Latest in DOFThe Social Security System (SSS) and the Government Service Insurance System (GSIS) have launched micro loan programs offering emergency loans at 6% annual interest, providing a government alternative to informal lenders that charge as much as 10% per month, Finance Secretary Frederick Go said…
President Ferdinand Marcos Jr. announced during his fifth State of the Nation Address (SONA) that the income tax exemption threshold will be raised from ₱250,000 to ₱350,000, giving workers a maximum additional take-home pay of ₱17,500, while micro and small businesses that are losing money or…
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…
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…
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…
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…
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…
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 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…
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…
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…
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…
The Marcos administration will continue its fuel subsidy program for public utility vehicle operators for as long as oil prices remain elevated, with no fixed end date but projections running through the end of 2026, Malacañang said. The Office of the Executive Secretary (OES) said the Department…
Caloocan 2nd District Rep. Edgar “Egay” Erice blasted the Executive branch for allowing Congress to derail President Ferdinand Marcos Jr.’s fiscal priorities by diverting or altering some ₱1.45 trillion in the Chief Executive’s budget proposals for 2023, 2024 and 2025. In an interview on DZRH…
Caloocan 2nd District Rep. Edgar “Egay” Erice said the Executive Department should share the blame with Congress for allowing billions of pesos in questionable budget insertions to persist in recent years, warning that President Ferdinand Marcos Jr.’s legacy is now at stake. In an interview on…
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