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‘Taxpayer-centric’ BIR recognized as Top 2 Most Improved Agency by ARTA
The Bureau of Internal Revenue (BIR) has been recognized by the Anti-Red Tape Authority (ARTA) as the Top 2 Most Improved Government Agency, a milestone BIR Commissioner Charlito Mendoza said Saturday reflects the bureau’s deliberate shift toward a taxpayer-friendly, service-oriented approach.…
PH debt-to-GDP at 57-58%, safely below World Bank’s 70% danger threshold: DOF chief
The Philippines’ general government debt-to-GDP ratio stands at 57 to 58%, well below the World Bank’s recommended maximum threshold of 70%, giving the government ample room to borrow for public investment without compromising fiscal stability, Finance Secretary Frederick Go said Saturday. Go made…
A- and BBB+ across the board: PH achieves investment-grade ratings from all 5 global agencies
The Philippines has received investment-grade credit ratings from all five major global credit rating agencies, with two awarding an A- rating and three awarding BBB+, Finance Secretary Frederick Go said Saturday. Go made the disclosure in an interview on DZRH News program Special on Saturday on…
Infrastructure spending jumps from 2% to 5% of GDP under Marcos: DOF official calls it PH’s biggest growth driver
Infrastructure spending has surged from 1 to 2% of GDP to 5% or more under the Marcos administration, representing the single biggest driver of the Philippines’ above-average economic growth of 5.8% over the past four years, Finance Undersecretary Joven Balbosa said Saturday. Balbosa made the…
The Philippine economy grew twice as fast as the world under Marcos, 5.8% average GDP growth in four years: DOF
The Philippine economy grew at an average of 5.8% annually over the past four years under President Ferdinand Marcos Jr., more than double the global average of 2.5% to 3%, Finance Secretary Frederick Go said Saturday. Go made the disclosure in an interview on DZRH News program Special on Saturday…
For the first time, PH education spending exceeds 4% of GDP—meeting UNESCO’s recommended standard
The Philippines has exceeded 4% of gross domestic product in education spending for the first time, entering the 4 to 6% range recommended by UNESCO as the best practice for a developing country, Education Undersecretary Edson Byron Sy said Saturday. Sy made the disclosure in an interview on DZRH…
DepEd budget hits ₱1.012 trillion for the first time under Marcos administration
The Department of Education (DepEd) has received a budget exceeding ₱1 trillion for the first time in its history, with Undersecretary Edson Byron Sy confirming the agency received an allocation of ₱1.012 trillion under the Marcos administration. Sy made the disclosure in an interview on DZRH News…
New classrooms get ₱65-billion under DepEd’s historic ₱1-trillion budget under Marcos
The Department of Education (DepEd) has allocated ₱65 billion specifically for new classroom construction under its historic ₱1.012 trillion budget, the largest classroom infrastructure investment in the department’s history, Undersecretary Edson Byron Sy said Saturday. Sy made the disclosure in…
DSWD budget grows from under ₱200B to ₱260-270B under Marcos admin
The Department of Social Welfare and Development’s (DSWD) budget has grown from less than ₱200 billion when the Marcos administration began to ₱260 to ₱270 billion today, with the department consistently spending its entire allocation due to the high demand for social services, Secretary Rex…
DSWD’s crisis assistance budget triples to ₱63 billion under Marcos admin
The budget for the Department of Social Welfare and Development’s Assistance to Individuals in Crisis Situation program has tripled under the Marcos administration, growing from ₱18 to ₱20 billion to ₱63 billion now, Undersecretary Pinky Romualdez said Saturday. Romualdez made the disclosure in an…
U.S. imposes new 12.5% tariff on Philippine exports
The United States has imposed new tariffs of 12.5% on Philippine exports, citing the country’s alleged failure to adopt sufficient safeguards against goods produced using forced labor. The decision, announced Friday (Manila time) by the Office of the United States Trade Representative, followed an…
Marcos approves ₱300M budget for ube industry as DA eyes world No. 1 status
President Ferdinand Marcos Jr. has approved ₱300 million in additional funding for the Philippine ube industry for 2027, as the Department of Agriculture (DA) sets its sights on making the Philippines the world’s top ube producer, Agriculture Secretary Francisco “Kiko” Tiu Laurel said Saturday.…
Agriculture budget doubled under Marcos, NFA funded for infrastructure first time since 1985
The Department of Agriculture’s budget has doubled from approximately ₱100 billion under the previous administration to ₱200 billion under President Ferdinand Marcos Jr., Agriculture Secretary Francisco “Kiko” Tiu Laurel said Saturday. Tiu Laurel made the statement in an interview on DZRH News…
BSP: Photocopying of peso bills is prohibited
The Bangko Sentral ng Pilipinas (BSP) has reiterated that photocopying or reproducing banknotes is strictly prohibited. The reminder comes after images of photocopied currency circulated online, following a viral statement by private prosecutor Atty. Amando Ligutan that “photocopy is now an…
El Niño heightens risk of global economic disruption: Fitch Ratings
Fitch Ratings has warned that a prolonged El Niño could heighten the risk of economic disruptions worldwide. “The formation of an El Niño weather phenomenon that is set to persist into early 2027 raises the risk of economic disruption in a range of sovereigns,” Fitch Ratings said. In a report, the…