Finance Secretary Ralph Recto expressed confidence in the Philippines’ economic prospects for 2025, citing the newly signed Value-Added Tax (VAT) Refund Mechanism for Non-Resident Tourists Act as a catalyst for increased tourism and domestic spending. President Ferdinand Marcos Jr. signed Republic Act (RA) No. 12079 into law on December 9, introducing a VAT refund system […]

Finance Secretary Ralph Recto has highlighted that Standard & Poor’s (S&P) recent decision to affirm the Philippines’ BBB+ credit rating and upgrade its outlook to “positive” is a strong endorsement of the government’s economic and fiscal policies. “It reaffirms our stable economic and political environment and that we are on track to achieve a growth-enhancing […]

The Philippine government is actively courting British investors, urging them to take advantage of opportunities in the country’s growing economy. Finance Secretary Ralph Recto emphasized the Philippines’ potential for high returns during the Philippine Economic Briefing in London on October 31, 2024. “If you are looking for a place to grow your business and make […]