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SSS Pension Reserve Fund hits ₱1 trillion for the first time in history
The Social Security System’s (SSS) Pension Reserve Fund has reached ₱1 trillion for the first time in the institution’s history, giving millions of Filipino private sector workers confidence that their retirement funds are secure, Finance Secretary Frederick Go said Saturday. Go made the…
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…
After 40 years as lower-middle income, Philippines finally elevated to upper-middle income status
The Philippines has been elevated to upper-middle income status by the World Bank for the first time in 40 years, ending a classification as lower-middle income that has persisted since 1986, Finance Secretary Frederick Go said Saturday. Go made the disclosure in an interview on DZRH News program…
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…
Landbank, SSS, GSIS all post record incomes under Marcos, generating ₱147B in dividends this year: DOF
The three major government financial institutions—Landbank, the Social Security System (SSS), and the Government Service Insurance System (GSIS)—all posted their highest-ever net incomes under the Marcos administration, generating a combined ₱147 billion in dividends for the national government…
First time in PH banking: major banks now offer free digital transfers
Major banks in the Philippines now offer free digital fund transfers following Landbank’s decision to eliminate digital transaction fees, a move that Finance Secretary Frederick Go said started a chain reaction across the entire banking system and benefited millions of Filipinos who pay for goods…
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…
How the ‘CREATE MORE’ Law is making the Philippines a top destination for foreign capital under the Marcos administration
Republic Act No. 12066, or the “CREATE MORE” law, has expanded investment incentives to make the Philippines more competitive against regional peers including Vietnam, Thailand, and Indonesia in attracting foreign direct investment, with the resulting job creation keeping unemployment relatively…
Marcos administration collects record ₱501B in GOCC dividends, surpassing all previous administrations
The Marcos administration has collected ₱501 billion in dividends from government-owned and controlled corporations in just four years, surpassing the combined total of three previous administrations and setting a new record in the history of Philippine public finance, Finance Secretary Frederick…
Bureau of Customs on track for historic ₱1 trillion collection target, already ₱11.4 billion above revised goal
The Bureau of Customs (BOC) is on track to hit its historic ₱1 trillion collection target this year, with January to July collections already running ₱11.4 billion above the revised target and July alone posting a 12.5% growth rate compared to the same month last year, Customs Commissioner Ariel…
BIR breaks all-time record with over ₱3 trillion in collections — first time in Philippine history
The Bureau of Internal Revenue (BIR) collected over ₱3 trillion in a single year for the first time in the entire history of the Philippine Republic, Finance Secretary Frederick Go said Saturday, describing the milestone as a record-breaking performance that reflects years of sustained reform in…
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…
WHO calls for urgent action: Global cancer cases may hit 35 million by 2050
The World Health Organization has sounded the alarm over a projected surge in global cancer cases, warning that annual diagnoses could reach nearly 35 million by 2050, up from 20.6 million today, unless governments take immediate action to strengthen care systems. In its Global Status Report on…
Sustainable, healthy diets and lesser food waste could cut farmland use, study says
A landmark study has found that adopting sustainable diets and cutting food waste by half could significantly reduce global farmland use, lower agricultural emissions, and drive a major economic shift away from livestock production toward plant-based crops. The study, published in the journal…
Australia politician admits texting ‘my job is boring’ during meeting
An Australian politician has been left red-faced after being forced to admit Thursday he texted “my job is boring” and an expletive to a contact during a meeting. Mark Parton — who leads the opposition Liberal Party in the Australian Capital Territory — was subject this week to a complaint…
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