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HIGHLIGHTS OF THE 2018 NATIONAL BUDGET Primer on the Unified Reporting System SARO now online

HIGHLIGHTS OF THE 2018 NATIONAL BUDGET

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Primer on the Unified Reporting System

SARO now online

Latest Issuances

Circular Letter No. 2018-3
Tuesday, 16 January 2018
January 16, 2018 Adjustment in the Employer (Government) Share in the Health Insurance Premium (HIP) Contributions to the Philippine Health Insurance Corporation (PhilHealth) Download Circular Letter...
National Budget Circular No. 574
Wednesday, 10 January 2018
January 10, 2018  Implementation of the Increase in Base Pay of theMilitary and Uniformed Personnel (MUP) in theGovernment Beginning January 1, 2018, and OtherProvisions of Congress Joint...
Circular Letter No. 2018-2
Monday, 08 January 2018
January 8, 2018 Budget Fora on the FY 2019 Budget Preparation Download Circular Letter No. 2018-2...
Corporate Budget Memorandum No. 40
Wednesday, 03 January 2018
January 3, 2018 Corporate Budget Call For FY 2019 Download Corporate Budget Memorandum No....
Circular Letter No. 2018-1
Wednesday, 03 January 2018
January 3, 2018 Annual Revalidation of Identification Cards Issued to Authorized Agency Liaison Officers Download Circular Letter No. 2018-1...

News Releases

On the back of sound macroeconomic fundamentals, prudent economic policies, and sustained economic growth, Fitch Ratings has upgraded the Philippines’ long-term credit rating from “BBB-” to “BBB” with a stable outlook last December 11, 2017. Credit ratings assess the default risk of a prospective debtor, providing guidance to investors, corporations, and governments worldwide. The improved credit rating of the Philippines will therefore enhance the government’s access to financing and potentially present more favorable terms and conditions for future loans. Among the key ratings drivers cited by Fitch include the Philippine economy’s consistent growth performance evidenced by strong domestic demand and inflows of foreign direct investment, as well as the country’s robust fiscal position. The ratings agency lauded the fiscal policies of the government that are geared to boost infrastructure spending and liability management. The tax reform initiative, in particular, will generate...
National government disbursements posted a 28.2% increase in the month of October, the highest growth recorded so far in the year, as spending reached P226.9 billion. This brings cumulative disbursements from January to October at P2.241 trillion, a 10% increase year-on-year. In terms of expense class, Current Operating Expenditures rose by 35.2%, reaching P164.1 billion in October 2017. It was primarily driven by the growth in Maintenance and Other Operating Expenditures (MOOE), which grew by 111.0% to reach P40.4 billion. This was on account of the release of cash assistance under the Pantawid Pamilyang Pilipino Program (4Ps) , social pension and other assistance programs for the victims of natural disasters and calamities. At the same time, expenditures in connection with the relief works and operations of the DSWD for Marawi contributed to the spike in MOOE spending. Personnel Services meanwhile amounted to P60 billion, increasing by 8.8%, due to the higher compensation of...
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