The share of the Philippines’ general government (GG) debt to gross domestic product (GDP) went down anew to 34.6 percent at end-December from year-ago’s 36.2 percent, an indication the country’s robust economy.
Read MoreFinance Secretary Carlos Dominguez III said the Duterte administration is looking forward to working with the China-initiated Asian Infrastructure Investment Bank (AIIB), which has already made “great strides” in providing financial support to its partners even if it has been in operation for just two years.
Read MoreStandard Chartered Bank has expressed interest in providing financial and technical assistance to the Philippines in implementing the proposed railway system in Mindanao under the Duterte administration’s ambitious “Build, Build, Build” infrastructure program.
Read MoreMoney sent by overseas Filipino workers (OFWs) to the Philippines are not covered by the proposed Comprehensive Tax Reform Program (CTRP) of the Department of Finance (DOF) as the government has no legal jurisdiction over remittances sent from abroad.
Read MoreThe Philippines stands to benefit from China’s One Belt, One Road (OBOR) Initiative, particularly in the revival of the maritime silk route, as it dovetails with the infrastructure buildup plan of the Duterte administration and will help sharpen the country’s competitiveness in the global trade arena, according to Finance Secretary Carlos Dominguez III.
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