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GOCCs remit P160.6 billion to Treasury for pandemic response

Sixty-three state-run corporations have remitted P160.62 billion to the National Treasury as of mid-December to support the government’s pandemic response efforts, the Department of Finance said yesterday......»»

Category: financeSource: philstar philstarDec 31st, 2020

GOCCs subsidies reach P230 billion in 2020

Subsidies extended by the national government to state-owned corporations reached a new record high of P230.418 billion in 2020 as funding support for various pandemic-response programs were ramped up, data from the Bureau of the Treasury showed......»»

Category: financeSource:  philstarRelated NewsMar 8th, 2021

Budget gap widens to P321.5 billion in Q1

The country’s budget deficit widened to P321.5 billion in the first quarter as the government continued to spend more for pandemic response even as revenues continued to fall, the Bureau of the Treasury reported yesterday......»»

Category: financeSource:  philstarRelated NewsApr 27th, 2021

GOCC subsidies hit P229 billion from January to November 2020

Subsidies received by state-run corporations rose to P228.7 billion in the first 11 months of 2020, boosted by the government’s funding support for various coronavirus pandemic response programs, according to the Bureau of the Treasury......»»

Category: financeSource:  philstarRelated NewsJan 4th, 2021

GOCCs subsidies hit P200 billion in 9 months

The national government has extended nearly P200 billion in subsidies to state-run firms from January to September to support their operations and coronavirus response efforts, according to the Bureau of the Treasury......»»

Category: financeSource:  philstarRelated NewsNov 1st, 2020

BIR collections breach P1 trillion, surpass target

The Bureau of Internal Revenue collected more than P1 trillion in taxes as of end-June, surpassing its target by over P16 billion, as the agency improves its performance to beef up the government’s resources for pandemic response......»»

Category: financeSource:  philstarRelated NewsJul 16th, 2021

Government clips foreign borrowings in H1

Bangko Sentral ng Pilipinas-approved foreign borrowings by the national government fell by 38.8 percent to $5.64 billion in the first half from $9.22 billion in the same period last year as the country limited its reliance on offshore creditors for more funds to finance its pandemic response measures......»»

Category: financeSource:  philstarRelated NewsJul 10th, 2021

Unused Bayanihan funds likely to return to treasury

The P18.4-billion unutilized funds under Bayanihan 2 will most likely be returned to the national treasury following President Duterte’s failure to call for a special session of Congress for purposes of extending the funds to fight the COVID-19 pandemic......»»

Category: newsSource:  philstarRelated NewsJun 28th, 2021

QR code transactions near P1 billion

The value of transactions using the QR (quick response) technology via the national QR code standard reached almost P1 billion as of end-May, as more Filipinos embrace digital channels amid the pandemic......»»

Category: financeSource:  philstarRelated NewsJun 27th, 2021

‘P18 billion wasted as Bayanihan 2 expires this month’

An estimated P18 billion in unutilized funds for pandemic response programs would go to waste when Republic Act No. 11519 or Bayanihan 2 expires on June 30 amid the dire need to arrest the surge in COVID-19 infections in many provinces......»»

Category: newsSource:  philstarRelated NewsJun 20th, 2021

Japan hands Phl P9.2B pandemic aid

Tokyo will grant the Philippines P9.2-billion worth of loans and aid in a bid to assist the government in its pandemic response, the Japanese embassy in Manila said Thursday. During a 20-minute phone conversation with President Rodrigo Duterte on Wednesday, Japan’s Prime Minister Suga Yoshihide said the Japan International Cooperation Agency is slated to release […] The post Japan hands Phl P9.2B pandemic aid appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsMay 20th, 2021

Subsidies to GOCCs reach P11.5 billion in Q1

Subsidies extended by the national government to state-owned corporations reached P11.5 billion in the first quarter, lower than the funding support provided in the same period last year, according to the Bureau of the Treasury......»»

Category: financeSource:  philstarRelated NewsMay 10th, 2021

NG debt rises to new record high of P10.77 trillion

The national government’s total outstanding debt rose to a new record high of P10.774 trillion in end-March, still mostly domestic borrowings, to fund its pandemic response, the Bureau of the Treasury said yesterday......»»

Category: financeSource:  philstarRelated NewsMay 4th, 2021

Philippines 2nd biggest ADB loan recipient in 2020

Manila-based Asian Development Bank lent a record $31.6 billion last year to Asia Pacific governments to aid in pandemic response, with the Philippines securing the second highest lending among the countries in the region......»»

Category: newsSource:  philstarRelated NewsApr 28th, 2021

With corporate levies cut, Duterte gov t looks to state firms for revenues

The Duterte administration wants to hike the portion of earnings that state-run corporations are required to remit to the National Treasury in a bid to to raise more cash to fund the economy's recovery from a pandemic-led crash......»»

Category: financeSource:  philstarRelated NewsApr 26th, 2021

Government gross borrowings reached P2.74 trillion in 2020

Gross borrowings by the national government reached P2.74 trillion in 2020 from domestic and external sources as the country ramped up financing for its pandemic response, data from the Bureau of Treasury showed......»»

Category: financeSource:  philstarRelated NewsMar 1st, 2021

2020 budget deficit ballooned to P1.37T as tax collection fell

The government’s budget deficit widened to P1.371 trillion in 2020, or more than double the previous year’s P660.2-billion shortfall, reflecting the 11.31-percent growth in public spending combined with the 8.97-percent reduction in revenue collection amid the pandemic, the Bureau of the Treasury said Friday......»»

Category: financeSource:  thestandardRelated NewsFeb 26th, 2021

Palace appreciates Bayanihan 3 but says resources enough

The government has enough financial resources for its COVID-19 response, Malacañang said yesterday, after some lawmakers filed a bill providing for a P420-billion stimulus package to resuscitate the pandemic-struck economy......»»

Category: newsSource:  philstarRelated NewsFeb 8th, 2021

BSP ready to lend govt P280B for Covid response

The Bangko Sentral ng Pilipinas (BSP) is ready to lend more money to the government that can be used for its coronavirus pandemic response. In a virtual briefing on Thursday, BSP Governor Benjamin Diokno announced that the government can borrow as much as P280 billion more from the central bank. The amount is 10 percent […].....»»

Category: newsSource:  manilatimes_netRelated NewsJan 17th, 2021

Budget OK major feat for Senate

The passage of the P4.5-billion budget for 2021, seen to drive the country’s pandemic response and recovery efforts, is the biggest accomplishment of the Senate “especially  now that we are in a health crisis,” said the senators......»»

Category: newsSource:  thestandardRelated NewsDec 25th, 2020

Group demands accounting of Cebu City COVID-19 funds

CEBU CITY, Philippines—A coalition is demanding transparency and accountability for the budget allocated for the coronavirus disease (COVID-19) pandemic response here.  The Freedom Debt Coalition composed of various cause-oriented groups in the city said there is a need to show the public a transparent liquidation of the P3.5 billion funds for the pandemic response since […].....»»

Category: newsSource:  balitaRelated NewsDec 23rd, 2020