The November 2022 Labor Force Survey (LFS) recorded the lowest unemployment rate since April 2005 at 4.2 percent. This is a decrease from the 4.5 percent a month ago, and…
The country’s full-year inflation rate for 2022 reached 5.8 percent, consistent with the Development Budget Coordination Committee (DBCC)’s full-year inflation assumption as December 2022 inflation stood at 8.1 percent. The…
The Philippines and China signed on January 4, 2023 six bilateral agreements and one project completion document to support the financing of key projects during President Ferdinand Marcos Jr.’s three-day…
President Ferdinand R. Marcos, Jr. has approved the extension of Executive Order (EO) 171 on reduced import duty rates through EO 10, which was issued on December 29, 2022. EO…
The external debt of the National Government (NG) slightly decreased by PHP69.6 billion or 1.6 percent to PHP4.2 trillion in end-November 2022 due to a stronger Peso, and net repayment.…
By Benjamin E. Diokno Secretary of Finance After the highly unprecedented pandemic, followed by Russia’s invasion of Ukraine and a weakening China growth, the global economy is likely to face…
Majority of taxpayers will receive further personal income tax cuts beginning January 1, 2023 pursuant to Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law, which,…
The Bureau of the Treasury (BTr)’s November 2022 cash operations report showed positive results as the National Government (NG) budget deficit decreased to PHP123.9 billion, which is 3.7 percent or…
Finance Secretary Benjamin Diokno stressed the vital role finance ministers play in integrating green solutions into global economic recovery and development. “[M]inistries of Finance across the globe play a vital…
The Department of Finance (DOF) underscored the importance of public access to local government financial data in monitoring and improving the performance of local government units (LGUs). “We acknowledge the…
