Secretary Dominguez’s Message to PRRD
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June 13, 2022
Finance Secretary Carlos Dominguez III and Asian Development Bank (ADB) Deputy Director General Winfried Wicklein exchange their copies of two loan agreements aimed at supporting the Philippines’ climate action agenda and further developing the domestic capital markets as a source of financing for its infrastructure modernization program.
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June 12, 2022
Dominguez proposes ADB-backed intra-ASEAN exchange of information on climate action programs
Finance Secretary Carlos Dominguez III has urged the Asian Development Bank (ADB) to spearhead an ASEAN-wide initiative that would enable member-countries of the regional organization to exchange information and best…
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June 12, 2022
FIRB: Concentrix move to waive tax perks for WFH arrangement shows such incentives not a priority for ecozone investors
Department of Finance (DOF) Assistant Secretary Juvy Danofrata has said that the FIRB welcomes the decision of Concentrix to give up its tax perks in exchange for a continued hybrid…
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June 10, 2022
FSCC launches Systemic Risk Crisis Management Framework
The Financial Stability Coordination Council (FSCC) recently released the Systemic Risk Crisis Management (SRCM) Framework in line with the FSCC’s mandate to continuously enhance the resilience of the country’s financial system.
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June 9, 2022
PHL joins call on global community to assist developing countries in containing financial stability risks, accelerating pandemic recovery
The Philippines has supported the call for the international community to assist low- and middle-income countries in containing their financial stability risks, and achieving green, resilient and inclusive growth as…
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June 9, 2022
Government to effect power curtailment to MAGELCO, power cut to LASURECO for failure to settle over P16-B unpaid electricity bills
The Department of Finance (DOF) has instructed the Power Sector Assets and Liabilities Management Corp. (PSALM) to strictly enforce its credit and collection policy against Maguindanao Electric Cooperative, Inc. (MAGELCO)…
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June 8, 2022
FIRB discovers Gov’t lost billions of pesos in tax breaks for defunct Hanjin shipyard at Subic freeport
The Fiscal Incentives Review Board (FIRB) Secretariat has reported that the now-defunct Hanjin Heavy Industries and Construction Philippines Inc. (HHIC-Phil) received tax incentives amounting to P370 million in 2015 alone.…
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June 7, 2022
DOF: National government debt would have reached P15.4-T without Duterte administration’s fiscal discipline
Department of Finance (DOF) Chief Economist and former Undersecretary Gil Beltran has said that the debt of the national government (NG) would have reached P15.4 trillion in 2022, higher by…
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June 6, 2022
PH, fastest-growing ASEAN economy (DOF anniversary supplement with PDI, June 5, 2022)
As reported by the Philippine Statistics Authority, the country was able to attain a strong GDP (gross domestic product) growth of 8.3 percent in the first quarter of 2022, surpassing the pre-pandemic levels.
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June 5, 2022