Day: June 5, 2025

Manila: The government continues to manage the large debt it has inherited from the previous administration by growing the economy faster, thus bringing borrowings down to a sustainable level and below the 70 percent international threshold, the Department of Finance (DOF) said. In a statement Thursday, the DOF said the national government’s debt, which amounted to PHP16.75 trillion as of end-April this year, is still relatively lower than most countries in Asia. According to Philippines News Agency, Japan’s total debt is at PHP485.94 trillion; Singapore’s at PHP53.68 trillion; South Korea’s at PHP46.89 trillion; Indonesia’s at PHP31.37 trillion; and Thailand’s at

Manila: Headline inflation further slowed to 1.3 percent in May, down from 1.4 percent in April, marking the lowest recorded rate since November 2019’s 1.2 percent, as reported by the Philippine Statistics Authority (PSA). According to Philippines News Agency, National Statistician Dennis Mapa stated that this brought the year-to-date average inflation to 1.9 percent, aligning with the lower end of the government’s target range of 2 to 4 percent. The reduction was primarily attributed to a slower increase in the index of housing, water, electricity, gas, and other fuels, which decreased to 2.3 percent from 2.9 percent in April. Additionally,

Metro Manila: A bettor from Metro Manila bagged the PHP21.7 million jackpot in Wednesday’s MegaLotto 6/45 draw. The Philippine Charity Sweepstakes Office (PCSO) announced Thursday that the winning ticket, purchased in Project 7, Quezon City, had the combination 42-28-04-29-10-30. According to Philippines News Agency, the winner has one year to claim the PHP21,749,042.20 prize at the PCSO main office in Mandaluyong City, subject to a 20 percent tax. The ticket holder must present the winning ticket and two valid IDs to claim the prize money. A total of 44 bettors also won PHP32,000 each for correctly guessing five of the

Manila: More than 99 percent of Government Service Insurance System (GSIS) transactions from January to June 2025 were processed online, as it ramped up its digital services under the banner of ‘digital GINHAWA.’ According to Philippines News Agency, GSIS President and General Manager Arnulfo Veloso highlighted that the digital shift has provided ‘comfort, accessibility, and peace of mind’ to its members and pensioners. Key services such as loan applications, information inquiries, and pensioners’ compliance are now accessible through the GSIS Touch app and GWAPS (GSIS Wireless Automated Processing System) kiosks. In a recent news release, Veloso stated, “Applying for loans,

Manila: Most areas in the country will experience rains due to the southwest monsoon or “habagat” and the trough of a low-pressure area (LPA), the weather bureau said on Thursday. As of 2 a.m., the LPA being monitored outside the Philippine Area of Responsibility is unlikely to develop into a tropical cyclone within the next 24 hours, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said. According to Philippines News Agency, the trough of the LPA will bring scattered rains and thunderstorms over Eastern Samar, Leyte, Southern Leyte, Dinagat Islands, and Surigao del Norte. The same weather condition caused