Provincial Treasurer's Office - CAPIZ

10/12/2025

LOOK: Finance Secretary Frederick D. Go underscored that the affirmation of Standard & Poor’s (S&P) ‘BBB+’ credit rating with positive outlook for the Philippines is proof of the country’s strong macroeconomic fundamentals and the administration’s sustained commitment to pursuing fiscal consolidation.

“We welcome this development. We will ensure that every policy decision will support sustainable growth and long-term stability,” he said.

“Having a high credit rating will benefit Filipinos because this means cheaper financing for the government, and in effect, more resources for essential public services. This supports our goal of uplifting the life of every Filipino,” the Finance Chief added.

Read more: https://www.dof.gov.ph/sec-go-sps-credit-rating-affirmation-and-positive-outlook-is-proof-of-phs-strong-economic-performance-and-commitment-to-fiscal-consolidation/

11/09/2025

23/05/2025

Suportado ni Finance Secretary Ralph G. Recto ang kautusan ng Pangulo na ang lahat ng miyembro ng gabinete ay magsumite ng kanilang courtesy resignation. Ayon kay Recto, buong-buo ang kanyang suporta sa direktiba ng Pangulo para sa mga kasapi ng gabinete na mag-resign sa tungkulin. Binigyang-diin ng...

05/05/2025

The Department of Finance (DOF) extends its heartfelt condolences to the family and loved ones of former Finance Secretary Edgardo B. Espiritu, who passed away last April 28, 2025.

Former Finance Secretary Espiritu served the Department from 1998-1999, championing policies that steered the country through the Asian Financial Crisis.

He also held top management roles in major financial institutions, such as Metrobank, the Philippine National Bank, and Westmont Bank, among others.

In addition, the former Finance Chief served as the Philippine Ambassador to the United Kingdom, Ireland, and Iceland.

04/04/2025

LOOK: Finance Secretary Ralph G. Recto has underscored that the Philippine economy remains relatively resilient amid global trade shifts, with the government leveraging the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act to attract more investors to locate in the country.

“The Philippine economy is primarily driven by domestic demand rather than exports. This makes us relatively resilient against trade wars. However, as with all countries, we are not spared from the impact of the expected decline in international trade and possible slowdown of global growth due to supply chain disruptions, higher interest rates, and higher inflation,” the Finance Chief said.

“Nevertheless, the CREATE MORE Act will strengthen our ability to attract investors looking to expand or relocate to the Philippines, given the relatively lower tariffs imposed on our exports to the United States (US). We are also actively pursuing more free trade agreements with our global partners,” he added.

Compared to its ASEAN neighbors, Philippine exports to the US will be subjected to a lower tariff of 17%. The US has imposed higher tariffs on Vietnam (46%), Thailand (36%), Indonesia (32%), Malaysia (24%), and Cambodia (49%).

Despite this, the government sees opportunities arising from global trade development.

READ MORE: https://www.dof.gov.ph/recto-ph-economy-remains-relatively-resilient-amid-global-trade-shifts-govt-to-leverage-create-more-to-attract-more-investors/

14/03/2025

LOOK: State-run Land Bank of the Philippines (LANDBANK) has received an upgraded Viability Rating (VR) from Fitch Ratings, rising from ‘bb’ to ‘bb+’, reflecting the Bank’s improved standalone financial strength. This upgrade highlights LANDBANK’s stronger capital buffers and enhanced profitability outlook.

Fitch also reaffirmed LANDBANK’s Long-Term Issuer Default Rating (IDR) at ‘BBB’/Stable and Government Support Rating (GSR) at ‘bbb’, emphasizing the Bank’s systemic importance, full state ownership, and continued strong government support.

The upward revision of LANDBANK’s VR signifies its resilience in navigating external challenges while reinforcing its role as a key policy bank. The upgrade follows Fitch’s assessment of the Philippine banking sector’s operating environment, which was revised upward to 'bbb-'/stable from 'bb+'/stable, a key factor in the Bank’s credit profile.

READ MORE: https://www.landbank.com/news/fitch-upgrades-landbanks-viability-rating-citing-stronger-financial-position

18/02/2025

“The 🇺🇸🤝🇵🇭 relationship is , propelled by strong economic cooperation. Department of Finance Secretary Ralph Recto and I discussed ways to expand bilateral trade and investment opportunities as . ” - Ambassador MaryKay Carlson

https://x.com/usambph/status/1891781626465521958?s=46

12/02/2025

LOOK: The Philippine economy has maintained a steady gross domestic product (GDP) growth of 5.6% in 2024—the second fastest in ASEAN—despite multiple challenges. The outlook for 2025 also remains bullish, fueled by lower inflation and higher consumption and investments.

As of writing, the Philippines currently ranks as the 8th fastest-growing economy last year compared to the 46 countries that have released the fourth-quarter GDP data.

“While this is below our target, we continue to be one of the fastest-growing economies in both the region and the world. This is despite external and local challenges such as extreme weather events, geopolitical tensions, and subdued global demand,” Finance Secretary Ralph G. Recto said.

In 2024, services and industry remained the main drivers of growth, expanding by 6.7% and 5.6%, respectively.

Read more: https://www.dof.gov.ph/ph-economy-maintained-steady-growth-in-2024-despite-challenges-outlook-for-2025-remains-bullish-driven-by-lower-inflation-higher-consumption-and-investments/