PH manufacturing up in September;
PH joins OECD framework on tax rules;
BSP says more LGUs to borrow funds for projects;
GSIS MPL Flex loans surpass P50B since October launch
PH joins OECD framework on tax rules;
BSP says more LGUs to borrow funds for projects;
GSIS MPL Flex loans surpass P50B since October launch
Category
🗞
NewsTranscript
00:00 Department of Finance Secretary Benjamin Dioknos says that the country has joined the OECD,
00:05 or Organization for Economic Cooperation and Development.
00:09 This and other stories in tonight's Business News Wrap-Up.
00:12 The Philippine Statistics Authority, or PSA, reports the country's manufacturing sector
00:19 picked up the pace in growth in September. Data from the monthly integrated survey of
00:24 industry showed the value of production index expanded by 8.9 percent from the previous 7.5
00:32 percent. Department of Finance or DOF Secretary Benjamin Dioknos disclosed the country has joined
00:38 as a member of the Organization for Economic Cooperation and Development, or OECD, G20
00:45 Inclusive Framework on Base Erosion and Profit Shifting, or BEPS. This to uphold tax fairness
00:52 and advocate international tax cooperation. The DOF chief highlighted the country's goal
00:57 to contribute to tax reform discussions. The Banco Central ng Pilipinas, or BSP, said more
01:04 local government units, or LGUs, ramped up efforts to borrow funds for their respective projects.
01:09 LGUs increased their lending activities, particularly in the first semester of this year,
01:15 to fund mainly infrastructure projects. The Government Service Insurance System, or GSIS,
01:21 reported an increase in interest for its multi-purpose program, or MPL Flex, among public
01:27 school teachers and other members. GSIS shared the number of MPL Flex loans has already surpassed
01:34 the 50.131 billion pesos worth of disbursements since the program was launched in October.
01:41 Sharm Zespina for The Nation.