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The value of goods exported and imported by the Philippines in August fell by more than a fifth due to still weak global demand caused by the COVID-19 pandemic. The latest preliminary external trade data released by…
MANILA, Philippines — Members and pensioners with outstanding loans from the Government Service Insurance System (GSIS) will enjoy a two-month payment moratorium starting November, the state-run pension fund said. In an advisory, the GSIS said the 60-day…
MANILA, Philippines — A pandemic-induced drop in revenues while the government spent more to fight COVID-19 widened the budget deficit by 1,510.6 percent year-on-year to P40.1 billion in August, the government reported on Wednesday, September 23, 2020.…
Following the issuance of a record amount of retail treasury bonds (RTBs) to small investors despite a pandemic, the outstanding securities sold by the government in the local market climbed to a new high of P6.4 trillion…
To better fight COVID-19 and fast-track recovery from the pandemic-induced recession, the government plans to spend a bigger amount of P2.33 trillion during the second half of this year. The latest quarterly fiscal program for 2020 released…
The unemployment rate in July likely exceeded a fifth of the labor force as more firms shed jobs during the prolonged COVID-19 lockdown, Dutch banking giant ING said. It projected the Philippines’ jobless rate hitting a new…
At least a dozen more loans worth a total of $4.02 billion (over P195 billion) will be secured by the Philippines this year and in 2021 to finance response to and recovery from the health and socioeconomic…
Another loan worth $300 million has been extended by the Asian Development Bank (ADB) to the Philippines, its host-country, this time to make financial services more accessible to Filipinos. In a statement on Friday, the ADB said…
The World Bank will approve financing for another $1.9 billion in projects in the Philippines before yearend to help the economy recover from the COVID-19-induced recession, the Department of Finance (DOF) said on Friday. Specifically, the World…
MANILA, Philippines–The Philippine economy contracted by a record 16.5 percent during the second quarter — at the height of the longest and most stringent COVID-19 lockdown in the region that had put a halt to 75 percent…
MANILA, Philippines — While cigarettes and liquor are enjoying brisk sales online in the time of pandemic and are delivered to the comforts of home of buyers, who may include minors, the Department of Finance (DOF) wants…
The Department of Finance (DOF) did not buckle to calls not to force online sellers to register with the Bureau of Internal Revenue (BIR) and pay taxes while the country is battling the new coronavirus disease (COVID-19)…
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