RalphRecto.Ph

DEC

19

2024

CREATE MORE is among PBBM’s biggest Christmas and New Year’s gifts to investors and the Filipino people

PRESS RELEASE The much-awaited enactment of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act in 2024 is one of the Marcos, Jr. administration’s biggest Christmas and New Year’s gifts to both local

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DEC

16

2024

PBBM admin achieves multiple economic milestones in 2024, drives PH again as one of the fastest-growing economies in Asia

PRESS RELEASE The Marcos Jr. administration has made 2024 a banner year for economic achievements and has once again successfully positioned the Philippines as among the fastest-growing economies in Asia despite global challenges such as geopolitical tensions. “2024 is a year of

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TAG Amendments to the Agricultural Tariffication Act, ASEAN, Bangko Sentral ng Pilipinas (BSP), Bureau of Customs (BOC), Bureau of Internal Revenue (BIR), China, CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy), Department of Finance (DOF), Development Budget Coordination Committee (DBCC), E.O. No. 62, Ease of Paying Taxes (EOPT) Act, Excise Tax on Single-Use Plastic Bags, government-owned and controlled corporations (GOCCs), Gross Domestic Product (GDP), gross national income (GNI), Indonesia, Institute of International Finance (IIF), Macro Poverty Outlook for the Philippines, Malaysia, Medium Term Fiscal Program, Motor Road User's Tax, Package 4 of the Comprehensive Tax Reform Program, President Ferdinand Marcos Jr, Public-Private Partnership (PPP) Code, R&I, Ralph Recto, Rationalization of the Fiscal Mining Regime, Real Property Valuation and Assessment Reform Act. (RPVARA), S&P, Singapore, Value-added Tax (VAT) on Non-Resident, VAT Refund Mechanism for Non-Resident Tourists Act, World Bank (WB)

DEC

06

2024

Recto: PH labor force remains vibrant as unemployment rate continues to drop way below the 2024 full-year target

Finance Secretary Ralph G. Recto highlighted the sustained strength of the country’s labor market as the unemployment rate fell to 3.9% in October 2024, bringing the year-to-date average to 4.0%—well below the full-year target range. The Philippine Development Plan sets the

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TAG CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy), Department of Energy (DOE), Department of Finance (DOF), Department of Labor and Employment (DOLE), Enterprise-Based Education and Training (EBET) Framework Act, Green Skills for Green Jobs program, Information Technology and Business Process Association of the Philippines (IBPAP), National Economic Development Authority (NEDA), Philippine Development Plan, Ralph Recto, Trabaho Para sa Bayan (TPB) Plan

OCT

08

2024

Recto upbeat on 1.45M new jobs created for Filipinos in August, expects more employment opportunities for all as inflation drops and holiday season kicks in

PRESS RELEASE Finance Secretary Ralph G. Recto expressed optimism over the 1.45 million new jobs created for Filipinos in August 2024, anticipating even more employment opportunities as inflation drops to a four-year low and the holiday season approaches. “I am very glad of the

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TAG CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy), Department of Finance (DOF), employment, Public-Private Partnership (PPP), Ralph Recto, underemployment, unemployment

AUG

28

2024

Recto leads high-level meeting of Finance Ministers for climate action, urges peers to drive integrated solutions that bring climate resilience and poverty eradication together

PRESS RELEASE Finance Secretary Ralph G. Recto has urged his fellow Finance Ministers to drive integrated solutions that bring climate action and poverty eradication all together, stressing the need to balance economic development and climate resilience during a high-level

AUG

23

2024

Moody’s affirmation of PH credit rating reflects strong confidence in the country’s high medium-term growth following biz-friendly reforms and fiscal consolidation

PRESS RELEASE Finance Secretary Ralph G. Recto has welcomed Moody’s recent affirmation of the Philippines’ Baa2 rating with Stable outlook, which reflects strong confidence in the country’s high medium-term growth potential due to the enactment of investment-friendly

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TAG Build Better More, Business Process Outsourcing (BPO), CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy), Department of Finance (DOF), foreign direct investment )FDI), Gross Domestic Product (GDP), Medium-Term Fiscal Framework (MTFF), Moody's, President Ferdinand Marcos Jr, Ralph Recto

AUG

08

2024

Recto: PH continues to lead ASEAN with strong 6.3% Q2 GDP growth driven by robust construction and investments as Build Better More proceeds in full steam

PRESS RELEASE August 8, 2024 Finance Secretary Ralph G. Recto has underscored that the Philippine economy is once again among the frontrunners in the ASEAN region, posting a strong year-on-year (yoy) growth of 6.3% in the second quarter of 2024 driven by robust construction and

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TAG Build Better More, CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy), Department of Finance (DOF), Development Budget Coordination Committee (DBCC), Gross Domestic Product (GDP), Philippine economy, President Ferdinand Marcos Jr, Public-Private Partnership Code (PPP Code), Ralph Recto, unemployment

JUN

21

2024

Recto assures Japanese investors: CREATE MORE solves key investor concerns, to give birth to more thriving economic corridors in every corner of PH

Press Release Finance Secretary Ralph G. Recto has assured Japanese investors that the ongoing amendments to the country’s fiscal incentives system will address their key concerns, giving birth to more thriving economic corridors in every corner of the Philippines–starting with

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TAG ASEAN-JAPAN CENTRE, Asia Brewery President Michael Tan, Ayala CEO Cezar Consing, Bangko Sentral ng Pilipinas (BSP), Bases Conversion and Development Authority (BCDA), BCDA CEO Joshua Bingcang, BSP Deputy Governor Francisco Dakila Jr, CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy), DBM Secretary Amenah Pangandaman, Deparment of Budget and Management (DBM), Department of Energy (DOE), Department of Finance (DOF), Department of Trade and Industry (DTI), Department of Transportation (DOTr), DOE Undersecretary Felix Fuentebella, DOTr Secretary Jaime Bautista, Double Dragon Chairman Injap Sia, DTI Secretary Alfredo Pascual, Filinvest Development Corporation Supply Chain Management Head Andrew Gotianun III, foreign direct investment )FDI), Foreign Investments Act (FIA), Green Lane Endorsement, Japan External Trade Organization (JETRO), Japan-Philippines Economic Cooperation Committee (JPECC), Luzon Economic Corridor, Metrobank Head of Remittance and Trade Department Joseph Pelaez, Metrobank Japan Country Manager Yukinori Kojima, Mitsubishi UFJ Morgan Stanley, Mizuho, Morgan Stanley MUFG Securities Managing Director and Principal Global Economist Chiwoong Lee, National Economic Development Authority (NEDA), NEDA Secretary Arsenio Balisacan, Nomura, Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA), Official Development Assistance (ODA), Philippine Airlines General Counsel Carlos Luis Fernandez, Philippine Domestic Submarine Cable Network (PDSCN), Philippine Economic Briefing (PEB) in Japan, Public Service Act (PSA), Public-Private Partnership Code (PPP Code), Ralph Recto, Rationalization of the Mining Fiscal Regime, Renewable Energy Act, Retail Trade Liberalization Act, San Miguel CEO Ramon S. Ang, Secretary Frederick Go, SM Investments Corporation Senior VP for Finance Franklin Gomez, SMBCm Daiwa Securities Group Inc., Steel Asia Manufacturing Corporation President Sean Andre Sy, Stores Specialist Group Inc. President Anthony Huang, VAT refunds, Yazaki Torres Inc. President Felcaster Torres

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