The Department of Finance (DOF) has so far taken punitive action against 14 officials and employees under its supervision and introduced reforms in the electronic reporting system for treasurers of local government units (LGUs), in line with President Duterte’s commitment to ensure transparency and accountability in government on his watch.
Read MoreFinance Secretary Carlos Dominguez III said the Duterte administration’s move to increase borrowings from the domestic debt market next year won’t crowd out micro and small enterprises, as a new law now provides for a mechanism that would allow these businesses to tap convenient, flexible and affordable loans through microfinance services.
Read MoreFinance Secretary Carlos Dominguez III said the Duterte administration will look “closely” at the Regional Comprehensive Economic Partnership (RCEP), given its new policy of moving the country swiftly towards economic integration with its fellow-members in the Association of Southeast Asian Nations (ASEAN) and major trade partners in Asia and the Pacific.
Read MoreThe Land Bank of the Philippines has committed to drastically increase lending to small farmers and fisherfolk from P37.9 billion to P115 billion over the next six years, in keeping with President Duterte’s goal of dispersing the benefits of growth to the countryside through the development of the farm sector.
Read MoreThe newly-formed anti-red tape team of the Department of Finance (DOF) has partnered with trade regulatory agencies to simplify the processes in securing documentary requirements for imports and exports, along with harmonizing their systems, as part of the Duterte administration’s efforts to ease the way of doing business and facilitate the country’s integration into the regional community of Southeast Asian economies.
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