PH manufacturing up in September

PTVPhilippines

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

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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.

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