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Statement of Philippine Finance Secretary Cesar V. Purisima on the nomination of Janet Yellen to the Chairmanship of the Federal Reserve

"From the perspective of the Philippines, Ms. Janet Yellen is an excellent and worthy choice as successor to Chairman Ben Bernanke of the Federal Reserve. Her nomination is an historic…

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September 10, 2013

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Statement of Finance Secretary CESAR V. PURISIMA on the filing of House Bill 2765 by Rep. Luigi Quisumbing, otherwise known as Fiscal Incentives Rationalization Bill

"As part of our goal to institutionalize good governance through legislation, I would like to reiterate the Department's support for House Bill No. 2765, An Act Rationalizing the Grant and…

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September 9, 2013

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NG Budget Deficit at P53.22 billion for July 2013; Year-to-date deficit at P104.51 B

The National Government posted a deficit of P53.2 billion last July, bringing the year-to-date deficit to P104.5 billion, on track to meet the government program for the first three quarters…

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September 9, 2013

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January to July Fiscal Deficit at P105 billion

9 September 2013 Manila, Philippines – The National Government incurred a P53 billion deficit in July as higher government operating expenses paced higher than expected revenue collections. The July deficit…

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September 9, 2013

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PDIC’s sale of closed bank’s assets benefits 905 families in Laguna

The Philippine Deposit Insurance Corporation (PDIC), Liquidator of the closed Fortune Savings and Loan Association, Inc. (FSLAI), signed on June 14, 2013 a Memorandum of Agreement (MOA) with the Innovation…

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September 7, 2013

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Cebu Trader Charged For PhP 354 Million Rice Smuggling Attempt

In compliance with President Aquino’s order for the Bureau of Customs (BOC) to criminally charge suspected smugglers to keep them off the country’s ports, Customs Commissioner Ruffy Biazon today (August…

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August 15, 2013

News

BIR Collection for June 2013 Grew by Php 7.42 Billion

For the month of June 2013, the BIR collected Php88.76 billion in tax revenues, Php7.42 billion or 9.12% more than collections made in June 2012. For June 2013, collections from…

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August 15, 2013

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PhP 4.5 M Health Risk Used Clothing Seized by BOC

Three (3) twenty-footer container vans of “ukay-ukay” (used clothing) worth PhP 4.5 million and suspected to be illegally imported from the United States of America (USA) were seized recently by…

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August 14, 2013

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PDIC to continue processing claims of Rural Bank of San Fernando (Cebu), Inc. depositors

The Philippine Deposit Insurance Corporation (PDIC) announced that it will continue to receive and process deposit insurance claims from depositors of the closed Rural Bank of San Fernando (Cebu), Inc.…

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August 13, 2013

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National Government Achieves P21.9 Billion Budget Surplus in August

The National Government achieved a fiscal surplus of P21.9 billion, eight fold the P2.5 billion surplus in August 2012. Year-to-date, overall fiscal deficit stands at P82.6billion, in line with Government…

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August 11, 2013