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Philippines books P1.14-T budget deficit from Jan-Sept

ABS-CBN News
Updated as of Oct 25 02:11 PM

From January to September, the government collected P2.24 trillion in revenues but spent P3.38 trillion. Read more »

AMRO cuts 2021, 2022 PH growth forecast

Warren de Guzman, ABS-CBN News
Updated as of Oct 07 05:37 PM

AMRO said the Philippines would grow just 4.3 percent this year, and 6.7 percent next year. Read more »

Duterte may be misinformed on Bayanihan underspending claims: Lacson

ABS-CBN News
Updated as of Jul 26 01:04 AM

President Rodrigo Duterte might be misinformed about allegations of the Bayanihan fund's underspending, Senator Panfilo Lacson said Sunday after the former accused him of making such claim. Read more »

2022 budget ceiling pegged at over P5 trillion by PH economic managers

ABS-CBN News
Posted at Jul 19 07:45 PM

Philippine economic managers are eyeing a budget of P5.024 trillion next year, higher by 11.5 percent than the budget this year.  Read more »

PH Economic managers sticking to 6 to 7 pct growth target for the year

ABS-CBN News
Posted at Jul 19 06:55 PM

The Development Budget and Coordination Committee (DBCC) on Monday said it “reaffirmed the Gross Domestic Product (GDP) growth target of 6 to 7 percent in 2021." Read more »

Bayanihan 3 won't improve PH credit ratings prospects: BSP chief

ABS-CBN News
Updated as of Jul 18 11:03 PM

Bayanihan 3 will not help the Philippines improve its credit ratings standing, the head of the Bangko Sentral ng Pilipinas said on Sunday.  Read more »

BSP needs to keep rates steady, gov't to boost spending for recovery: think tank

Warren de Guzman, ABS-CBN News
Posted at Jun 29 03:56 PM

AMRO said it doesn’t see any urgency for the BSP to tighten monetary policy, despite elevated inflation in recent months.  Read more »

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 »

Gov't urged to ramp up spending, vaccination program to boost economy

ABS-CBN News
Posted at Mar 09 12:21 PM

The government should ramp up spending, speed up the vaccination rollout, as well further ease restrictions in public transport so that the people can have "more money in their pockets," a lawmaker said.  Read more »

PH GDP seen to grow 3 percent in 2021, 'best case' at 4 percent

ABS-CBN News
Posted at Jan 28 01:17 PM

An economist is forecasting a 3-percent growth in the country's gross domestic product (GDP) this year, and a best-case scenario at 4 percent, which would depend on the pace of COVID-19 vaccine rollout and government spending on infrastructure and agriculture. 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 »

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 »

Duterte wants spending of gov't agencies published in newspapers

Arianne Merez, ABS-CBN News
Posted at Aug 25 11:58 AM

President Rodrigo Duterte said Tuesday he wanted government agencies to publicly disclose their spending including for efforts to respond to the pandemic every 15 days. Read more »

National govt swings back to budget surplus position in June

ABS-CBN News
Updated as of Jul 22 01:33 PM

The national government's fiscal position swings back to surplus in June as it ramped up collection of delayed income taxes and economic activities resume following easing of lockdowns, the Bureau of Treasury said Wednesday.    Read more »

Budget deficit hits P202.1 billion in May as pandemic fuels spending

ABS-CBN News
Posted at Jun 23 04:58 PM

The Philippines posted a budget deficit of P202.1 billion in May as the government spent more while collecting less due to the COVID-19 pandemic, treasury data released Tuesday showed. Read more »

Finance chiefs vie to inoculate world economy against virus

Jitendra Joshi, Agence France-Presse
Posted at Mar 19 10:31 PM

Governments and central banks are injecting eye-popping sums and emergency policy remedies into the global economy as the coronavirus pandemic upends all normal life. Read more »

Huge US spending deal clears Congress, heads to Trump

Agence France-Presse
Posted at Dec 20 07:58 AM

The US Senate on Thursday passed a gigantic $1.4 trillion spending deal that pumps nearly $50 billion in extra funding into federal agencies and prevents a holiday-season government shutdown, if President Donald Trump signs it as expected. Read more »