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DBCC lowers 2021 growth forecast amid virus surge, lockdowns

ABS-CBN News
Posted at May 18 05:29 PM

The Development Budget Coordination Committee on Tuesday said it has lowered its growth forecast for the economy to 6 to 7 percent, from an earlier projection of 6.5 to 7.5 percent.   Read more »

Lawmakers seek P2,000 ‘sana all ayuda’ for each Filipino in P405-B Bayanihan 3

RG Cruz, ABS-CBN News
Updated as of May 04 09:50 AM

Several lawmakers are proposing to give 108 million Filipinos P2,000 each, regardless of social class or age, to help them deal with the COVID-19 crisis, under the P405.6-billion Bayanihan 3 bill.  Read more »

Budget deficit widens to P321.5-B in first quarter as spending rises, revenues fall

ABS-CBN News
Posted at Apr 27 02:30 PM

The Philippines’ budget deficit widened to P321.5 billion from January to March this year, after booking a P191.4 billion shortfall last month, the Bureau of Treasury said on Tuesday.  Read more »

IMF warns more funding needed to safeguard global economy

Heather Scott, Agence France-Presse
Posted at Apr 09 03:08 AM

US Treasury Secretary Janet Yellen pushed for "significant" new spending to ensure a solid rebound from the damage inflicted by the COVID-19 pandemic. Read more »

Finance chief says fiscal prudence prepared PH to handle new COVID-19 surge

ABS-CBN News
Posted at Mar 17 02:22 PM

Dominguez, who has been fending off lawmakers’ and economists’ calls for bigger stimulus spending, said the government was “never under the illusion that this challenge would be short.” Read more »

BSP rate cuts not enough anymore to revive economy: analyst

ABS-CBN News
Posted at Feb 10 04:45 PM

Reviving the Philippine economy will need more than interest rate cuts, an analyst said on Wednesday on the eve of the Bangko Sentral’s first monetary policy meeting this year.  Read more »

Wall Street climbs to record as fiscal aid bill signed

Chuck Mikolajczak, Reuters
Posted at Dec 29 09:31 AM

US stocks rallied on Monday, with each of Wall Street's main indexes closing at record levels as President Donald Trump's signing of a long-awaited $2.3 trillion pandemic aid bill increased optimism for an economic recovery. Read more »

Jan-Nov budget deficit exceeds P1T on weak revenue collection, spending uptick

ABS-CBN News
Posted at Dec 23 12:21 PM

MANILA - The Philippine budget gap from January to November breached the P1-trillion mark as tax and non-tax revenue collections remained weak amid slight improvement in government spending, the Bureau of the Treasury (BTr) said Wednesday.   Read more »

Japan cabinet OKs $707 billion new stimulus to fight virus

Kyodo News
Posted at Dec 08 10:00 PM

Japan's Cabinet approved Tuesday an additional economic package worth 73.6 trillion yen ($707 billion), including private funds to help ensure the coronavirus-stricken economy to stay on a recovery track. Read more »

Gov’t says fiscal stimulus enough despite forecasting worst post-war recession

ABS-CBN News
Posted at Dec 03 10:49 PM

The 2021 budget will be enough to revive the economy, government officials said on Thursday despite projecting the worst full-year recession since World War 2. Read more »

PH fiscal deficit balloons to P940.6-B from Jan-Oct on weak revenues

ABS-CBN News
Posted at Nov 25 01:43 PM

The national government's budget deficit widened in October from its year-ago figure as revenues shrunk and spending slowed for the month. Read more »

'Bazooka, not a pistol': PH billionaires say more govt stimulus needed to revive economy

Warren de Guzman, ABS-CBN News
Updated as of Nov 23 03:25 PM

Philippine billionaires on Monday said more government stimulus is needed to revive the pandemic-battered economy, which slipped deeper into recession following an 11.5 percent contraction in the third quarter. Read more »

September budget deficit narrows on weak revenues, spending

ABS-CBN News
Posted at Oct 23 12:33 PM

The national government's budget deficit narrowed in September from its year ago figure, as spending dipped together with revenue collections.    Read more »

BOJ's Kuroda says economy to continue recovering from pandemic's pain

Leika Kihara, Reuters
Posted at Oct 08 03:31 PM

The Bank of Japan raised its economic assessment for most of the country's nine regions to say they were starting to pick up, underscoring the central bank's growing conviction the economy is emerging from the worst hit of the coronavirus pandemic. Read more »

Drilon urges DILG to delegate some tasks to local gov't units

Katrina Domingo, ABS-CBN News
Posted at Oct 01 09:31 PM

Senate Minority Leader Franklin Drilon on Thursday said the Department of the Interior and Local Government (DILG) should transfer some of its mandate to local government units as the country is expected to face a "serious fiscal problem" in the coming years. Read more »

PH budget deficit widens in August as pandemic drags revenues

ABS-CBN News
Posted at Sep 23 12:32 PM

The national government's budget deficit widened in August as the Covid-19 pandemic dragged revenue collection, the Bureau of Treasury said in a statement on Wednesday. Read more »

Ombudsman seeks restoration of P1B in 2021 budget

Katrina Domingo, ABS-CBN News
Posted at Sep 14 10:17 PM

The Office of the Ombudsman on Monday sought for the reinstatement for its full 2021 funding after the Department of Budget and Management (DBM) slashed P1 billion from its spending proposal. Read more »

COA told to file case vs Budget dept over withholding P173-M fund

Katrina Domingo, ABS-CBN News
Updated as of Sep 14 05:09 PM

Ombudsman Samuel Martires on Monday urged the Commission on Audit (COA) to file a case against the Department of Budget and Management (DBM) after it withheld the release of the state auditor's P173 million funding for capital outlay. Read more »

PH budget deficit widens in July with higher spending, drop in revenue collection

ABS-CBN News
Posted at Aug 26 11:44 AM

The Bureau of Treasury said Wednesday the national government's budget deficit widened in July due to higher expenditures to fund COVID-19 rehabilitation and recovery efforts. Read more »

Singapore extends lifebuoy amid COVID-19-induced economic crisis

Kyodo News
Posted at Aug 17 07:43 PM

Singapore's government announced Monday that it will extend another S$8 billion (US$5.8 billion) of fiscal support to prop up the economy amid the protracted crisis caused by the COVID-19 global pandemic. Read more »