2016, unfortunately, not a single smuggler has been imprisoned since then. Thus, seeking to amend the law will further strengthen policies and punishments against smuggling acts. The post Tobacco on list of agri products in proposed economic sabotage law, says Villar appeared first on Daily Tribune......»»
IMF raises 2023 economic outlook but warns of slowing global growth
The International Monetary Fund has slightly upgraded its outlook for world growth this year on the back of resilient service sector activity in the first quarter and a strong labor market, the lender said Tuesday. But despite the mildly better economic forecast, growth is expected to slow to three percent in 2023 and then stay there, held down by weak growth among the world's advanced economies, the IMF announced in a new report. "The global economy continues to gradually recover from the pandemic and Russia's invasion of Ukraine. But it is not yet out of the woods," IMF Chief Economist Pierre-Olivier Gourinchas said during a press conference. The growth forecast for this year was raised by 0.2 percentage points from the IMF's last estimate in April, putting the world economy on track for three percent growth in both 2023 and 2024. This is down from growth of 6.3 percent in 2021, and 3.5 percent last year, the IMF announced in its update to the World Economic Outlook (WEO). Earlier this year, the IMF published its lowest medium-term forecast since the 1990s, citing slowing population growth and the end of the era of economic catch-up by countries including China and South Korea. On Tuesday, the IMF said the global inflation picture has improved somewhat, with consumer prices now expected to increase by 6.8 percent this year, down 0.2 percentage points from April's forecast. This is largely on account of subdued inflation in China, Daniel Leigh, the head of the IMF's World Economic Studies division, told reporters on Tuesday. "This is one of the only countries in the world right now where inflation is below the target rate," he said, adding that the IMF has revised China's inflation forecast for the year down sharply to 1.1 percent. 'Resilient' US consumption The IMF has lifted its outlook for US growth this year to 1.8 percent, up 0.2 percentage points from April, citing "resilient consumption growth in the first quarter." The still-tight labor market in the world's largest economy "has supported gains in real income and a rebound in vehicle purchases," the IMF added in its report. The fund sees US growth slipping to 1.0 percent next year, as savings accumulated during the pandemic dry up and the economy loses momentum. As with the April forecast, much of global growth this year is expected to come from emerging markets and developing economies (EMDEs) like India and China, with activity in advanced economies, predicted to slow substantially this year and next. Advanced economies are now anticipated to grow by 1.5 percent this year, up 0.2 percentage points from April, and by 1.4 percent in 2024. Citing positive economic news from the United Kingdom, the IMF has lifted the country's growth forecast for 2023 to 0.4 percent, leaving Germany as the only G7 economy expected to contract this year. The news is much more positive among the EMDEs, which are forecast to grow by 4.0 percent this year, and by 4.1 percent next year. The IMF's 2023 growth forecast for China remained unchanged at 5.2 percent, although it notes there has been a change in composition, with underperformance of investment due to the country's troubled real estate sector. Alongside property sector weakness, the IMF said foreign demand remains tepid and warned of rising and elevated youth unemployment, which reached almost 21 percent in May. The IMF lifted India's 2023 growth prospects to 6.1 percent, up 0.2 percentage points from April, citing "momentum from stronger-than-expected growth in the fourth quarter of 2022 as a result of stronger domestic investment." The fund now expects Russia's economy to grow by 1.5 percent this year, an upward revision of 0.8 percentage points from April, due to stronger-than-expected economic data fueled by "a large fiscal stimulus." The IMF anticipates the Russian government's budget deficit will expand to 6.1 percent this year, up from 1.4 percent last year, according to a spokesperson. The post IMF raises 2023 economic outlook but warns of slowing global growth appeared first on Daily Tribune......»»
High-impact infras feed optimism
During the first State of the Nation Address or SoNA, a year ago, President Ferdinand Marcos Jr. told his audience made up mostly of legislators that the country’s condition is ripe for a growth revival despite the lingering challenges from the pandemic and the creeping high inflation. Marcos recognized that Filipinos have faced formidable challenges over the past two years and are ready to recover. Despite their ordeal, he commended their resilience and determination to endure and overcome the trials they are confronting. “We have assembled the best Filipino minds to help navigate us through this global crisis that we are facing. We will endure,” Marcos said. “Let our Filipino spirit remain undimmed. I know this in my mind, in my heart, in my very soul that the state of the nation is sound,” Marcos added. Infra spending to be sustained According to Marcos, expenditures for 2022 to 2023 will be sustained at a level exceeding 20 percent of the country’s gross domestic product, equivalent to P4.955 trillion and P5.086 trillion, respectively, to ensure the ongoing execution of essential priority programs. Moreover, he stated that disbursements will rise from P5.402 trillion, representing 20.7 percent of gross domestic product in 2024, to P7.712 trillion or 20.6 percent of GDP by 2028. “Expenditure priorities will be realigned, and spending efficiency will be improved to immediately address the economic scarring arising from the effects of Covid-19 and also to prepare for future shocks,” Marcos said. As of December 2022, the national government’s expenditure amounted to P5.16 trillion, representing 23.4 percent of the country’s GDP. By April 2023, the reported disbursements reached P1.46 trillion or 19.5 percent of GDP, as BSP data mentioned. MIF as budget equalizer One week before delivering his second SoNA, Marcos approved the Maharlika Investment Fund, or MIF, bill which the Marcos government considered vital for economic development. The Department of Finance said the approval of the Philippines’ inaugural sovereign wealth fund, which will “complement the government’s existing mechanisms to finance priority projects,” signifies the administration’s dedication to pursuing its objectives for economic expansion. Fiscal management, tax reforms In his SONA last year, Marcos announced that the government would implement tax administration reforms to boost revenue collection. “We will implement sound fiscal management. Tax administration reforms will be in place to increase revenue collection,” Marcos said. He added that the government will adjust the country’s tax system to catch up with the rapid development of the digital economy, including the imposition of value-added tax on digital service providers. Marcos also pointed out that the initial revenue impact will be around P11.7 billion in 2023 alone, adding that the government would simplify the tax compliance procedures to promote ease of paying taxes. Data from the Bangko Sentral ng Pilipinas showed that tax revenues reached P1.12 billion as of April 2023, representing approximately 87.9 percent of total revenues. The post High-impact infras feed optimism appeared first on Daily Tribune......»»
Government ramps up infrastructure spending to P87 Billion in April
The government ramped up its infrastructure spending to P87 billion in April, mainly to finance road and rail projects, the Department of Budget and Management said......»»
Budget balance lands surplus in April
Data released by the Bureau of the Treasury on Monday showed that the budget eked out a surplus of P66.8 billion in April......»»
Philippine budget surplus balloons in April
The Philippines posted a budget surplus for the second straight month in April, ballooning to P66.8 billion or 13.5 times the surplus recorded in the same period last year, as the acceleration in revenue collection outstripped the growth in government expenditures, according to the Bureau of the Treasury......»»
State agencies told to ramp up spending
The Department of Budget and Management has urged government agencies to further ramp up their budget disbursement and spending as the utilization rate of the state firms reached 90 percent from January to April......»»
Phl gov’t budget records P204.1 billion surplus in April 2023— BTr
The Philippines' budget balance swung to a surplus in April 2023 as the acceleration in revenue collection outstripped the growth of government expenditures. The national government's budget recorded a surplus of P204.1 billion last month, a turnaround from P4.9 billion a year earlier, the Bureau of the Treasury reported on Monday. On the other hand, the cumulative deficit decreased by 34.57 percent to P204.1 billion, which was P107.8 billion less than the budget gap incurred during the same four-month period last year. Actual government revenue collections in April stood at P440.7 billion, growing by 26.66 percent or P92.7 billion year-on-year. Similarly, the resulting year-to-date revenue for the four months improved to P1.3 trillion, posting a yearly growth of 11.22 percent or P127.1 billion. Tax collections amounted to P1.1 trillion in April, accounting for 89.18 percent of total revenues. The Bureau of Internal Revenue collected P336.0 billion, up 40.24 percent or P96.4 billion from a year ago. "Growth for the period was attributed to the implementation of Revenue Memorandum Circular No. 5-2023 in line with Section 37 of the TRAIN Law, which requires the filing of Quarterly VAT Returns within twenty-five days following the close of each taxable quarter wherein the transaction was recorded," BTr explained. BIR's total collections as of end-April, amounting to P841.2 billion, likewise outperformed the previous year's outturn for the equivalent period by 13.31 percent or P98.8 billion. Meanwhile, collections from the Bureau of Customs registered a modest growth of 2.87 percent, up by P1.9 billion in April 2023 to P67.6 billion from P65.7 billion in the previous year. BOC's YTD collection reached P281.4 billion, 10.68 percent or P27.2 billion better than the previous year. On the other hand, Bureau of the Treasury income eased to P18.3 billion in April, 28.89 percent or P7.4 billion lower than the 2022 comparable level. "The downturn for the month was mainly attributed to the base effect of early remittances of dividends from GOCCs last year," BTr said. As of end-April, total BTr revenue amounted to P57.3 billion, also down by 23.03 percent (P17.1 billion) for the same reason. The post Phl gov’t budget records P204.1 billion surplus in April 2023— BTr appeared first on Daily Tribune......»»
Acuzar: House all-out behind 4PH housing
Housing czar Jose Rizalino Acuzar has assured the public that the House of Representatives intends to bankroll the Marcos administration’s campaign to wipe out the country’s 6.5 million housing backlog. Secretary Acuzar, who heads the Department of Human Settlement and Urban Development, revealed that Speaker Martin Romualdez guaranteed his support for the government’s “Pambansang Pabahay para sa Pilipino program” or 4PH. Acuzar guested in this week’s Straight Talk, Daily Tribune’s digital show, where he laid down the government’s socialized housing program being implemented by DHSUD. “Speaker Romualdez is very supportive of providing interest subsidies. He said he will even file a bill to make 4PH sustainable,” he said. The House gets the first crack at combing through the projects under the Executive Department’s National Expenditures Program, thus it is considered to hold the “power of the purse.” “We are also in constant communication with the Department of Budget and Management for them to release the budget, so that next year, we will have the allocation for the interest subsidy,” he said. Last April, President Ferdinand Marcos Jr. announced that a total of 30,000 units would be built in six sites in Bulacan, namely in San Jose Del Monte City and the municipalities of San Rafael and Pulilan. A total of 1,890 residential vertical housing units to be named Aria Estate Housing Development will be built on a 4.5-hectare land at Heroesville in Barangay Gaya-Gaya, city of San Jose Del Monte. The project will be comprised of nine residential towers and eight-story buildings with commercial areas on the ground floor. Acuzar said all edifices and houses that will be built will be resilient against earthquakes and other natural calamities. He said local government units will play a role in ensuring the units constructed are of high quality in terms of materials used and workmanship. “They (the LGU) are the ones who will make sure that all buildings are strong. The DHSUD cannot check all those construction permits. From there, these LGUs can check if the construction of the buildings is sub-standard or not,” Acuzar said. He also urged the private sector to help the government realize the dream to provide decent homes to underprivileged families. On bringing back war-torn Marawi City to its feet, Acuzar said reconstruction works there are nearly done. He said all sectors of the government were tapped in rebuilding Marawi. “Roads will be handled by the Department of Public Works and Highways, schools are for the Department of Education, and the resident’s health problems, they’re for the Department of Health to handle it. It’s a multi-agency approach,” he added. All concerns about issues on salaries of the Task Force Bangon Marawi had been addressed and resolved, he averred. This March, Task Force Bangon Marawi officer-in-charge and DHSUD assistant secretary Melissa Aradanas said many projects have been achieved and are now enjoyed by the residents. The post Acuzar: House all-out behind 4PH housing appeared first on Daily Tribune......»»
Budget release utilization rate slows to 90% from Jan to April
The government increased its releases of cash allocations, but state agencies were not able to improve their spending rate as of April, according to the Department of Budget and Management......»»