Govt raises only ₧3.65B in 1st auction of debt papers
THE national government’s domestic borrowing program started the New Year with a partial awarding by the Bureau of the Treasury (BTr) of Treasury bills (T-bills) amounting to P13.65 billion.
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THE national government’s domestic borrowing program started the New Year with a partial awarding by the Bureau of the Treasury (BTr) of Treasury bills (T-bills) amounting to P13.65 billion.
THE proposed moratorium on the increase in premium contributions of Philippine Health Insurance Corp. (PhilHealth) members will be tackled by the state-owned insurer’s board on Wednesday.
THE Marcos Jr. administration seeks to eliminate severe food insecurity in the Philippines starting next year through various mechanisms that include lowering of tariffs on key commodities in the short-term period.
The country’s corn imports in market year 2022-2023 could reach 1 million metric tons (MMT) on the back of the extension of lower tariffs on the commodity and anticipated easing of global prices.
THE country’s imports of non-alcoholic beverages (NABs) in 2022, which includes sodas, milk teas and juices, could have expanded by a fourth to $120 million with the reopening of the economy.
The Philippine Center for Postharvest Development and Mechanization said it will focus on providing rice millers and other postharvest facilities to farmer-beneficiaries during the remaining years of the rice competitiveness enhancement fund (RCEF).
The Department of Agriculture (DA) is still contemplating the most efficient way of bringing in the additional sugar imports that will help temper local retail prices.
THE value of the country’s distilled spirits imports this year will expand by a fifth on an annual basis to a four-year high of $143 million on the back of higher cost per liter of booze.
Manila is negotiating a deal with Beijing for the construction of solar-powered irrigation systems (SPIS) to boost the Philippines’s farm productivity.
THE national government’s budget deficit through November declined by 7.2 percent on an annual basis to P1.236 trillion as government revenues continue to rise by double-digit growth rates.
THE Marcos Jr. administration will not amend the country’s current rice trade regime, which was liberalized in 2019, according to the Philippines’s official communication to the World Trade Organization (WTO).
THE enactment of a law declaring the smuggling of cigarettes and other tobacco-related products as economic sabotage would allow the government to regain lost revenues of at least P25 billion annually, an industry group said.
President Marcos Jr. has ordered the Department of Agriculture (DA) to fast-track the importation of 64,050 metric tons (MT) of refined sugar through the minimum access volume (MAV) mechanism to further “stabilize” sugar prices that have remained elevated.
MANILA is eyeing to seal a government-to-government (G2G) fertilizer deal next month and take advantage of the falling prices of the commodity to supply local farmers with cheaper planting inputs.
THE leadership of the House of Representatives on Tuesday vowed to pass next year the 12 remaining bills endorsed by the Legislative-Executive Development Advisory Council, particularly those that ensure job creation, improve the health system and sustain economic growth.
THE Philippines’s rice imports have breached 3.6 million metric tons (MMT), posting a new record volume for the world’s second largest buyer of the grain.
Leyte Rep. Richard Gomez on Tuesday reminded the Department of the Interior and Local Government (DILG) that it is not the role of the local government units (LGUs) to ensure that Filipinos would abide by the mandated SIM card registration.
The Land Bank of the Philippines (LandBank) will partially finance a P2.6-billion 15-megawatt hydropower plant in Bukidnon that seeks to contribute to the country’s climate change mitigation efforts.
THE Department of Agriculture (DA) backed the extension of lower tariff duties on certain imported commodities to ensure steady food supply and ease inflation, but acknowledged—as pointed out by a lawmaker and farm groups—that the lower tariffs thus far have worked only marginally in bringing down local prices. The DA also sees the need for a periodic review of the tariff order in order to strike the right balance between helping consumers and protecting local producers.
THE Philippines will continue its practice of “managing” the entry of rice imports by slowing down the issuance of pertinent import documents during harvest seasons as authorities “balance” local production and foreign supplies.
The Department of Agriculture (DA) is hopeful that the country’s farm production this year would expand by an annualized rate of 1.2 percent driven by recovery of the livestock sector and higher crop yield.
Any plans to import onion any time soon to boost domestic supply and arrest rising prices of the commodity is off the table since local farmers are already harvesting, Senior Agriculture Undersecretary Domingo F. Panganiban said.
The public will be able to access and secure documents of the proposed Maharlika Investment Fund (MIF) and Maharlika Investment Corp. (MIC), including investment plans and audit documents, based on the current version of the legislative measure.
A lawmaker is urging the Insurance Commission (IC) to suspend its recent disaster premium hike policy, claiming that it would exacerbate the increase in food prices as insured Filipinos would have to shell out more money for their policies.
The Philippine Chamber of Agriculture and Food Inc. (PCAFI) is urging lawmakers to invest a portion of the Maharlika Investment Fund (MIF) in projects that would improve agricultural productivity, such as the construction of postharvest facilities and warehouses.
AT the behest of Finance Secretary Benjamin E. Diokno, President Ferdinand R. Marcos Jr. has certified as urgent a bill creating the country’s Maharlika Investment Fund (MIF).
CASH remittances sent by Filipinos abroad through October rose by an annualized rate of 3.1 percent to $26.74 billion, latest Bangko Sentral ng Pilipinas (BSP) data showed.
THE Fisheries and Aquaculture Board of the Philippines (FAB) bucked the government’s new rules on frozen fish imports, warning that the tighter regulations would drive food prices to accelerate faster due to possible supply disruptions.
President Ferdinand Marcos Jr. is expected to sign the P5.268-trillion 2023 national budget on Friday, the budget chief said Wednesday.
The Department of Budget and Management (DBM) on Wednesday said it has laid out plans to fully digitalize the release of various documents, including allotment releases, by the next quarter, allowing the government to save at least P33 million from printing costs.
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