Recto defends Duterte economic team on federalism

MANILA, Philippines – Senate President Pro-Tempore Ralph Recto defended President Rodrigo Duterte's economic managers in the face of a call  to dismiss them for opposing federalism. "You don't shut them out of the discussions. You bring them in because the cost of federalism is front and center of the issue," Recto ........»»

Category: newsSource: rappler rapplerAug 12th, 2018

Economic team sets meet on federalism

Amid concerns that the fiscal provisions of the draft federal Constitution were unclear, the Duterte administration's economic team will meet this week to come up with unified assumptions on the cost of shifting to a federal form of government. Undersecretary Rosemarie G. Edillon of the National Economic and Development Authority (Neda) told reporters that the meeting on Aug. 29 would be attended by the economic managers. Cost of federalism While the Neda already had its own report containing assumptions on the cost of federalism, Edillon said that "we defer to the DBM (Department of Budget and Management) as the final authority on the numbers." "What we can do is inform [the...Keep on reading: Economic team sets meet on federalism.....»»

Category: newsSource:  inquirerRelated NewsAug 26th, 2018

Duterte ally steps up criticisms on federalism

MANILA: A close ally of President Rodrigo 'Rody' Duterte who also heads his economic team, stepped up his criticisms on the proposed controversial shift to a federal form of government, w.....»»

Category: newsSource:  manilanewsRelated NewsAug 12th, 2018

Show data to support BBL’s ‘awesome’ fiscal powers—Recto

Saying that the “law is in the details,” Senate President Pro Tempore Ralph Recto yesterday pressed the government to submit “the economic fine print” that will underpin the proposed Bangsamoro government’s fiscal autonomy.In a request coursed through Sen. Juan Miguel Zubiri, Recto sought “facts and figures that will bolster the financial feasibility” of the Bangsamoro self-ruled homeland.Recto said the submission of these will clarify ambiguities in the provisions in Bangsamoro Basic Law bill, and “hasten its passage in the Senate.””Like any bill, if you scratch the surface of a provision of the BBL, you will find the price tag underneath,” Recto said.Among the data Recto has requested are “national revenue collections in ARMM since its creation to the present, as well as budget utilization of ARMM, including relevant financial statements, from the time it was created.”Included in the request are “budget allocations and subsidies lodged in different national government agencies, earmarked and off-budget revenue sources.”“The purpose is to find out if past allocations to ARMM were at levels sufficient to meet the imperatives of growth, because if these are historically lacking, then we are properly informed not to commit the same mistakes with the future Bangasamoro government,” Recto said. In his letter to Zubiri, Recto also sought additional data on the formula used in computing and allocating the proposed Annual Block Grants, “funds which are to be automatically appropriated and released by the national government.” For 2019, the Block Grant is pegged at P72 billion. “What then is the revenue basis used in setting this amount?” Recto said.Recto likewise requested “elaboration” on the nature of the Special Development Fund, or SDF, which has been pegged at P100 billion for 20 years, P10 billion of which shall be given by the national government the year following the ratification of the BBL.“What is the basis for the SDF? What are examples of projects to be funded by this?” Recto said.He also asked for the “negative list of projects or programs” which cannot be funded by the block grant or by the SDF.Recto also requested for social and economic indicators at all levels of the present ARMM, and “programs that will result in better socio-economic numbers.”He said that BBL proponents in the executive branch should also submit a comparative matrix between Republic Act 6734 (ARMM Organic Act), Republic Act 9054 (Amended ARMM Organic Act), and the BBL.“A side-by-side tale of tapes, comparing past, current models, and the future one would help us create the best BBL which will encapsulate all our dreams and visions for a peaceful, progressive South,” Recto said.The senator reiterated his support “for a constitutionally-compliant, fiscally-responsible, grassroots-accepted organic law for the autonomous region.”Speaker: PDP to campaign vs poll bets against federalismSpeaker Pantaleon Alvarez yesterday said the ruling Partido Demokratiko Pilipino (PDP) will actively campaign against candidates for senator and other elective positions in the 2019 elections who are opposed to a federal system of government.Speaking before over 3,000 new members of the PDP at the Datu Lipus Makapandong Cultural Center, Alvarez urged the people in the province to support the advocacy of President Duterte and the PDP for a shift to a federal system of government, which he said would open up the development potential of the provinces and the regions.“I have one request, please don’t vote for candidates, particularly for senator, who are opposing federalism,” Alvarez told the new PDP members composed practically of the entire local officials of the province led by Agusan Del Sur Gov. Edward Adolph Plaza, 2nd District rep. Evelyn Mellana and 1st District Rep. Maria Valentina Plaza.With the mass oath-taking, the province of Agusan del Sur became the newest addition to the PDP country.In interview with the local media after the event, Alvarez explained his call against anti-federalism candidates.Alvarez said the ruling party was pushing for federalism to ensure inclusive development, particularly of the poor and neglected areas of the country.Alvarez said it was also time to elevate the political maturity of the nation by focusing the campaign on issues instead of the old practice of politics based solely on popularity or personality.He dared the senatorial hopefuls for the 2019 elections to make a clear stand on the issue of federalism.Alvarez said that if a candidate was opposed to federalism then he was clearly against the interest of provinces and regions.Accompanying Alvarez in the event were Davao City 1st District Rep. Karlo Nograles and Oriental Mindoro 2nd District Rep. Reynaldo Umali, whom the Speaker said would be included in the senatorial slate of the administration party for the 2019 senatorial contest.Earlier, Alvarez said that among the benefits of federalism was that the regions or states would retain the lion’s share of the taxes, instead of having to make do with the meager share the central government was currently sending back to the provinces.He said it was crucial to achieve a shift to a federal system of government within the term of President Duterte, who was the only presidential candidate in the 2016 elections who pushed for a federal system of government.Kimberly Otaza, 26, municipal councilor of Loreto, Agusan Del Sur, who was among the new PDP members, said she fully embraces the idea of federalism.Another new PDP member, 45-year old Duric Gavino, a barangay kagawad of Brgy. Poblacion, Prosperidad town of the province, also expressed support for a shift to a new form of government.Gavino added that he was thankful that President Duterte and the PDP are pushing for a shift to a federal form of government.“So, we thank the President. We support federalism.” he stressed.  .....»»

Category: newsSource:  tribuneRelated NewsJun 7th, 2018

Econ team pitches PH growth story to UK

The economic team expects more British investments to come in and take advantage of the business-friendly reforms put in place by the Duterte administration thus far.   During a Philippine economic briefing held in London Tuesday, Finance Secretary Carlos G. Dominguez III said the government would lure in more investors in the coming years, especially if the foreign ownership caps on a number of sectors were lifted.   "A more liberal Foreign Investments Negative List has been forwarded to the President for his consideration. All these combine to transform our growth towards one that is investments-led," Dominguez said. The release of the latest FINL has already been...Keep on reading: Econ team pitches PH growth story to UK.....»»

Category: newsSource:  inquirerRelated NewsSep 27th, 2018

Du30 s economic team going to London to woo investors

The Duterte administration's economic team will be in London this week to entice UK businessmen to invest in the Philippines' energy, infrastructure and tourism sectors. Socioeconomic Pla.....»»

Category: newsSource:  philippinetimesRelated NewsSep 25th, 2018

No off-cycle rate hike

Finance Secretary Carlos Dominguez III(File photo by JOAN BONDOC / Philippine Daily Inquirer) The head of the Duterte administration's economic team on Friday ruled out an emergency meeting by.....»»

Category: newsSource:  philippinetimesRelated NewsSep 16th, 2018

‘No off-cycle rate hike’

The head of the Duterte administration's economic team on Friday ruled out an emergency meeting by authorities to tackle the possibility of raising interest rates to fight inflation ahead of the scheduled monetary policy meeting later this month. Also, Finance Secretary Carlos Dominguez III and Budget Secretary Benjamin Diokno both told reporters that the country was not experiencing a "crisis" from the prevailing high consumer prices, with the latter assailing critics who describe the over nine-year high rate of 6.4 percent in August as "runaway inflation." Dominguez, Diokno and Socioeconomic Planning Secretary Ernesto Pernia briefed Senate finance committee chair Sen. Loren L...Keep on reading: ‘No off-cycle rate hike’.....»»

Category: newsSource:  inquirerRelated NewsSep 15th, 2018

Onset of early election fever

The economic team of President Rodrigo Duterte will have to work double time if they want to see the passage into law at the 17th Congress of the second package of the proposed tax reforms program dubbed as Tax Reform for Attracting Better and High-Quality Opportunities, or TRABAHO bill......»»

Category: newsSource:  philstarRelated NewsSep 13th, 2018

Pernia: Duterte to issue EO implementing measures to reduce consumer prices

To ease high consumer prices, President Rodrigo Duterte will be issuing an executive order (EO) to implement the measures approved by the economic team last week. During last night's Cabinet m.....»»

Category: newsSource:  philippinetimesRelated NewsSep 13th, 2018

DOF chief raises concerns on airport plan

The head of the Duterte administration's economic team on Monday expressed reservations on the proposed P735.6-billion 'aerotropolis' project in Bulacan province as it would not only.....»»

Category: newsSource:  philippinetimesRelated NewsSep 11th, 2018

Duterte defends Mocha despite admitting she went overboard

President Duterte defended Presidential Communications Assistant Secretary Mocha Uson, who recently drew sharp rebuke over a dance video on federalism that offended even allies of his administration. .....»»

Category: newsSource:  philstarRelated NewsSep 3rd, 2018

Dominguez presses Congress on passage of tax reforms

The head of the Duterte administration's economic team on Tuesday reiterated the call for Congress to pass the comprehensive tax reform program by yearend or the country risks slowing economic.....»»

Category: newsSource:  philippinetimesRelated NewsAug 29th, 2018

Finance chief sees faster GDP growth in H2

The head of the Duterte administration's economic team remains optimistic that the growth of the economy in the second half would be faster on the back of gains made at the start of the year......»»

Category: newsSource:  philippinetimesRelated NewsAug 17th, 2018

Financing economic growth

Finance Secretary Carlos “Sonny” Dominguez is the acknowledged head of the economic team of President Rodrigo Duterte......»»

Category: newsSource:  philstarRelated NewsAug 17th, 2018

DU30 welcomes public inputs on Federalism shift

President Rodrigo Duterte “welcomes” inputs from all members of society including the business community, Presidential Spokesperson Harry Roque said yesterday amid concerns of the economic impact of the shift to Federalism. Business groups on Sunday raised concerns on “ambiguous provisions” in the division of revenues and expenditures between the federal….....»»

Category: newsSource:  journalRelated NewsAug 13th, 2018

Economic team moves to temper ballooning military, police pension

The economic team will pitch to President Rodrigo Duterte by the end of this month pieces of proposed legislation that will allow the government to temper the ballooning pension benefits of uniform.....»»

Category: newsSource:  philippinetimesRelated NewsAug 9th, 2018

DOF: Political chatter no dampener to sound economy

The head of the Duterte administration's economic team insists political 'noise' is not turning off foreign investors as macroeconomic fundamentals remain strong. On Moody's Inv.....»»

Category: newsSource:  philippinetimesRelated NewsJul 23rd, 2018

China denies debt trap in grants for Philippines

MANILA, Philippines – Chinese Ambassador to the Philippines Zhao Jianhua denied that China is putting the Philippines into a "debt trap" by giving it grants and loans, as he said President Rodrigo Duterte's economic team "is smart enough."  "Actually, there has never been a debt trap. It's all ........»»

Category: newsSource:  rapplerRelated NewsJul 17th, 2018

Sectors urge Duterte to focus on social, economic issues, not just federalism

`async` tag for dfp JS removed on July 3, 2018. This is for adblocker detection mechanism, some ad blockers destroys the DFP instance, others dont. Our Ad Block checking mechanism fails when to det.....»»

Category: newsSource:  philippinetimesRelated NewsJul 15th, 2018

Sectors urge Duterte to focus on social, economic issues, not just federalism

Ahead of the upcoming State of the Nation Address on July 23, the Kalipunan ng Kilusang Masa (Kalipunan) on Saturday urged President Rodrigo Duterte to focus on other social and economic issues the country is facing, and stop looking at these issues through the “lenses” of the rich and the capitalists. Source link link: Sectors urge Duterte to focus on social, economic issues, not just federalism.....»»

Category: newsSource:  manilainformerRelated NewsJul 14th, 2018