MANILA, Philippines — Public spending on infrastructure declined in the first two months due to high base effects caused by the timing of disbursements for accounts payables, according to the Department of Budget and Management (DBM). Based on DBM data, infrastructure spending from January to February dropped by 20.7 percent to P93.9 billion from P118.4 […]
Read MoreMANILA, Philippines — Fresh funds will be funneled by the government to two flagship programs meant to assist formal and informal workers displaced by the coronavirus disease-2019 (COVID-19), one of which was earlier suspended for lack of funds. An additional 530,000 workers will get assisted by the combined P2.5 billion new allocations for the COVID-19 adjustment […]
Read MoreMANILA, Philippines — Caught off-guard, the Duterte government lost its chance to ramp up infrastructure spending before the coronavirus disease-2019 (COVID-19) outbreak hit, with capital outlays down as of February. In a spending report released Tuesday, the Department of Budget and Management (DBM) said capital outlays inched down 1.8% year-on-year to P60.1 billion in February. […]
Read MoreA little over a month ago, I was in the car stuck in traffic when I heard the President announce the local community quarantine. I remember suddenly becoming stressed over whether we had enough to tide us over for the period of the quarantine. My grocery run normally coincides with payday, thus, I knew that […]
Read MoreMANILA, Philippines — Stuck at home during the enhanced community quarantine, Mark Andrew Francisco, 30, from Rizal province has resorted to paying his bills online, something he has not tried doing before. “I’ve always preferred lining up in a branch to pay my dues because my payments get credited real-time, unlike if you pay online, […]
Read MoreMANILA, Philippines — The Duterte administration braved financial market volatility and raised $2.35 billion in funding from fresh issuance of US dollar-denominated global bonds, proceeds of which will be used to respond to the coronavirus outbreak. In a statement on Tuesday, National Treasurer Rosalia de Leon said the government raised $1.35 billion from floating 25-year […]
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