ROBUST ENOUGH. Finance Secretary Benjamin Diokno said Thursday (July 14, 2022) the domestic economy is robust enough to absorb the impact of key rate decisions by the Bangko Sentral ng Pilipinas. He said the government would continue to adopt gradual and calibrated fiscal consolidation measures to support the economy's strong growth momentum. (Photo from DOF) MANILA - The continued recovery of the Philippine economy provides it the resiliency to absorb further increases in the Bangko Sentral ng Pilipinas' (BSP) key rates, Finance Secretary Benjamin Diokno said Thursday. Diokno told journalists that the BSP's monetary policy normalization is among the factors in setting the 6.5 percent to 7.5 percent growth target for this year. "The growth outlook is seen to be supported by the maintenance of loosened quarantine restrictions, as well as the positive impact of structural reforms, including CREATE (Corporate Recover and Tax Incentives for Enterprises Law), FIST (Financia
Senator Joel Villanueva today July 4 filed the first 20 of his priority bills for the 19th Congress to continue his advocacy and fulfill his campaign promises of job creation and security. “For our second term, our job in the Senate is still jobs. We are pushing for job opportunities and job securi
THE Philippine Economic Zone Authority (PEZA) said on Monday it supports the veto of House Bill (HB) 7575 creating the Bulacan Airport City Special Economic Zone. “It is a wise decision of President BBM, because while there are two ways of declaring ecozones, first by legislation, the second one by way…
AN economist-lawmaker has called on the Department of Finance (DOF) and the Department of Trade and Industry (DTI) to mount a “concerted effort” to manage business-process outsourcing’s (BPO) shift from the Philippine Economic Zone Authority (PEZA) to the Board of Investments (BOI). Allowing BPOs to implement work-from-home arrangements will help the…
MANILA - The chair of the House Ways and Means Committee on Saturday stressed the need for the country to move towards nuclear energy generation amid "thinning power reserves" as baseload coal power plants continue to experience shutdowns. Albay Rep. Joey Salceda said there is no fuel cleaner than nuclear, which is also a more stable energy source run by a predictable fuel supply. Salceda said President Rodrigo Duterte is on the right path with the issuance of Executive Order 164, which aims to introduce nuclear energy into the country's energy mix, as this will address the high electricity rate and secure energy for the future. "And I can think of the ways we can complement that with good policy," Salceda told reporters in a Viber message, as he proposed the franchise approach to nuclear energy. "I don't want government spending money on it, given our fiscal issues. But we can collate a fiscal incentive package under the CREATE (Corporate Recovery and