The government may reduce its non-infrastructure spending, once it suspends the second tranche of oil excise taxes, Finance Secretary Carlos Dominguez III said Monday.Dominguez, who leads the inter-agency Development Budget Coordination Committee, said cutting non-infra spending would be an option while the DBCC was looking for contingency measures so that infrastructure spending would not be affected by the […]
Read MoreThe Hanoitimes – The projects are estimated to cost US$83 million, financed with debt and equity. AC Energy will participate with at least 50% economic share. AC Energy, a wholly owned subsidiary of the Philippines’ Ayala Corporation, in partnership with AMI Renewables Energy, signed an energy performance certificate (EPC) and financing documents for the development of […]
Read MoreMANILA, Philippines — The contribution of rice to inflation multiplied tenfold this year amid issues on supply and importation, underscoring the need to implement reforms in the government’s agricultural policies, according to the Department of Finance (DOF). In his presentation to members of the Cabinet, Finance Secretary Carlos Dominguez said rice has become one of […]
Read MoreMANILA: Philippine finance secretary Carlos Dominguez said the economy would sustain growth exceeding 6% this year, as investment and infrastructure spending help counter the impact of higher interest rates. “We’re confident that we can weather the storms but we’re not complacent,” Dominguez said in an interview with Bloomberg Television in Bali yesterday, when asked about inflation. […]
Read MoreBangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. is persistent in his advocacy to reach out to the unbanked sector via the digitalization of banking and financial services and the expansion of the reach of financial institutions. The House of Representatives has joined this move by approving the Bangko sa Baryo bill which aims to […]
Read MoreMANILA, Philippines — The Philippines’ trade deficit persisted in August, the government’s statistics agency reported Wednesday, after exports’ sluggish performance failed to match imports’ accelerated growth pace. The country’s trade deficit stayed above $3 billion for five consecutive months to reach $3.513 billion in August from $3.546 billion shortfall posted in July. In August 2017, the trade gap was at […]
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