Economy
Targeted fuel relief prioritized as tax pause yields
The Development Budget Coordination Committee (DBCC) said suspending excise taxes on diesel and gasoline would likely deliver only modest and short-lived relief at the pump, as global oil prices remain driven by external forces, including ongoing tensions in the Middle East.
Balisacan sees growth slowdown, downplays recession risk
Economic Planning Secretary Arsenio Balisacan said the Philippine economy is unlikely to slip into contraction this year despite mounting pressures from a fuel crisis, although growth is expected to fall short of earlier government targets.
Gov’t eyes P42B to widen social protection coverage
The government would need about P42 billion over the next three months to expand social protection coverage for vulnerable households, Planning Secretary Arsenio Balisacan said Monday, as policymakers weigh broader support measures amid ongoing economic pressures.
BIR expands VAT-exempt drug coverage to 2,263 medicines
The Bureau of Internal Revenue (BIR) has released an updated list of value-added tax (VAT)-exempt medicines, expanding coverage to 2,263 drugs under Republic Act No. 10963 or the TRAIN Law and Republic Act No. 11534 or the CREATE Act, in a move aimed at easing healthcare costs for Filipino patients.
DTI sees strong demand for P4-B MSME fund
Trade Secretary Cristina Roque reported strong early demand for the government’s P4-billion financing program for micro, small and medium enterprises (MSMEs), signaling growing business confidence and urgent financing needs.
