👥 CREATE to generate up to 2.3 million jobs—DOLE

DOF welcomes DOLE-commissioned study showing CREATE bill will generate jobs, lower poverty incidence The proposed reduction in the corporate income tax (CIT) rate and modernization of the tax incentives system for companies will propel economic growth, create more jobs, and lower poverty incidence, according to a study commissioned by the Department of Labor and Employment (DOLE). The study, supported by the Asian Development Bank (ADB) Continue Reading...

🖥️ Use internet, digital tools to ensure corruption-free distribution of subsidy programs, Dominguez says

PHOTO CREDIT: GERIC CRUZ/BLOOMBERG

Dominguez proposes digital tools, full automation for fast, graft-free distribution of government subsidies

Finance Secretary Carlos Dominguez III recommended the adoption of digital technologies and fully automated systems to ensure the efficient and corruption-free distribution of emergency subsidies among beneficiaries. Read more..

PHL has enough resources for “drawn-out struggle” vs COVID-19

Finance Secretary Carlos Dominguez III said the government has necessary resources to endure the challenge of COVID-19 and its adverse economic impact. He added that, despite the 9-percent contraction in the first semester, the Philippine economy is expected to improve in the second half of 2020 if all sectors work together to shore up consumer confidence and the public cooperates in curbing the spread of Continue Reading...

🇵🇭 Invest in the Philippines’ COVID-19 response with your smartphone

Dominguez leads launch of first mobile app for PHL Treasury bonds for small investors Finance Secretary Carlos Dominguez III led the launching last week of the Philippines’ first mobile application that will enable small investors to conveniently purchase retail treasury bonds (RTBs) and redeem these investments through electronic payment channels using their smartphones and other similar devices. These RTBs, called the PROGRESO Bonds, are now Continue Reading...

Dominguez: ‘Reasonable balance’ between health and economy needed for recovery

Dominguez: ‘Reasonable balance’ between health and economy needed for recovery Finance Secretary Carlos Dominguez III underscored the need to strike a “reasonable balance between safeguarding public health and restarting the economy” during the pre-State of the Nation Address (SONA) forum of the Cabinet’s Economic Development and Infrastructure Clusters (EDC-IC) held on Wednesday, July 8. Dominguez’s statement comes as the country continues to grapple with the Continue Reading...

URGENT NOTICE: SBWS beneficiaries have until June 28 to claim wage subsidies from remittance outlets

SBWS beneficiaries have until June 28 to claim wage subsidies from remittance outlets Employees who were notified to claim their cash grants under the Small Business Wage Subsidy (SBWS) Program through the MLhuillier Kwarta Padala money remittance outlets only have until this weekend to pick up their subsidies. Finance Assistant Secretary Antonio Lambino II said the deadline for claiming the SBWS payouts from MLhuillier branches Continue Reading...

🏠 Major prizes of 1M pesos, house and lot awarded during first Premyo Bond raffle draw

During Premyo Bond raffle draw, Dominguez urges public to invest in gov’t bonds, help in economic recovery Finance Secretary Carlos Dominguez III is urging Filipinos to support the government’s domestic bond offerings as secure investments that will help the Duterte administration raise funds to bridge the higher budget deficit brought about by the coronavirus emergency. These investments will also help prepare the economy for a quick Continue Reading...

Japan debt watcher upgrades Philippines’ credit rating to ‘A-,’ cites country’s resilience amid pandemic

Japan Credit Rating Agency (JCR) upgraded the Philippines’ credit rating from ‘BBB+’ to ‘A-’, with a ‘stable’ outlook, citing the country’s resilience amid a pandemic that has slowed down growth, impaired fiscal positions, and hurt credit ratings of economies across the globe. The assigned “stable” outlook on the new rating indicates that the “A-” will be maintained over the near term. In a report released Continue Reading...

⏰ Former gov’t execs, leading economists: ‘CREATE critics should stop rehashing old arguments and delaying what we know is necessary’

Former gov’t execs, leading economists push Congress OK of CREATE bill Former Secretaries of finance and socioeconomic planning Secretaries along with state bankers, eminent economists, and industrialists have sought the immediate congressional passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act as they chided critics for “rehashing old arguments and delaying what we know to be a necessary boost” for an early Continue Reading...

PH economic team proposes to Congress one of the largest stimulus measures for businesses in country’s history

Dominguez urges Senate to include stimulus measures in calibrated corporate tax reform bill Finance Secretary Carlos Dominguez III introduced to Senators last week “one of the largest economic stimulus measures in the country’s history.” Through the urgent passage of the recalibrated Corporate Income Tax and Incentives Reform Act (CITIRA), now known as the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) bill, Dominguez said the Continue Reading...