‘Sizeable’ supplementary budget needed

April 06, 2020
“We believe an extended lockdown would not only require an improvement of the distribution of relief measures but also more funding. We therefore continue to believe that, similar to what other countries have already done in the region, a sizeable supplementary budget (apart from reallocations of the existing budget) will have to be passed that is designed to provide more aide to the poor as well as measures to support the broader economy,” it said.

PH GDP growth to slide this year -- ADB

April 06, 2020
The Philippines’ economic growth is bound to slow significantly this year before a strong rebound in 2021, with expansionary fiscal and monetary policies partly offsetting slower domestic demand and disruptions in tourism, trade, and manufacturing, according to a new Asian Development Bank report.

JAO preventing looming port congestion rushed

April 05, 2020
The Department of Trade and Industry, in coordination with the Philippine Ports Authority, the Bureau of Customs, the Department of Finance, and the Department of Agriculture, among others, have agreed to create a policy that would decongest the ports of Manila and help bring food, medicine, and personal protective equipment  into the country during the enhanced community quarantine due to coronavirus disease 2019  threat.

Peso to stay strong – Fitch Solutions

April 05, 2020
Fitch Solutions forecasts the peso to remain resilient this year despite the weaker global economy due to the global pandemic, while it forecasts a wider current account deficit due to weaker external demand.

IATF allows 12-hr store operations

April 04, 2020
Trade and Industry Sec. Ramon Lopez said the Inter-Agency Task Force for the Management of Emerging Infectious Diseases is allowing stores to operate for 12 hours during the enhanced community quarantine period.

P100-B social amelioration fund ready

April 04, 2020
Half of the P200 billion to be distributed to people whose livelihoods were affected by the enhanced community quarantines  put in place to address the rise of coronavirus disease 2019 ) is now available.

Half of all shipping ops affected by quarantine

April 04, 2020
A little more than half of all shipping operations in the country were either canceled, delayed, or not completed during the second half of March due to travel constraints and other restrictions in the country brought by the coronavirus disease 2019 pandemic.

Focus probe vs. profiteers, hoarders

April 03, 2020
“We are calling for the National Bureau of Investigation to concentrate its efforts in apprehending those who are guilty of profiteering from the Covid-19 Pandemic... The NBI and the Police should also arrest those who have violated and are violating the price control currently being imposed by the government,” Garbin said.

Clarify PH stand on HTPs/ENDS in global meet

April 03, 2020
It has asked Finance Sec.  Carlos Dominguez III to clarify the position of the government on smoke-free nicotine products such as electronic cigarettes, heat-not-burn tobacco products, and snus ahead of a global meeting in November.

Village execs, workers as Covid subsidy beneficiaries

April 02, 2020
House Ways and Means chairman Joey Sarte Salceda (Albay, 2nd district) has asked President Duterte and the Inter-Agency Task Force on Emerging Infectious Diseases to broaden the coverage of the government’s Covid-19 emergency subsidy program and give barangay officials, including secretaries, treasurers, and tanods, a “frontline status” so they may also be eligible for benefits.

KYC rules eased to widen access to financial services

April 02, 2020
To facilitate the delivery of welfare funds to identified beneficiaries who have no available valid IDs or transactional account with any financial institution, the Monetary Board eased the requirement for the presentation of a valid identification document for customer onboarding and transactions during the period of enhanced community quarantine and until  June 30, 2020.