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Budget shortfall unlikely to return to pre-COVID-19 level — DBCC
Nearly two years into the term of the Marcos administration, government economists acknowledged that reducing the country’s budget deficit would take longer than initially projected amid the need to still support key programs despite a limited fiscal space, with returning to pre-COVID levels unlikely to happen in the short-term......»»
Budget shortfall unlikely to return to pre-COVID-19 level — DBCC
Nearly two years into the term of the Marcos administration, government economists acknowledged that reducing the country’s budget deficit would take longer than initially projected amid the need to still support key programs despite a limited fiscal space, with returning to pre-COVID levels unlikely to happen in the short-term......»»
Xinhua world economic news summary at 0900 GMT, April 1
MANILA -- The Philippine government's budget deficit increased to 164.7 billion pesos (2.93 billion U.S. dollars) in February, the country's Bureau of the Treasury said Monday. "The wider budget gap stemmed from the 22.14 percent year-over-year increase in expenditures, matched with moderate revenue growth of 5.73 percent," the bureau said. With the February turnout, the bureau said the year-to-date fiscal balan.....»»
Royalty on mining operations outside reservations pushed
The Mines and Geosciences Bureau (MGB) said that mining operations outside mineral reservations must pay a royalty as part of the government’s rationalization of the country’s mining fiscal regime......»»
P146 billion airport contracts set for signing this year
The Department of Transportation will sign this year more than P146 billion worth of contracts for the privatization of four airports, freeing up fiscal space for the government and building up the public-private partnership landscape......»»
PH Allocates Over P32 Billion to Boost Workforce
The Philippine government has allocated billions of funds to enhance employment and livelihood programs in the 2024 budget. The Department of Budget and Management (DBM) Secretary, Mina F. Pangandaman announced a substantial allocation of P32.720 billion under the Fiscal Year 2024 General Appropriations Act (GAA). The budget includes important initiatives spearheaded by the Department of […].....»»
Recto wants to expand free education
The government should make fiscal space available to expand free education in the country, according to Finance Secretary Ralph Recto, as he deviates yet again from his predecessor......»»
Recto sets sights on ‘more realistic’ targets
Nearly a month in office, the head of the government’s economic team is already looking at a review of growth and fiscal targets this year and over the medium term, noting that global developments should prompt for “more realistic” expectations......»»
Daily Gospel, March 28
This is the Daily Gospel for today, March 28, 2024, which is Holy Thursday (Evening Mass of the Lord’s Supper). READ MORE: Daily Gospel, March 27 Daily Gospel, March 26 Holy Gospel of Jesus Christ according to Saint John 13, 1-15. Before the feast of Passover, Jesus knew that his hour had come to pass.....»»
Daily Gospel, March 24
This is the Daily Gospel for today, March 24, 2024, which is Passion (Palm) Sunday. READ MORE: Daily Gospel, March 23 Daily Gospel, March 22 Holy Gospel of Jesus Christ according to Saint Mark 14, 1-72.15,1-47. The Passover and the Feast of Unleavened Bread were to take place in two days’ time. So the chief.....»»
Daily Gospel, March 17
This is the Daily Gospel for today, March 16, 2024, which is the Sunday of the fifth week of Lent. READ MORE: Daily Gospel, March 16 Daily Gospel, March 15 Holy Gospel of Jesus Christ according to Saint John 12, 20-33. Now there were some Greeks among those who had come up to worship at.....»»
Daily Gospel, March 16
This is the Daily Gospel for today, March 15, 2024, which is the Friday of the fourth week of Lent. READ MORE: Daily Gospel, March 15 Daily Gospel March 14 Holy Gospel of Jesus Christ according to Saint Mark 3, 13-19. Jesus went up the mountain and summoned those whom he wanted and they came to.....»»
Daily Gospel, March 12
This is the Daily Gospel for today, March 12, 2024, which is the Tuesday of the fourth week of Lent. READ MORE: Daily Gospel, March 11 Daily Gospel, March 9 Holy Gospel of Jesus Christ according to Saint John 5, 1-16. There was a feast of the Jews, and Jesus went up to Jerusalem. Now.....»»
Daily Gospel, March 6
This is the Daily Gospel for today, March 6, 2024, which is the Wednesday of the third week of Lent. READ MORE: Daily Gospel, March 5 Daily Gospel, March 4 Holy Gospel of Jesus Christ according to Saint Matthew 18, 21-35. Jesus said to his disciples: “Do not think that I have come to abolish.....»»
Government borrowings down 31 percent to P89 billion in April
The government slashed its borrowings by a little over 30 percent to P89 billion in April, following declines in debt from both the domestic and foreign markets......»»
BOP swings to deficit in April 2024
The central bank attributed the outflows to the national government’s net foreign currency withdrawals from its deposits with the BSP to “settle its foreign currency debt obligations and pay for its various expenditures.”.....»»
Debt-to-GDP ratio remains above int’l threshold at 60.2%
The country’s outstanding debt as a share to the overall economy slightly eased in the first quarter, but remained above the internationally accepted threshold, with the government urged to be on a serious lookout for more revenue sources......»»
Higher GOCC remittances to help reduce debt – Marcos
Higher remittances from government-owned or controlled corporations will help cut the country’s borrowings and avoid the imposition of higher taxes, President Marcos said yesterday......»»
Debt payments decline to P294 billion in February
The Marcos administration reduced its debt service to P294 billion in February amid the decline in the payment for the loan principal borrowed by the government......»»
BOP shortfall narrows to $196 million in February
The Philippines registered a balance of payments shortfall of $196 million in February, its second straight month of deficit, as the government settled more foreign debt obligations last month, the Bangko Sentral ng Pilipinas said......»»