MANILA, Philippines — The government has so far secured $7.76 billion in loans and grants from foreign lenders to finance measures that address the coronavirus disease 2019 or COVID-19 pandemic, the Department of Finance (DOF) said. Based on a report posted on the DOF’s website, the government has raised a total of $7.63 billion in […]
Read MoreMANILA, Philippines — The executive branch yesterday stood its ground that the economic stimulus packages proposed by Congress – including the P1.3-trillion ARISE Philippines bill – cannot be funded in the absence of new revenue sources. The House of Representatives passed on third reading last month the Accelerated Recovery and Investments Stimulus for the Economy […]
Read MoreMANILA, Philippines — The country’s balance of payments (BOP) posted a surplus for the second straight month, hitting a 16-month high of $2.43 billion in May as the national government borrowed more to soften the blow of the coronavirus disease 2019 or COVID-19 pandemic, Bangko Sentral ng Pilipinas (BSP) said. BSP Governor Benjamin Diokno said […]
Read MoreMANILA, Philippines — Manufacturing conditions in the country stabilized in June as manufacturers raised output for the first time since February, according to the latest IHS Markit Philippines Manufacturing Purchasing Managers’ Index (PMI). The headline manufacturing PMI for the Philippines rose from 40.1 in May to 49.7 in June, just below the neutral 50 mark […]
Read MoreTo fund coronavirus response efforts MANILA, Philippines — The Philippines has secured a loan of 50 billion yen (P23.5 billion) from the Japan International Cooperation Agency (JICA) to augment funds for the government’s coronavirus disease 2019 (COVID-19) response efforts. Finance Secretary Carlos Dominguez, on behalf of the Philippine government, and JICA chief representative Eigo Azukizawa […]
Read MoreMANILA, Philippines — The national government has released almost P375 billion in funds for the implementation of measures against the coronavirus disease 2019 or COVID-19 pandemic, the Department of Budget and Management (DBM) reported. According to the latest data on the DBM website, funds amounting to P374.89 billion have been transferred to state agencies and departments for […]
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