+ Follow FINANCE ASSISTANT SECRETARY GIL BELTRAN Tag
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[ArticleID] => 300409
[Title] => Consolidated public sector deficit down to P41.62-B
[Summary] => The Philippines’ combined budget deficits for the government, state-owned companies and institutions such as pension funds narrowed 55.8 percent in the first half of the year, the Department of Finance (DOF) reported yesterday.
The so-called consolidated public-sector deficit (CPSD) fell to P41.62 billion, or 1.5 percent of gross domestic product (GDP), from P94.23 billion a year earlier, reflecting an improvement in the government’s finances, the DOF said in a statement.
[DatePublished] => 2005-10-07 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 299281
[Title] => NG to borrow $600M for fiscal restructuring
[Summary] => The National Government (NG) wants to borrow $600 million for fiscal restructuring loan program next year if its budget position will continue to improve, a ranking government official said yesterday.
"Our deficit is below 2.5 percent. Maybe we can ask our multilateral creditors like World Bank to lend us money for further fiscal strengthening," Finance Assistant Secretary Gil Beltran said.
Beltran said the NG was not able to borrow this particular loan from the WB for the past four years because of the government’s weak fiscal condition.
[DatePublished] => 2005-09-30 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 293324
[Title] => Government won’t meet ‘sin’ tax target
[Summary] => The government said yesterday it expected to fall well short of its goal of raising P15 billion this year from a tax hike on alcohol and tobacco after disappointing initial revenues from the measure.
The "sin" tax law, passed in December as the first of a package of revenue-raising steps, was aimed at narrowing a hefty budget deficit that has deterred investors and steadily raised the country’s debt burden.
[DatePublished] => 2005-08-25 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 288317
[Title] => Consolidated public sector deficit seen declining to P160.6B in 2005
[Summary] => The Department of Finance (DOF) expects the country’s consolidated public sector deficit (CPSD) to go down to P160.6 billion or three percent of the country’s gross domestic product (GDP) this year if the new expanded value-added tax (EVAT) law is implemented.
But the DOF warned that without the additional revenues from VAT, the CPSD would reach P180.3 billion or 3.4 percent of GDP.
The budget deficit of the National Government would also be narrowed down to P160.2 billion this year or three percent of GDP if the VAT law is imposed.
[DatePublished] => 2005-07-26 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 287620
[Title] => Government to raise P24.5B from privatization program
[Summary] => The National Government (NG) has programmed to raise P24.5 billion from its privatization efforts for this year, a top finance official said yesterday.
Finance Assistant Secretary Gil Beltran said the bulk of this amount or P24 billion has been committed by the Power Sector Assets and Liabilities Management Corp. (PSALM) from the sale of National Power Corp. (Napocor) assets that are expected to be privatized this year.
PSALM is an entity created under the Electric Power Industry Reform Act (EPIRA) to manage the finances and privatization of Napocor.
[DatePublished] => 2005-07-22 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 284004
[Title] => Oil tariff cut won’t widen budget deficit — DOF official
[Summary] => The Philippine government’s plan to reduce taxes on oil imports won’t widen the budget deficit this year beyond the P180 billion official estimate, Finance Assistant Secretary Gil Beltran said.
President Arroyo plans to cut the tariff on imported crude and refined oil products to three percent from five percent to cushion the impact of rising oil prices abroad, Press Secretary Ignacio Bunye said in a statement without giving a timetable for the reduction.
[DatePublished] => 2005-06-29 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097171
[AuthorName] => Jun Elias
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 280164
[Title] => Congress nixes minimum base for 3% common carriers tax
[Summary] => Congress has removed the minimum base for the three-percent common carriers tax collected from buses, jeepneys and other land-based transport carriers, requiring operators to instead submit their actual gross income on a quarterly basis.
The proposed law was approved earlier this week and the Department of Finance (DOF) said this would increase the collection of the Bureau of Internal Revenue (BIR).
[DatePublished] => 2005-06-03 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
FINANCE ASSISTANT SECRETARY GIL BELTRAN
Array
(
[results] => Array
(
[0] => Array
(
[ArticleID] => 300409
[Title] => Consolidated public sector deficit down to P41.62-B
[Summary] => The Philippines’ combined budget deficits for the government, state-owned companies and institutions such as pension funds narrowed 55.8 percent in the first half of the year, the Department of Finance (DOF) reported yesterday.
The so-called consolidated public-sector deficit (CPSD) fell to P41.62 billion, or 1.5 percent of gross domestic product (GDP), from P94.23 billion a year earlier, reflecting an improvement in the government’s finances, the DOF said in a statement.
[DatePublished] => 2005-10-07 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 299281
[Title] => NG to borrow $600M for fiscal restructuring
[Summary] => The National Government (NG) wants to borrow $600 million for fiscal restructuring loan program next year if its budget position will continue to improve, a ranking government official said yesterday.
"Our deficit is below 2.5 percent. Maybe we can ask our multilateral creditors like World Bank to lend us money for further fiscal strengthening," Finance Assistant Secretary Gil Beltran said.
Beltran said the NG was not able to borrow this particular loan from the WB for the past four years because of the government’s weak fiscal condition.
[DatePublished] => 2005-09-30 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 293324
[Title] => Government won’t meet ‘sin’ tax target
[Summary] => The government said yesterday it expected to fall well short of its goal of raising P15 billion this year from a tax hike on alcohol and tobacco after disappointing initial revenues from the measure.
The "sin" tax law, passed in December as the first of a package of revenue-raising steps, was aimed at narrowing a hefty budget deficit that has deterred investors and steadily raised the country’s debt burden.
[DatePublished] => 2005-08-25 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 288317
[Title] => Consolidated public sector deficit seen declining to P160.6B in 2005
[Summary] => The Department of Finance (DOF) expects the country’s consolidated public sector deficit (CPSD) to go down to P160.6 billion or three percent of the country’s gross domestic product (GDP) this year if the new expanded value-added tax (EVAT) law is implemented.
But the DOF warned that without the additional revenues from VAT, the CPSD would reach P180.3 billion or 3.4 percent of GDP.
The budget deficit of the National Government would also be narrowed down to P160.2 billion this year or three percent of GDP if the VAT law is imposed.
[DatePublished] => 2005-07-26 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 287620
[Title] => Government to raise P24.5B from privatization program
[Summary] => The National Government (NG) has programmed to raise P24.5 billion from its privatization efforts for this year, a top finance official said yesterday.
Finance Assistant Secretary Gil Beltran said the bulk of this amount or P24 billion has been committed by the Power Sector Assets and Liabilities Management Corp. (PSALM) from the sale of National Power Corp. (Napocor) assets that are expected to be privatized this year.
PSALM is an entity created under the Electric Power Industry Reform Act (EPIRA) to manage the finances and privatization of Napocor.
[DatePublished] => 2005-07-22 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096364
[AuthorName] => Donnabelle L. Gatdula
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 284004
[Title] => Oil tariff cut won’t widen budget deficit — DOF official
[Summary] => The Philippine government’s plan to reduce taxes on oil imports won’t widen the budget deficit this year beyond the P180 billion official estimate, Finance Assistant Secretary Gil Beltran said.
President Arroyo plans to cut the tariff on imported crude and refined oil products to three percent from five percent to cushion the impact of rising oil prices abroad, Press Secretary Ignacio Bunye said in a statement without giving a timetable for the reduction.
[DatePublished] => 2005-06-29 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1097171
[AuthorName] => Jun Elias
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 280164
[Title] => Congress nixes minimum base for 3% common carriers tax
[Summary] => Congress has removed the minimum base for the three-percent common carriers tax collected from buses, jeepneys and other land-based transport carriers, requiring operators to instead submit their actual gross income on a quarterly basis.
The proposed law was approved earlier this week and the Department of Finance (DOF) said this would increase the collection of the Bureau of Internal Revenue (BIR).
[DatePublished] => 2005-06-03 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096655
[AuthorName] => Des Ferriols
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
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