Philippines to Pilot Budget Rollout Reform to Streamline Salary Adjustments
The Philippine Department of Budget and Management (DBM) will pilot an automated fund release system in the fourth quarter to address delays in salary adjustments for government workers, particularly public school teachers, due to promotions and reclassifications.
This article requires PRO
This article is outside the free access window or is a special report. PRO unlocks it and the full archive.
Related articles
- NUP optimistic over talks with budget watchdogs – Puno
Deputy Speaker Ronaldo Puno stated that the National Unity Party (NUP) is optimistic about upcoming discussions with the People's Budget Coalition (PBC) regarding the proposed national budget. The PBC has reportedly received invitations from several lawmakers for such meetings.
- PSEi Dips as Investors Await Inflation Data, Factory Output Woes
The Philippine stock market closed lower as investors adopted a cautious stance ahead of the release of October inflation data. Weak factory activity, contracting for the second consecutive month, also weighed on sentiment, pushing the benchmark index down by 0.99%.
- Philippines' Growing Rice Demand Fuels Surge in Cambodian Exports
The Philippines' increasing demand for rice is significantly boosting Cambodian rice exports, making Manila its largest market within ASEAN. This shift sees a decrease in re-exports via Vietnam and a rise in direct procurement.
- BSP Not Yet Considering Rate Cuts Amid Inflationary Pressures
The Bangko Sentral ng Pilipinas (BSP) is not yet considering interest rate cuts, as monetary tightening remains necessary to contain inflation. Inflation is expected to remain elevated in the coming months, with the policy rate currently at 5.50%.