Development Budget Coordination Committee - updates

Rappler's latest stories on Development Budget Coordination Committee


PH economy to contract by up to 3.4%, higher debt seen in 2020

May 13, 2020 - 11:55 AM

Weak growth and higher spending due to the coronavirus crisis are expected to bloat the Philippines' budget deficit for 2020

Duterte's economic team proposes P4.64-trillion budget for 2021

Dec 11, 2019 - 7:00 PM

Universal health care, anti-poverty measures, climate change, and the peace process are among the government's priorities for 2021

Global slowdown spoils Duterte's 8% GDP growth dream

Dec 11, 2019 - 6:05 PM

President Rodrigo Duterte's economic team lowers the Philippines' growth target to the 6.5% to 7.5% range for 2020 to 2022

Duterte's economic team sees stable inflation until his term ends

Jul 18, 2019 - 7:15 PM

Economic managers project inflation to settle between 2.7% and 3.5% in 2019, far from the rates experienced last year

Inflation up, GDP down: Economic managers revise PH outlook

Oct 16, 2018 - 3:30 PM

Finance Secretary Carlos Dominguez III says they revised the economic outlook to reflect the 'very different world' we are living in now

Gov't now expects 2018 inflation to reach as high as 4.5%

Jul 02, 2018 - 5:55 PM

The government previously pegged inflation at just within 2% to 4%, but prices keep rising. Meanwhile, the deficit forecast is also raised to 'sustain the momentum of the Build, Build, Build program.'

Philippines to borrow more from foreign lenders

Apr 25, 2018 - 8:15 AM

Budget Secretary Benjamin Diokno says the government decided to hike the share of foreign borrowings to 25% of the total financing program for the next 5 years, from the initial 20%

Duterte vetoes parts of tax reform law

Dec 22, 2017 - 7:12 PM

The vetoes will help the first package of tax reforms expected to reach the target P90 billion in revenue in 2018, according to the Department of Finance

President Rodrigo Roa Duterte shares a light moment with Finance Secretary Carlos Dominguez III during the cabinet cluster meeting in Malacañan Palace on November 6, 2017. ACE MORANDANTE/PRESIDENTIAL PHOTO

Credit Suisse upgrades Philippine GDP 2017 outlook on Q2 results

Aug 21, 2017 - 6:10 PM

The global financial services giant now expects the Philippines gross domestic product to grow faster at 6 1 instead of 6 this year

STRONGER. The upgrade is a result of a better-than-expected 2nd quarter 2017 results. Rappler file photo

Extrajudicial killings, tax reform, Prince | 12PM wRap

Aug 23, 2016 - 12:39 PM

Watch the 12PM wRap with Paterno Esmaquel

Pay hike for cops, soldiers included in 2017 proposed nat'l budget

Aug 22, 2016 - 8:56 PM

This is in relation to President Rodrigo Duterte s campaign promise to double the salaries of soldiers and policemen in 3 years

PARTIAL FULFILLMENT. The wage hike proposal is in partial fulfillment of his campaign promise to double the salaries of policemen and soldiers in 3 years. Photo by Pia Ranada/Rappler

Gov't tax reform to cost P173.8B in lost revenue

Aug 22, 2016 - 8:49 PM

To offset the loss the government is planning a series of measures such as eliminating some VAT exemptions and fiscal incentives

SPENDING BREAKDOWN. (from left) Socioeconomic Planning Secretary Ernesto Pernia, Budget secretary Benjamin Diokno and Finance Secretary Carlos Dominguez III detail the particulars of the 2017 budget to members of congress at the House of Representatives on August 22. Photo by Chrisee dela Paz/Rappler

Balanced budget 'impractical' for the PH until 2022 – Diokno

Aug 22, 2016 - 7:10 PM

Philippine economic managers flesh out the proposed P3 3 trillion national budget for 2017 – an amount seen to help free the country from high socioeconomic inequality

NOT FOR NOW. One thing is certain for the Philippine economy in the coming years: deficits are not going away, the economic team of President Rodrigo Duterte tells the House committee. Photos by Chrisee Dela Paz/Rappler

DPWH starts 24/7 construction for key infra projects

Aug 11, 2016 - 6:35 PM

This move is seen to help address the horrendous metro traffic that has dragged down productivity

DAY AND NIGHT. Department of Public Works and Highways (DPWH) inspecting the 24/7 construction of an infrastructure project along Quezon Avenue. Photo from DPWH

Gov’t deficit rises to P120.3B in H1 2016

Jul 27, 2016 - 6:57 PM

For the first 6 months of the year government spending totaled P1 22 trillion 14 higher than last year s P1 07 trillion

PH cuts GDP growth target for 2016, 2017

Jul 05, 2016 - 3:05 PM

3rd UPDATE The country s GDP growth target for 2016 has been reduced to 6 7 and for 2017 to 6 5 7 5

TRIMMED TARGETS. The Philippines expects lower economic growth this year and in 2017. In the photo are (L-R) NEDA's Pernia, DBM's Diokno, DOF's Dominguez, and BSP's Guinigundo, forming President Rodrigo Duterte's economic team. Photo by Chrisee Dela Paz/Rappler

Dominguez: Ceiling on spending could be raised this year

Jul 04, 2016 - 8:25 PM

The Duterte administration s economic managers also plan to fast track infrastructure projects

PH 2015 inflation settles at 1.4%

Jan 05, 2016 - 4:06 PM

While expected it is still below the government s 2015 target of 2 4 but upward price movements push December inflation to 1 5

EXPECTED. Favorable supply-side factors such as relatively lower domestic retail prices of corn, oil, and rice, lower international oil prices, and the contraction in the prices of housing and other utilities contribute to full-year 2015 inflation of 1.4%.

PH economic growth picking up despite slip in exports – Moody's

Aug 22, 2015 - 10:18 AM

Merchandise exports – which contribute 30 40 to GDP – however decline by 4 7 in the first semester the Philippine Statistics Authority says

PICKING UP STEAM. Moody’s says stronger government spending allowed the Philippine economy to recover from its dismal performance in the first quarter

Lower food prices pull down March inflation

Apr 07, 2015 - 2:02 PM

UPDATED Cheaper prices of food staples resulted in 2 4 headline inflation in March well within the government’s target

Customs losses to reach P40B due to cheaper oil – Sevilla

Jan 25, 2015 - 5:53 PM

Yet based on Rappler s computations the BOC s losses in 2014 are already at P44 12 billion even without the December 2014 figures

A customer fills his tank at a gasoline station in London, United Kingdom, February 24, 2011. Andy Rain/EPA

Inflation lowest at 3.7% in November

Dec 05, 2014 - 3:02 PM

UPDATED The advent of the Christmas season plus the damage anticipated from RubyPH however could raise food prices

‘PH growth to slow down after Aquino’s term’

Aug 25, 2014 - 6:28 PM

Growth is expected at 7 8 in 2017 according to DBCC projections

'No more cash' left of Malampaya fund

Oct 22, 2013 - 12:57 AM

UPDATED But National Treasurer Rosalia de Leon gives assurances that the P137B – or the amount supposed to be remaining – is still available for appropriation

Image courtesy of Sembcorp Marine

PH keeps 2013, 2014 growth targets

Jul 04, 2013 - 9:14 AM

One of the world s fastest growing economies is keeping its growth targets at 6 to 7 this 2013 and 6 5 to 7 5 in 2014 opting to be more conservative as global uncertainties linger

Despite rising food prices, inflation target remains

Feb 24, 2012 - 7:15 PM

Despite rising food prices the inflation target for 2012 to 2014 will stay at 3 to 5