Tag: bworldonline
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NG debt hits new high of P15.48-T
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THE NATIONAL Government’s (NG) outstanding debt jumped to a fresh high of P15.48 trillion as of end-June, reflecting the impact of the peso depreciation against the US dollar, the Bureau of the Treasury (BTr) said.
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Philippines a clear laggard in tourism recovery
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THE PHILIPPINES is still lagging behind its Southeast Asian neighbors in its tourism recovery, as Chinese tourists continue to stay away, Bank of America (BofA) Global Research said. “The Philippines is lagging considerably behind, with tourist arrivals below 70% of 2019 levels,” it said in a report dated July 29.…
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Gov’t allots P1.28-T for infrastructure in 2025
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THE NATIONAL Government (NG) is expected to spend P1.28 trillion on infrastructure and capital outlays next year, the Department of Budget and Management said. Under next year’s Budget of Expenditures and Sources of Financing, infrastructure and other capital outlays are expected to jump by 3.04% from P1.24 trillion this year.…
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House to start budget deliberations next week
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THE HOUSE of Representatives will start hearings on the proposed P6.352-trillion national budget for 2025 next week so it can meet its self-imposed September deadline for third reading approval, a lawmaker said on Tuesday. The House seeks to send a copy of the approved budget bill to the Senate by…
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Fridays Puerto Galera announces plans to upgrade resort facilities
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The multimillion expansion project is set to redefine the experience of guests by merging modern conveniences set within a stunning natural backdrop Fridays Puerto Galera, a leading luxury resort found inside the lagoons of the UNESCO-protected Muelle Bay in Boquete Island, Mindoro, is gearing up to unveil a multi-million expansion…
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NG debt to rise to P17.35-T in 2025
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THE NATIONAL GOVERNMENT’S (NG) outstanding debt is projected to hit a record P17.35 trillion at the end of 2025, the Department of Budget and Management (DBM) said. The 2025 Budget of Expenditures and Sources of Financing showed the NG’s debt stock is expected to increase by 8.08% from the projected…
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DBM submits P6.352-T national budget to House
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THE DEPARTMENT of Budget and Management (DBM) on Monday submitted to the House of Representatives its proposed P6.352-trillion national budget for 2025, which increases allocations for education by less than 1% and for defense by 6.4%, while more than doubling the budget for transportation.
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Senate ratifies bicam report on 12% VAT on foreign digital service providers
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THE SENATE on Monday adopted the bicameral conference committee report on a bill imposing a 12% value-added tax (VAT) on digital service providers without a physical presence in the Philippines such as e-commerce giants Amazon, Shein and Taobao. The reconciled version of the bill reinforces the Bureau of Internal Revenue’s…
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Philippines ranks 4th in Southeast Asia for IPO proceeds in first half
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THE PHILIPPINE STOCK Exchange (PSE) ranked fourth in Southeast Asia for proceeds generated from initial public offerings (IPOs) in the first half of the year, according to a report by multinational professional services network Deloitte. “Despite only having two new listings during the first half of 2024, the Philippines’ capital…