government spending news and updates

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Infrastructure continues to boost gov't spending in August 2018

Oct 23, 2018 - 3:15 PM

Bulk of infrastructure and capital outlay disbursement in August goes to public works and military communication equipment

ROAD WORK. Workers install bricks for the sidewalk construction on the diversion road in Barangay Balabag in Boracay Island. Photo from the Department of Environment and Natural Resources

Gov't spending peaks by 34% to P328.1 billion in July 2018

Sep 05, 2018 - 3:23 PM

'We maintain our projection that underspending will be eliminated under our watch,' says Budget Secretary Benjamin Diokno

HIGHER SPENDING. DBM Secretary Benjamin Diokno says government spending peaked in July 2018. Photo by Aika Rey/Rappler

Gov't fiscal deficit narrows to P193 billion mid-2018

Aug 01, 2018 - 5:23 PM

Despite lower fiscal deficit, Budget Secretary Benjamin Diokno says that disbursements for the half of the year surpassed programmed expenditure

ON TRACK. Budget Secretary Benjamin Diokno on August 1, 2018 talks to the media about public sector spending being on track. DBM Photo

Infrastructure push to generate P31 trillion – NEDA

Jun 27, 2018 - 10:20 PM

The National Economic and Development Authority also says over a million jobs will be generated every year because of the government's Build, Build, Build program

DBM: Gov't spending up by 12% to P292 billion in May 2018

Jun 27, 2018 - 1:30 PM

The Department of Budget and Management attributes the increase to completed infrastructure projects and higher government personnel pay

HIGHER SPENDING. Budget Secretary Benjamin Diokno reports higher government spending for May 2018. File photo from the Department of Budget and Management

#ThewRap: Things you need to know, May 24, 2018

May 24, 2018 - 10:05 AM

Hello! Here are the stories you shouldn't miss this Thursday.

WEAVING HOPE. It's in the Sinagtala weaving center where women are able to escape and eventually, heal from the scars of the war. Photo courtesy of Sinagtala

Metro Manila Subway leads expected infra buildup in 2018

Dec 20, 2017 - 5:37 PM

The subway is expected to break ground in Q3 as one of 6 major rollouts next year while government spending is up 10% to P2.241 trillion through January to October of this year

Road repairs lift infrastructure spending in August

Oct 15, 2017 - 11:25 PM

Disbursements for infrastructure and other capital outlays reach P40.1 billion in August, thanks to completed projects of the DPWH and other projects of the DepEd and DOH

ROAD REPAIRS. The Department of Budget and Management says disbursements for the month of September are seen to be substantial, owing to the huge infrastructure spending requirements of the public works and highways department. File photo by Jay Directo/AFP

World Bank cuts Philippine GDP forecast again

Oct 04, 2017 - 9:05 PM

The World Bank's new projections are 6.6% for 2017 and 6.7% for 2018, down from the previous forecasts of 6.8% and 6.9%, respectively

Government infrastructure spending up 25% to P48.4B in July

Sep 11, 2017 - 12:30 AM

July s result means government spending on infrastructure and other capital expenditures stands at P297 5 billion so far this year up 11 1

Gov't spending, agriculture lift Philippine GDP in Q2 2017

Aug 17, 2017 - 8:50 PM

Spending on infrastructure is a bright spot for the economy in the 2nd quarter of 2017 but in a role reversal it s now the private sector and not the government that is lagging

Malacañan Photo

Gov't spending on infrastructure falls by P9B in April

May 28, 2017 - 10:15 PM

The Department of Budget and Management says the drop is mainly due to the absence of big ticket expenditures in the military s modernization program which are set for later in the year

Malacañan Photo

Duterte foreign policy, Anti-Distracted Driving Act, Mike Pence | Evening wRap

May 22, 2017 - 10:53 PM

Watch the evening newscast with Acor Arceo

Gov't infra push fails to spark economy in Q1

May 22, 2017 - 12:30 PM

The Duterte administration s Build Build Build program has yet to break ground and lift the economy leaving the private sector to fill the void

Trump to insist on border wall funds as budget deadline looms

Apr 24, 2017 - 12:55 AM

Will US President Donald Trump veto the spending bill if the Mexico border wall isn t funded?

TRADE CHEATS. US President Donald Trump is set to issue two executive orders aimed at determining the cause of the US' $50-billion trade deficit. Photo by Jim Watson/AFP

Indonesian growth slows in 3rd quarter

Nov 07, 2016 - 3:30 PM

The economy expanded 5 02 year on year from July to September slightly below forecasts and slower than a revised 5 19 in the second quarter according to the statistics agency

Bank of Japan delays inflation goal in blow to 'Abenomics'

Nov 01, 2016 - 8:00 PM

The bank now expects to hit 2 inflation by March 2019 – 4 years later than its original target

Bank of Japan (BOJ) Governor Haruhiko Kuroda answers questions during a news conference at the BOJ headquarters in Tokyo on November 1, 2016.  Tokyo shares closed higher November 1, reversing early losses on relief over a Bank of Japan policy meeting that ended largely as expected and better-than-expected Chinese factory data. / AFP PHOTO / KAZUHIRO NOGI

Japan big manufacturers' confidence at multi-year low

Oct 03, 2016 - 10:40 PM

Sentiment among big manufacturers drops to its lowest levels since Japanese Prime Minister Shinzo Abe kicked off Abenomics in 2013

Bank of Japan Governor Haruhiko Kuroda answers questions during a press conference at the headquarters in Tokyo on September 21, 2016. Japan's central bank on September 21 unveiled a surprise overhaul of monetary policy, promising to redouble attempts to fuel inflation and kickstart the torpid economy. / AFP PHOTO / JIJI PRESS / STR / Japan OUT

Weak Japanese growth puts pressure on Abe

Sep 08, 2016 - 2:50 PM

Economists are increasingly writing off Japanese Prime Minister Shinzo Abe s more than 3 year attempt to cement a lasting recovery

Japanese Prime Minister Shinzo Abe gestures to the media upon arrival at a meeting session at the Association of Southeast Asian Nations (ASEAN) Summit in Vientiane on September 7, 2016. The gathering will see the 10 ASEAN members meet by themselves, then with leaders from the US, Japan, South Korea and China. / AFP PHOTO / ROSLAN RAHMAN

Economists upbeat on PH prospects for 2nd half of 2016

Aug 21, 2016 - 8:50 PM

The Philippine economy is firing on all cylinders but economists say boosting spending is as critical as ever

Japan approves huge stimulus for sluggish economy

Aug 02, 2016 - 9:45 PM

The 273 billion package which includes tens of billions of dollars for infrastructure spending is expected to be approved by parliament in September

Japanese Prime Minister Shinzo Abe (C) sits with Finance Minister Taro Aso (R) and Economic Revitalisation Minister Nobuteru Ishihara (L) as they pose for photographers prior to a cabinet meeting at Abe's official residence in Tokyo on August 2, 2016. The Japanese government on August 2 approved a massive stimulus to boost growth in a economy under threat from a soaring yen, with funds earmarked to counter the impact of Brexit and a deadly earthquake disaster. / AFP PHOTO / JIJI PRESS / JIJI PRESS / Japan OUT

Japan PM unveils $266B stimulus plan to boost economy

Jul 27, 2016 - 8:15 PM

Prime Minister Shinzo Abe gives few details about the plan except to say about half would be fiscal measures

Japanese Prime Minister Shinzo Abe delivers a speech in Fukuoka on July 27, 2016. Japan's prime minister on July 27 announced a whopping stimulus package worth more than 28 trillion yen (266 billion USD) aimed squarely at boosting the wobbly economy, with the central bank widely expected to unveil its own measur. / AFP PHOTO / JIJI PRESS / STR / Japan OUT

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

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

IMF says not recanting on neoliberalism, austerity

Jun 03, 2016 - 2:30 PM

Maurice Obstfeld the International Monetary Fund s top economist says an article by 3 other IMF economists was widely misinterpreted

Spend for growth, OECD urges governments

Jun 02, 2016 - 12:45 AM

The Organization for Economic Cooperation and Development says there is an urgent need for governments to ramp up spending

epa05340323 OECD Secretary-General Jose Angel Gurria (C-L) with other Ministers and delegations during the meeting of the OECD (Organisation for Economic Co-operation and Development) Council at ministerial level at the organization headquarter in Paris, France, 01 June 2016. OECD Week places a central emphasis on the need for policies that strengthen productivity, and promote inclusive and sustainable growth. EPA/ETIENNE LAURENT

IMF economists question faith in neoliberal doctrine

Jun 01, 2016 - 11:05 AM

Instead of delivering growth some neoliberal policies have increased inequality says 3 economists from the International Monetary Fund

epa04824587 (FILE) A file photo dated 18 May 2011 showing the logo of the International Monetary Fund (IMF) at the entrance of the Headquarters of the IMF, also known as building HQ2, in Washington, DC, USA. Greece will not make the 1.6-billion-euro (1.8-billion-dollar) repayment due 30 June 2015 to the International Monetary Fund unless it strikes a deal in the coming hours with its creditors, Prime Minister Alexis Tsipras said in Athens as the deadline loomed. He implied that his left-wing government would resign if Greeks vote 'yes' in a planned 05 July referendum on a renegotiated bailout. The Greek vote is widely seen as deciding whether the near-bankrupt country stays in the eurozone. No country has left the currency bloc since its founding in 1999. EPA/JIM LO SCALZO

G7 warns over global economy as currency row flares

May 22, 2016 - 7:00 AM

G7 finance ministers also oppose Britain s possible exit from the European Union as well as vow to clamp down on terrorist financing

epa05318873 Japanese Finance Minister Taro Aso (C) chairs the session one meeting of the G7 Finance Ministers and Central Bank Governors meeting at Akiu in Sendai, Miyai Prefecture, northern Japan, 20 May 2016. The G7 meeting is held 20 and 21 May 2016. EPA/KIMIMASA MAYAMA / POOL

'Brexit' in spotlight at G7 meeting in Japan

May 21, 2016 - 11:45 AM

The G7 – which also includes the US Japan Germany France Italy and Canada – backs Britain remaining in the EU

BREXIT? Finance ministers, central bank governors and representatives of world economic organizations start the session one meeting of the G7 Finance Ministers and Central Bank Governors meeting at Akiu in Sendai, Miyai Prefecture, northern Japan,  May 20, 2016. Photo by Kimimasa Mayama/EPA

Currency wars, fiscal stimulus rift in focus at G7 meeting

May 18, 2016 - 1:45 PM

Japan believes large scale stimulus spending is the way to spur global growth but Germany and Britain are not keen on the idea

epa04391995 A Tokyo money dealer is waiting for sell calls during trade in Tokyo, Japan, 09 September 2014, as the US dollar rises to the 106 yen low range, more than one yen from the previous day. Japanese finance minister Taro Aso showed on 09 September his concern about recent sharp currency moves of the US dollar, which is hitting the highest level in six years against the Japanese yen. EPA/KIMIMASA MAYAMA

PH imports up 1.2% in February

Apr 26, 2016 - 4:27 PM

This growth indicates that amid a global economic slowdown domestic demand especially investments remains strong says Socioeconomic Planning Secretary Emmanuel Esguerra

IMF ups call for action against global economic slide

Mar 09, 2016 - 6:00 PM

The International Monetary Fund urges leaders to expand fiscal stimulus and structural reforms

epa05197283 A photo made available 06 March 2016 shows workers working on top of a building under construction in Beirut, Lebanon, 05 March 2016. The Lebanese real estate sector has been affected negatively by the lingering political and security situation in Lebanon, the ongoing war in Syria, as well as the decreasing number of foreigners who invest in Lebanon which resulted in the solidification of property sales transactions in about 14.5 percent. EPA/WAEL HAMZEH

Improving efficiency in infra key to PH growth – economist

Mar 02, 2016 - 4:38 PM

An IMF economist says the Philippines could see significant growth if it ensures better public investment efficiency

Moody's: PH growth in 2016 likely better than peers

Feb 01, 2016 - 7:18 PM

The Philippines has shown strong growth compared to export oriented Asian economies says Moody s

Foreign direct investments seen to hit $6.3B in 2016

Dec 22, 2015 - 4:24 PM

BSP also sees FDI inflows rising to 6B this year on the back of the country s sustained economic growth

BULLISH. The bullish business confidence is expected to support the continued entry of foreign direct investments, despite the fact that the global financial environment is expected to remain volatile. File photo

ING Bank forecasts 6% PH GDP growth in Q3

Oct 05, 2015 - 8:45 PM

The Manila office of the Dutch financial institution says the growth accelerates on the back of increased government spending for the first 8 months of 2015

GROWTH. The Manila office of the Dutch financial institution says the third quarter growth accelerates on the back of increased government spending for the first 8 months of 2015. Image from ING Bank Flicker account

World Bank again cuts PH growth forecast for 2015

Oct 05, 2015 - 3:22 PM

The latest projection of 5 8 this year takes into account risks from the slow global economic recovery rising interest rates China’s slowdown and El Niño

UPDATING. World Bank representatives explain its latest Philippine growth projections in the wider context of the region at the launch of its latest report entitled: East Asia Pacific Economic Update, October 2015: Staying the Course. Photo By Chris Schnabel / Rappler

Credit Suisse trims PH growth forecast

Sep 28, 2015 - 11:31 AM

The bank revises the country’s gross domestic product growth forecast to 6 1 instead of 6 4 this year but maintains 2016’s projection at 6 4

PH economy still a bright spot in Asia - ADB

Sep 23, 2015 - 7:50 AM

Asian Development Bank’s latest report shows that the country’s growth prospects are the opposite of the rest of Asia which faces its slowest growth since the turn of the millennium

Catch-up measures rev up infra spending in July

Sep 14, 2015 - 3:53 PM

The infrastructure spending and capital outlay for July alone surge to 92 9

UPSURGE. The upsurge in infrastructure and capital outlay disbursements was due mostly to the ongoing implementation of road work projects under the Department of Public Works and Highways (DPWH). In photo are President Benigno S. Aquino III, accompanied by Public Works and Highways (DPWH) Secretary Rogelio Singson during the photo exhibit on DPWH infrastructure projects after gracing the 117th anniversary of DPWH in June 2015. Photo by Lauro Montellano, Jr. / Malacañang Photo Bureau

Why can't government spend more?

Jul 22, 2015 - 11:45 AM

The solution to the problem of corruption carried the seed of the next problem: the zeal for good governance complicated the work of government unnecessarily

ADB maintains growth forecast for PH

Jul 16, 2015 - 6:07 PM

The Asian Development Bank retains its growth assumptions for the country at 6 4 in 2015 and 6 3 in 2016

Business leaders bare suggestions to build on PH gains

Jun 04, 2015 - 5:05 PM

Leaders from the power finance and real estate industries chart their growth and suggest further reforms in 2016 and beyond

What happened to the Philippine economy in 2014?

Jan 07, 2015 - 10:00 AM

There is reason to expect sustained growth in 2015 with election spending starting even in 2015 as 2016 involves the presidency

DTI: Public spending to put PH back on ‘high growth path’

Dec 01, 2014 - 9:05 PM

Economists however do not share Trade Secretary Gregory Domingo’s optimism of over 7 growth for 2015 as they lower expectations for the country’s growth

Economists lower expectations for 2014 Philippine economic growth

Nov 28, 2014 - 3:34 PM

With only a 3rd quarter economic growth of 5 3 experts say that ‘normalized’ government spending private consumption and investments will help the country stay on its growth track

Philippine economy slows down to 5.3% in Q3

Nov 27, 2014 - 11:03 AM

UPDATED Agriculture sector growth contracts to 2 7 in the third quarter the lowest in 5 years Government underspending also stunts the economy s growth

Gov't to tag climate change expenditures in the PH budget

Oct 25, 2014 - 2:41 PM

National government agencies tag climate change expenditures in the proposed 2015 projects in order to promote transparency and accountability

In this file photo dated October 16, 2011, Filipino members of the Church of God plant trees in the mountains of Tanay, Rizal province, Philippines in an effort to help the country's rapidly dwindling forest resources due to illegal logging. Photo by Francis R. Malasig/EPA

The wheat from the chaff

Jul 25, 2014 - 9:00 AM

The only thing of any value is the truth The rest is trivia

Jinggoy to Aquino: Respect SC, as I respect Ombudsman

Jul 15, 2014 - 2:05 PM

It s detained Senator Jinggoy Estrada s turn to tell President Aquino to respect the rule of law

'BE ACCOUNTABLE.' Senator Jinggoy Estrada says budget officials must be held accountable for the SC ruling partially striking down DAP. File photo by Sandiganbayan pool