Govt. spending up by 43% in April



By Rose de la Cruz


Government disbursements in April 2018 reached P261.2 billion, growing by 43%, fueled by strong Infrastructure and Other Capital Outlays.


Infrastructure spending almost doubled from P33.5 billion in April 2017 to P65.6 billion in April 2018. The robust performance of disbursements in April puts total government spending at P1.03 trillion for the first four months of the year, or a 29% year-on-year increase.


“We are keeping our foot on the gas pedal with regards to government spending,” said Budget and Management Secretary Benjamin E. Diokno adding that…

Read more: Govt. spending up by 43% in April

Most LGUs don’t have online processing portals of business forms



By Rose de la Cruz


Now that the Ease of Doing Business has become a law, the next step is for government to ensure that all local government units are adept and capable of processing the downloadable forms for business—online.


This was the advice of Rep. Henry Ong, one of the principal authors of the law and vice chair of the committee on banks and financial intermediaries of the House, as he stressed that the law was meant to generate new and continuing direct investments in the Philippines economy to the level of provinces, cities, towns…

Read more: Most LGUs don’t have online processing portals of business forms


By Rose de la Cruz


The Monetary Board—policy-making arm of the Bangko Sentral ng Pilipinas—has approved the conduct of the Banking Sector Outlook Survey (BSOS) to be used in gathering the sentiments of presidents and chief executive officers of the country’s banking sector on their growth outlook, risk assessments, business performance strategies and insights on regulation and supervision.


The survey is part of the surveillance toolkit of the BSP to promote the sustained resilience of the banking system.


The BSOS will capture forward-looking information consistent with BSP’s proactive approach to banking supervision.


The survey will also inform additional perspectives on the evolution of banks’ business models that can help enhance prudential regulations. The initial run of the BSOS will cover all universal/commercial, including foreign banks, and thrift banks and the Top 20 rural banks in terms of total loan portfolio.


The initial rollout of the survey will start in June 2018.


The BSP intends to expand the coverage of the survey to include all banks and to conduct the same on a semi-annual basis in the succeeding years. The aggregated results of the survey will be published by the BSP.

Read more: MB okays banking sector outlook survey

3-months suspension of TRAIN on fuel urged



By Rose de la Cruz



Rep. Michael Romero of 1 PACMAN partylist and assistant majority leader, has filed House Resolution 1919 urging the President to suspend for three months from June to August 2018 the imposition of excise tax rates on fuel and other petroleum prodicts under the TRAIN law, to ease inflation pressures and slow down the further deterioration of the peso.


He said that from January 2017 to May 2018, the Philippine peso lose about six percent of its purchasing power and inflation in January 2018 hit 4 percent, rising to 5.1 percent…

Read more: 3-months suspension of TRAIN on fuel urged

3 bills filed pushing for senior citizens commission



By Rose de la Cruz


Three bills—House Bills 802, 6251 and 7018—seeking the creation of a Commission on Senior Citizens, which now comprise 10 percent of the country’s population.


The bill seeks to institutionalize the benefits and rights of senior citizens (in the same vein the Commission on Youth is the children) with the power to hear and try complaints filed by the elderly within their jurisdictions particularly with respect to non-compliance on their rights and privileges (by organizations, institutions and society in their areas).


Rep. Ron Salo, assistant majority leader and Kabayan partylist, chairs…

Read more: 3 bills filed pushing for senior citizens commission

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