Dividends remitted by government-owned and -controlled corporations (GOCCs) already reached a record amount of P44.69 billion as of mid-June this year, with the Department of Finance (DOF) expecting the total for 2019 to easily surpass the P50-billion mark.
Read MoreThe Duterte administration was able to reverse the government’s chronic underspending on infrastructure, which averaged only 2.8 percent of the country’s Gross Domestic Product (GDP) for the past half century, by doubling it to 5.5 percent last year, powered by a steady revenue stream from its bold tax reform program.
Read MoreFinance Secretary Carlos Dominguez III has proposed that the President’s economic team and the Congress meet as often as weekly to enable both the Executive and Legislative branches to thoroughly discuss and move ahead on urgent measures that would truly benefit the people during the second half of the Duterte presidency.
Read MoreWorld Bank estimates show the Philippine economy will grow at a more rapid pace than Asia’s other regional economic powerhouses, such as China and Malaysia, during the remaining half of the Duterte presidency, given the country’s strong macroeconomic fundamentals and sustained implementation of fiscal and tax reforms.
Read MoreFinance Secretary Carlos Dominguez III has directed the Privatization Management Office (PMO), and the Philippine Deposit Insurance Corp. (PDIC) to discuss with state-run banks and the Commission on Audit (COA) ways to relax stringent auditing rules that have long hobbled government efforts to dispose of its idle assets.
Read More