Tag: Economic Policy
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Senatorial Hopeful Abalos Demands Overhaul of Outdated Local Government Code and Tax Relief
In a bold move to modernize governance, former Interior Secretary and current senatorial candidate Benjamin Abalos Jr. has called for significant amendments to the Local Government Code, which he deems outdated after 31 years. Speaking at a press conference in Dumaguete City, Abalos highlighted the necessity to align the law with today’s realities, pointing out…
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Philippine Treasury Fully Allocates T-bill Auction Amid Rising Yields
In Manila, the Bureau of the Treasury (BTr) successfully met all bids for Treasury bills (T-bills) in Monday’s auction. The auction saw 91-day, 182-day, and 364-day T-bills being sold at average rates of 5.329 percent, 5.672 percent, and 5.754 percent, respectively. These rates show a slight increase from the previous week’s averages of 5.318 percent,…
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Malacañang Dismisses Duterte’s Allegations of Gold Reserve Sales as Baseless Intrigues
In a decisive response to former president Rodrigo Duterte’s recent allegations, Malacañang Palace has firmly dismissed claims that President Ferdinand R. Marcos Jr. is involved in selling the country’s gold reserves. The accusations were labeled as ‘baseless’ and mere ‘intrigues’ by Presidential Communications Office Undersecretary and Palace Press Officer, lawyer Claire Castro, during a press…
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Philippine Treasury Successfully Allocates Reissued 10-Year Bond
The Philippine Bureau of the Treasury (BTr) announced the complete allocation of the reissued 10-year Treasury bond on Tuesday. The bond, which now has a remaining term of eight years and eleven months, was sold at an average yield of 6.118 percent. This rate marks a decrease from the 6.251 percent yield recorded during its…
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Philippine Government Agencies Finalize CREATE MORE Act Regulations to Boost Investment
In a significant move to enhance the country’s investment climate, key government officials, including Finance Secretary Ralph Recto and Trade Secretary Ma. Cristina Roque, have signed the implementing rules and regulations (IRR) for the CREATE MORE Act. The signing took place on February 17, 2025, and was attended by notable figures such as Senator Sherwin…
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Philippine Agriculture Department Slashes Rice Price Cap to Ease Market Costs
In a move to curb rising retail prices, the Philippine Department of Agriculture (DA) has announced a reduction in the maximum suggested retail price (MSRP) for 5 percent broken rice in Metro Manila, dropping it to PHP52 per kilogram from PHP55. This adjustment, effective from February 15 as per Administrative Circular No. 3, reflects a…
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Philippine Treasury Fully Allocates T-Bill Auction Amid Rising Yields
In Manila, the Bureau of the Treasury successfully met its full allocation target for Treasury bills during Monday’s auction. The auction saw the 91-day, 182-day, and 364-day T-bills being sold at average rates of 5.128 percent, 5.562 percent, and 5.726 percent, respectively. Michael Ricafort, chief economist at Rizal Commercial Banking Corporation, noted that the average…
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Philippine Inflation Holds Steady at 2.9% in January Amid Rice Price Drop
In January, the Philippines experienced a consistent inflation rate of 2.9%, mirroring the figure from December 2024. This stability comes as rice prices fell, counteracting rises in other food categories. The Philippine Statistics Authority reported a significant deflation in rice prices at -2.3%, the lowest since June 2020, which contributed to maintaining the overall inflation…
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Philippine Auto Parts Industry Advocates for 30% Local Sourcing Requirement
MANILA – The Philippine Parts Makers Association (PPMA) is pushing for a new regulation that would require vehicle manufacturers in the Philippines to source at least 30% of their parts locally. PPMA president Ferdi Raquelsantos emphasized that such a policy could be supported by tax incentives for vehicle assemblers who meet the local sourcing threshold,…
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Global Price Drop May Lead to Lower Imported Rice MSRP
The Department of Agriculture (DA) announced on Monday that the maximum suggested retail price (MSRP) for imported rice could decrease due to falling global market prices. Previously set at PHP58 per kilogram for 5 percent broken imported rice, this price cap was established to curb profiteering and stabilize retail prices in Metro Manila starting January…
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