budget | ABS-CBN News

PH books P66.8-B budget surplus in April, 2023 deficit dips

ABS-CBN News
Posted at May 29 02:14 PM

The Philippines posted a P66.8 billion budget surplus in April, bringing the cumulative deficit for the year lower by 34.7 percent at P204.1 billion. Read more »

Biden and McCarthy finalize US debt deal, say confident it will pass

Léon Bruneau, Agence France-Presse
Posted at May 29 08:41 AM

President Joe Biden and Republican leader McCarthy said that a final bipartisan deal to raise the US debt ceiling -- and avoid a cataclysmic default -- now heads to Congress, which will need to pass the agreement before the government starts running out of money. Read more »

Lawmakers slam DICT’s low budget utilization rate

ABS-CBN News
Posted at May 25 11:40 PM

Philippine lawmakers questioned why the country’s information and communications technology department is severely under utilizing its budget. Read more »

Biden and McCarthy call debt talks 'productive,' but no deal

Frankie Taggart, Agence France-Presse
Posted at May 23 09:21 AM

A top US Republican and President Joe Biden on both said their first one-on-one talks in months to avert a calamitous debt default were "productive," but that disagreements were still blocking any potential deal. Read more »

DOF: Gov’t eyes selling P1.5 billion in assets to boost revenues

Jekki Pascual, ABS-CBN News
Posted at May 22 10:55 AM

The Philippine government eyes selling more assets through privatization this year to generate revenues and address budget constraints. Read more »

Recession, millions of jobs lost if US defaults: Treasury

Agence France-Presse
Posted at May 15 01:29 AM

President Joe Biden's administration again warned Sunday of "catastrophic" consequences for the US economy including huge job losses if the country defaults. Read more »

Gov't workers to get midyear bonus starting May 15

ABS-CBN News
Posted at May 14 12:18 PM

Eligible government employees will be receiving their midyear bonus starting May 15, the Department of Budget and Management (DBM) said. Read more »

Lawmakers flag DOH for unspent funds

RG Cruz, ABS-CBN News
Updated as of May 04 11:31 PM

A lawmaker from the House of Representatives on Thursday flagged the Department of Health (DOH) for having a big undisbursed budget. Read more »

PLDT says tightening procurement rules after capex overrun

Jekki Pascual, ABS-CBN News
Posted at May 04 06:43 PM

PLDT said it has instituted reforms to prevent a repeat of the capex overrun and now has a very strict procurement process. Read more »

Budget deficit rises to P210 billion in March

ABS-CBN News
Posted at May 02 05:00 PM

The Philippines’ budget deficit climbed to P210.3 billion in March, which was 12 percent higher compared to the same month last year, the Bureau of Treasury said on Tuesday. Read more »

Cebu Pacific holds P199 seat sale

ABS-CBN News
Posted at Apr 26 03:03 PM

Cebu Pacific said it is offering seats for as low as P199 one way for domestic destinations. Read more »

DBCC keeps 6 to 7 percent 2023 growth target; sees higher inflation

ABS-CBN News
Posted at Apr 24 04:04 PM

Philippine economic managers maintained a growth target of 6 to 7 percent for 2023 despite a possible global slowdown but also raised the inflation forecast for the year. Read more »

Cebu Pacific relaunches Clark hub, adds more flights

ABS-CBN News
Posted at Apr 21 03:55 PM

Cebu Pacific has restarted its Clark hub by relaunching flights and increasing frequencies from Clark International Airport, the airline said on Friday. Read more »

Several PLDT execs resign, retire, including CFO

ABS-CBN News
Posted at Apr 17 12:31 PM

PLDT Inc said on Monday some of its executives, including its Chief Financial Officer, had resigned or opted for early retirement. Read more »

Red Cross to cut 1,500 jobs over funding crunch

Agence France-Presse
Posted at Apr 05 06:51 AM

The Red Cross announced Tuesday that it would cut 1,500 jobs over the next 12 months in a drive to slash costs due to to a funding crunch. Read more »

PH budget deficit hits P106.4 billion in February

ABS-CBN News
Posted at Apr 03 02:19 PM

The Philippines' budget deficit slightly rose to P106.4 billion in February from the P105.8 billion shortfall in the same period 2022. Read more »

DBM says funding 'enough' in oil spill aid in Mindoro

Job Manahan, ABS-CBN News
Posted at Mar 21 05:55 PM

Budget Secretary Amenah Pangandaman said government agencies addressing the oil spill are okay in terms of funding for their social services for now. Read more »

DBM says Marcos wants study on devolved LGU functions

Job Manahan, ABS-CBN News
Posted at Mar 21 04:47 PM

Some LGUs are not prepared for the high-impact projects that they will need to carry out once the Mandanas ruling takes effect, DBM said. Read more »

PH posts $895 million balance of payments deficit in February

ABS-CBN News
Posted at Mar 21 09:10 AM

The Philippines' overall balance of payments (BPO) posted a deficit of $895 million in February 2023, the Bangko Sentral ng Pilipinas said on Tuesday. Read more »

Smartphone brand champions nationwide inclusivity

narzo
Updated as of Mar 13 01:44 PM

Check out how this budget-friendly smartphone brand captured the hearts of Filipinos. Read more »