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Tag: Elijah Joseph C. Tubayan
THE DEPARTMENT of Finance (DoF) said that Chinese loans and grants were not employed as leverage to arrive at a joint energy exploration agreement in the South China Sea.
THE FINANCE CHIEF wants to know how the World Bank and International Monetary Fund (IMF), during their annual meetings this week, will address the global market turbulence brought by rising oil prices, the trade conflict in the world’s most advanced economies, and tightening monetary conditions.
THE PHILIPPINE and Japanese governments signed on Monday the supplemental loan agreement for the ongoing New Bohol Airport expansion project on Panglao Island.
A REGIONAL research group has slashed its growth forecast for the Philippines, noting that surging inflation and consumer pessimism will likely weigh on household spending and dampen overall expansion.
THE WORLD BANK is preparing a $300-million loan for the government designed to improve revenue and spending efficiency.
THE PHILIPPINES is among the main sources of “financial stress” within the Association of Southeast Asian Nations (ASEAN), which became elevated in early 2018, although still below historical levels.
THE WORLD BANK has downgraded its 2018 economic growth forecast for the Philippines -- making it the third multilateral lender to do so since last week due to heightened external uncertainties and surging inflation locally -- but overall prospects should remain “strong” enough for it to maintain the country’s projections for 2019-2020.
THE DEPARTMENT of Finance (DoF) said that the government will lose some P40 billion in revenue if it suspends the second tranche of the fuel tax hike next year, adding that it has yet to draft the implementing rules on how the tax will be suspended and reinstated.
THE DEPARTMENT of Budget and Management (DBM) said it released 94% of the 2018 budget as of the first nine months of the year.
THE UK’s Vodafone Group PLC has discussed with the government the possibility of participating in the selection process for the telecommunications industry’s so-called “third player,” Budget Secretary Benjamin E. Diokno said following a visit to London.
ABOUT 88.2% of road projects connecting to seaports and airports scheduled for this year have entered the construction stage, based on the government’s satellite and geo-tagging project-tracking system.
THE DEPARTMENT of Finance (DoF) has dismissed five Customs officials in the first eight months of the year, over “false declarations” in their Statements of Assets, Liabilities and Networth (SALN), and penalized more from other revenue agencies over administrative violations.
IMPROVEMENT of Philippine manufacturing activity remained “modest” in September, according to a monthly survey IHS Markit conducted for Nikkei, Inc., but “robust” domestic consumption, a “solid” rise in new orders and “upbeat business confidence” offset muted foreign demand and “strong” inflation to propel the country back to fore among major economies of the Association of Southeast Asian Nations (ASEAN).
THE GOVERNMENT will maintain its fiscal deficit ceiling at about 3% of Gross Domestic Product (GDP) despite concerns expressed by the International Monetary Fund (IMF), noting that higher-than-expected government revenue will keep the deficit in check.
THE Department of Budget and Management (DBM) has committed to support green infrastructure and open spaces in cities with an annual allocation.
THE GOVERNMENT is still bullish on economic growth prospects despite downgrades to the economic outlook issued by multilateral institutions and ratings agencies.
THE INTERNATIONAL Monetary Fund (IMF) lowered its gross domestic product (GDP) growth projection for the Philippines this year, amid downside risks from “rising inflation, continued rapid credit growth, higher US interest rates and US dollar, volatile capital flows, and trade tensions.”
THE national government’s outstanding debt rose to P7.10 trillion in August after the government issued yen bonds, with the value of external liabilities rising due to peso’s depreciation.
THE SENATE Ways and Means committee on Tuesday began discussions on corporate tax reform, zeroing in on potential risk to jobs when the government removes fiscal incentives deemed redundant.
SENATOR Antonio F. Trillanes IV on Tuesday afternoon posted a P200,000-bail before the Makati Regional Trial Court (RTC) Branch 150 after his arrest at the Senate.
THE Department of Budget and Management (DBM) said the government tapped P134.7 million from the quick response fund (QRF) to aid victims of typhoon Ompong (international name: Mangkhut).
THE GOVERNMENT has approved the funding for feasibility studies for two water management projects and a transportation project, tapping a 2018 special-purpose fund.
A PROPOSAL to give government a bigger share in mining revenues goes back to square one, as House Speaker Gloria M. Arroyo on Thursday asked the Department of Finance (DoF) to submit a new draft that would consider inputs from miners.
THE ASIAN Development Bank (ADB) said on Thursday that its Board of Directors has approved a $7.8-billion lending pipeline for 2018-2021, ramping up support for transport infrastructure, local governance and social development in line with the Duterte administration’s priorities.
THE NATIONAL Economic and Development Authority (NEDA) said it does not expect a state of calamity declaration, which will trigger price freezes, to lead to the hoarding of goods and their removal from the market.
THE PHILIPPINE ECONOMY is ready to face headwinds from rising inflation and further depreciation of the peso which have intensified in recent months, economic managers said on Tuesday, saying the government has all the tools it needs to handle these “temporary” challenges.
THE National Economic and Development Authority (NEDA) on Monday said that the Cebu bus rapid transit (BRT) project needs to go ahead as planning for its implementation is in the advanced stages, but the government continues to be open to a railway project in the future.
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