CEBU CITY, Philippines — A Cebu-based production company publicly accused the organizers of the Sinulog Festival of leaving suppliers unpaid for more than two years. While organizers touted multi-million peso budgets, increased cash prizes, and grand productions…
MANILA, Philippines — Sara Duterte accused Ferdinand Marcos Jr. and his administration of being responsible for the increase in the country’s debt and the rising unemployment rate among Filipinos. “As expected, because the entire administration is not…
MOSCOW — Russian President Vladimir Putin on Saturday signed a law that allows those who sign up to fight in Ukraine to write off unpaid debts worth almost $100,000, the government announced. The new legislation will be…
The Philippine government’s debt reached a record P15.89 trillion at the end of September, as officials borrowed more locally and internationally to cover the budget deficit. The Bureau of the Treasury reported on Wednesday that this marked…
CEBU CITY, Philippines — The Supreme Court (SC) has ordered Cebu Gov. Gwendolyn Garcia to pay around $700,000 (roughly P39 million in today’s rates) for failing to settle a debt she obtained from the Hongkong and Shanghai…
Government debt reached a new high of P15.69 trillion at the end of July, mainly due to new government securities and project loans. The increase was slightly offset by a stronger peso, according to the Bureau of…
The national government’s total debt dropped to P14.93 trillion as of the end of March, down 1.67 percent from the previous month’s P15.12 trillion. This was because more money was repaid for domestic government loans than was…
MANILA, Philippines — The government’s outstanding debt rose in January due to a weak peso and after the Marcos administration borrowed more from local creditors than what it paid for its maturing liabilities, the Bureau of the Treasury (BTr)…
MANILA, Philippines — The government’s debt reached a new record high of P14.51 trillion in November 2023, increasing by P27.92 billion from the previous month. This rise was influenced by higher borrowing costs and increased inflation, leading…
Now that the first-quarter growth figures are out, I thought I’d take a closer look at how the economy is growing. The report was a surprise to many, as most analysts had expected the gross domestic product…
MANILA, Philippines—As sabong (cockfight) went online in 2018, the House of Representatives already expressed its concerns, but as COVID-19 lockdowns were implemented in 2020, the craze even went wilder. It was in 2020 when Mike Tabelina, 32,…
As of today, our government owes money equivalent to nearly two-thirds of all incomes generated in the economy in a year. The total debt owed by the national government as of the third quarter stood at P11.92…
