Gov’t debt nears P13T; weak peso adds burden

Ben O. de Vera 09/05/2022

The national government’s outstanding debt inched closer to the P13-trillion mark, reaching a new high of P12.89 trillion in July due to additional local and foreign borrowings, aggravated by a weak peso. The latest Bureau of the…

No more COVID-related ‘ayuda’ in 2023 budget

Ben O. de Vera, Julie Aurelio 08/30/2022

MANILA, Philippines — The Marcos administration’s chief economic manager on Monday said there would be no more “ayuda” or doleouts related to the COVID-19 pandemic to be funded by the proposed P5.268-trillion 2023 national budget. “As the…

Pickup truck prices to rise as House okays excise tax

Ben O. de Vera 08/25/2022

Pickup trucks will soon become more expensive as the Lower House’s committee on ways and means on Wednesday, August 24, 2022, approved an expanded bill which included slapping excise taxes on this commercial vehicle segment. The removal…

SSS further extends pensioners’ proof-of-life compliance deadline to Oct. 31

Ben O. de Vera 07/04/2022

Manila, Philippines — The Social Security System (SSS), the state-run pension fund for private-sector workers, has further extended the deadline to comply with the proof-of-life scheme covering some pensioner-beneficiaries up to Oct. 31 of this year. In…

Don’t like your national ID pic? You can change it by yearend, says PSA

Ben O. de Vera 06/11/2022

MANILA, Philippines—Hazy photos and typos printed on newly delivered national IDs have gone viral on social media, prompting the Philippine Statistics Authority (PSA) to give those who wanted these corrected before yearend to do so and get…

P1.2 billion worth of Marcos assets auctioned off

Ben O. de Vera 05/30/2022

The Presidential Commission on Good Government (PCGG) has been unable to contribute to privatization revenues since last year up to April of this year, but the agency tasked to dispose of Marcos ill-gotten wealth could add about…

DBM releases P1.08 billion for health workers hit by COVID

Ben O. de Vera 05/16/2022

MANILA, Philippines — Frontliners and other personnel employed in health facilities who had been infected with COVID-19 this year can now expect to receive compensation from the Department of Health (DOH). The Department of Budget and Management…

PCGG plans Marcos asset sales this year to generate cash

Ben O. de Vera 05/10/2022

MANILA, Philippines — The Presidential Commission on Good Government (PCGG) during the first quarter of 2022 again failed to dispose of any assets related to alleged ill-gotten wealth of dictator Ferdinand Marcos and his cronies. But in a text…

Fuel marking yields P60.2B revenues for BOC in Q1

Ben O. de Vera 04/19/2022

MANILA, Philippines — The Bureau of Customs (BOC) collected P60.2 billion in import duties and other taxes slapped on oil products during the first quarter, on the back of a 4.7 billion liters of marked fuel. In a…

Chua: Gov’t offices can already shift to four-day workweek

Ben O. de Vera 03/17/2022

MANILA, Philippines—To save on gas, the country’s chief economist has urged a shorter workweek, possibly starting with government employees. Socioeconomic Planning Secretary Karl Kendrick Chua told President Rodrigo Duterte on Tuesday, March 15, 2022, that amid skyrocketing…

Oil firms set biggest increase in fuel prices

Ben O. de Vera, Karl R. Ocampo, Krixia Subingsubing, Leila B. Salaverria 03/15/2022

MANILA, Philippines — Local pump prices of gasoline and other petroleum products are rising at a pace never seen before and the Department of Energy (DOE) has warned consumers to brace for bigger increases. The DOE on…

Government cool to fare hike as fuel prices shoot up

Ben O. de Vera, Karl R. Ocampo, Nestor Corrales 03/08/2022

MANILA, Philippines — Despite the continued increase in fuel prices, the government is not inclined to grant the petition of public utility drivers for a P1 hike in transport fares. Undersecretary Rose Edillon of the National Economic and…

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