January 19, 2018, 5:31 pm
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1 Philippine Peso = 0.07263 UAE Dirham
1 Philippine Peso = 2.14992 Albanian Lek
1 Philippine Peso = 0.03521 Neth Antilles Guilder
1 Philippine Peso = 0.37318 Argentine Peso
1 Philippine Peso = 0.02474 Australian Dollar
1 Philippine Peso = 0.03521 Aruba Florin
1 Philippine Peso = 0.03956 Barbados Dollar
1 Philippine Peso = 1.63687 Bangladesh Taka
1 Philippine Peso = 0.03163 Bulgarian Lev
1 Philippine Peso = 0.00745 Bahraini Dinar
1 Philippine Peso = 34.63172 Burundi Franc
1 Philippine Peso = 0.01978 Bermuda Dollar
1 Philippine Peso = 0.02627 Brunei Dollar
1 Philippine Peso = 0.13568 Bolivian Boliviano
1 Philippine Peso = 0.06382 Brazilian Real
1 Philippine Peso = 0.01978 Bahamian Dollar
1 Philippine Peso = 1.25445 Bhutan Ngultrum
1 Philippine Peso = 0.19324 Botswana Pula
1 Philippine Peso = 395.96518 Belarus Ruble
1 Philippine Peso = 0.03951 Belize Dollar
1 Philippine Peso = 0.02456 Canadian Dollar
1 Philippine Peso = 0.01896 Swiss Franc
1 Philippine Peso = 11.96895 Chilean Peso
1 Philippine Peso = 0.12736 Chinese Yuan
1 Philippine Peso = 56.62579 Colombian Peso
1 Philippine Peso = 11.15506 Costa Rica Colon
1 Philippine Peso = 0.01978 Cuban Peso
1 Philippine Peso = 1.77275 Cape Verde Escudo
1 Philippine Peso = 0.40883 Czech Koruna
1 Philippine Peso = 3.49743 Djibouti Franc
1 Philippine Peso = 0.1197 Danish Krone
1 Philippine Peso = 0.95886 Dominican Peso
1 Philippine Peso = 2.24462 Algerian Dinar
1 Philippine Peso = 0.25141 Estonian Kroon
1 Philippine Peso = 0.34978 Egyptian Pound
1 Philippine Peso = 0.53817 Ethiopian Birr
1 Philippine Peso = 0.01607 Euro
1 Philippine Peso = 0.03956 Fiji Dollar
1 Philippine Peso = 0.01433 Falkland Islands Pound
1 Philippine Peso = 0.01431 British Pound
1 Philippine Peso = 0.08957 Ghanaian Cedi
1 Philippine Peso = 0.9371 Gambian Dalasi
1 Philippine Peso = 177.94699 Guinea Franc
1 Philippine Peso = 0.14509 Guatemala Quetzal
1 Philippine Peso = 4.07219 Guyana Dollar
1 Philippine Peso = 0.15475 Hong Kong Dollar
1 Philippine Peso = 0.46509 Honduras Lempira
1 Philippine Peso = 0.11922 Croatian Kuna
1 Philippine Peso = 1.25771 Haiti Gourde
1 Philippine Peso = 4.9644 Hungarian Forint
1 Philippine Peso = 263.35047 Indonesian Rupiah
1 Philippine Peso = 0.06775 Israeli Shekel
1 Philippine Peso = 1.266 Indian Rupee
1 Philippine Peso = 23.41772 Iraqi Dinar
1 Philippine Peso = 723.08147 Iran Rial
1 Philippine Peso = 2.02255 Iceland Krona
1 Philippine Peso = 2.43928 Jamaican Dollar
1 Philippine Peso = 0.01399 Jordanian Dinar
1 Philippine Peso = 2.18216 Japanese Yen
1 Philippine Peso = 2.03224 Kenyan Shilling
1 Philippine Peso = 1.37189 Kyrgyzstan Som
1 Philippine Peso = 79.26622 Cambodia Riel
1 Philippine Peso = 8.12896 Comoros Franc
1 Philippine Peso = 17.80063 North Korean Won
1 Philippine Peso = 21.02452 Korean Won
1 Philippine Peso = 0.00594 Kuwaiti Dinar
1 Philippine Peso = 0.01622 Cayman Islands Dollar
1 Philippine Peso = 6.47765 Kazakhstan Tenge
1 Philippine Peso = 163.7856 Lao Kip
1 Philippine Peso = 29.88528 Lebanese Pound
1 Philippine Peso = 3.04292 Sri Lanka Rupee
1 Philippine Peso = 2.5093 Liberian Dollar
1 Philippine Peso = 0.24248 Lesotho Loti
1 Philippine Peso = 0.0603 Lithuanian Lita
1 Philippine Peso = 0.01227 Latvian Lat
1 Philippine Peso = 0.02646 Libyan Dinar
1 Philippine Peso = 0.18183 Moroccan Dirham
1 Philippine Peso = 0.33356 Moldovan Leu
1 Philippine Peso = 0.98418 Macedonian Denar
1 Philippine Peso = 26.46361 Myanmar Kyat
1 Philippine Peso = 47.8837 Mongolian Tugrik
1 Philippine Peso = 0.1593 Macau Pataca
1 Philippine Peso = 6.96203 Mauritania Ougulya
1 Philippine Peso = 0.64676 Mauritius Rupee
1 Philippine Peso = 0.30795 Maldives Rufiyaa
1 Philippine Peso = 14.11195 Malawi Kwacha
1 Philippine Peso = 0.37086 Mexican Peso
1 Philippine Peso = 0.07803 Malaysian Ringgit
1 Philippine Peso = 0.24161 Namibian Dollar
1 Philippine Peso = 7.0807 Nigerian Naira
1 Philippine Peso = 0.6072 Nicaragua Cordoba
1 Philippine Peso = 0.15518 Norwegian Krone
1 Philippine Peso = 2.0265 Nepalese Rupee
1 Philippine Peso = 0.02715 New Zealand Dollar
1 Philippine Peso = 0.0076 Omani Rial
1 Philippine Peso = 0.01978 Panama Balboa
1 Philippine Peso = 0.06341 Peruvian Nuevo Sol
1 Philippine Peso = 0.0624 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.18473 Pakistani Rupee
1 Philippine Peso = 0.06706 Polish Zloty
1 Philippine Peso = 110.52215 Paraguayan Guarani
1 Philippine Peso = 0.07202 Qatar Rial
1 Philippine Peso = 0.07488 Romanian New Leu
1 Philippine Peso = 1.11739 Russian Rouble
1 Philippine Peso = 16.52987 Rwanda Franc
1 Philippine Peso = 0.07417 Saudi Arabian Riyal
1 Philippine Peso = 0.15387 Solomon Islands Dollar
1 Philippine Peso = 0.26503 Seychelles Rupee
1 Philippine Peso = 0.13841 Sudanese Pound
1 Philippine Peso = 0.15847 Swedish Krona
1 Philippine Peso = 0.02609 Singapore Dollar
1 Philippine Peso = 0.01433 St Helena Pound
1 Philippine Peso = 0.4392 Slovak Koruna
1 Philippine Peso = 150.90981 Sierra Leone Leone
1 Philippine Peso = 10.85839 Somali Shilling
1 Philippine Peso = 393.89636 Sao Tome Dobra
1 Philippine Peso = 0.17306 El Salvador Colon
1 Philippine Peso = 10.18552 Syrian Pound
1 Philippine Peso = 0.24175 Swaziland Lilageni
1 Philippine Peso = 0.63054 Thai Baht
1 Philippine Peso = 0.04769 Tunisian Dinar
1 Philippine Peso = 0.04409 Tongan paʻanga
1 Philippine Peso = 0.07507 Turkish Lira
1 Philippine Peso = 0.13281 Trinidad Tobago Dollar
1 Philippine Peso = 0.5839 Taiwan Dollar
1 Philippine Peso = 44.34335 Tanzanian Shilling
1 Philippine Peso = 0.56547 Ukraine Hryvnia
1 Philippine Peso = 71.79588 Ugandan Shilling
1 Philippine Peso = 0.01978 United States Dollar
1 Philippine Peso = 0.56468 Uruguayan New Peso
1 Philippine Peso = 160.81883 Uzbekistan Sum
1 Philippine Peso = 0.19729 Venezuelan Bolivar
1 Philippine Peso = 449.14952 Vietnam Dong
1 Philippine Peso = 2.0449 Vanuatu Vatu
1 Philippine Peso = 0.04966 Samoa Tala
1 Philippine Peso = 10.5352 CFA Franc (BEAC)
1 Philippine Peso = 0.0534 East Caribbean Dollar
1 Philippine Peso = 10.5352 CFA Franc (BCEAO)
1 Philippine Peso = 1.90645 Pacific Franc
1 Philippine Peso = 4.94363 Yemen Riyal
1 Philippine Peso = 0.24183 South African Rand
1 Philippine Peso = 102.64043 Zambian Kwacha
1 Philippine Peso = 7.15783 Zimbabwe dollar

‘Build’ goes in full swing

The government’s Build, Build, Build program is expected to go on full gear this year, with around 60 projects already under the construction and in the pre-construction phases, said Gil Beltran,  undersecretary of the Department of Finance (DOF).

This developed as DOF  is eyeing to submit to Congress the second package of the comprehensive tax reform program (CTRP) as session resumes today.

According to data provided by Beltran, 44 major infrastructure projects are under construction as of January 10, while 15 are in the pre-construction phase.

“The BBB policy will go on a high gear. There are already 60 projects, big ones, the project cost of those is P1.8 trillion mostly funded by (Official Development Assistance). The projects are already under construction or under pre-construction, they are putting the finer details,” Beltran said.

Carlos Dominguez III, finance secretary, said the  roll-out of big-ticket infrastructure projects are proceeding as planned following the signing into law by President Duterte and the subsequent  implementation of the Tax Reform Acceleration and Inclusion Act (TRAIN), which slashes personal income tax rates while raising additional revenues for infrastructure and social services.

About 70 percent of the incremental revenues from the TRAIN have been earmarked for infrastructure, and up to 30 percent for social services.

“It’s coming together. Believe it or not, even I am surprised. The money is coming in from our tax, the loans are coming in, the implementing agencies are getting their act together, its coming together,”Dominguez said.

Included in the projects listed under construction are, among others, the Metro Manila Skyway 3, Mactan-Cebu International Airport Project, CALAX Expressway, MRT7, and the PNR South Long Haul.

Meanwhile, those under the pre-construction phase include the Mega Manila Subway, Metro Manila Bus Rapid Transit, Malolos-Clark Rail, Metro Manila Flood Control, and the North-South Commuter Rail, among others.

The government earlier said that it is planning to spend some P8.4 trillion on its infrastructure program, dubbed as the Build, Build, Build agenda, over the medium term, or about $168billion in the next five years.

Based on earlier estimates done by the National Economic and Development Authority, the Build, Build, Build program is expected to generate 823,696 jobs this year; 1,115,999 jobs in 2019; 1,228,964 jobs in 2020; 1,399,463 jobs in 2021; and 1,705,021 jobs in 2022.

Following the enactment of the TRAIN, which slashes personal income tax rates while raising additional revenues for infrastructure and social services, the DOF is preparing to introduce to Congress the second package of the CTRP, which focuses on reducing corporate income tax (CIT) rates while rationalizing fiscal incentives. 

“We should be ready by the 15th, because that’s when they (Congress) will open. We are just putting the final touches on it,” Carlos Dominguez III, finance secretary, said.

“We write to the speaker, we officially transmit to the speaker of the house. Usually, the committee will review it first and then endorse it to the chair. The chair will file it, (it will have a) house number, and then it will be read again in the plenary and referred to the committee. There’s a process,” said Karl Kendrick Chua, finance undersecretary.

Under package two, the DOF aims to lower the CIT rate to 25 percent, while rationalizing incentives for companies to make these “performance-based, targeted, time-bound, and transparent,” Chua said. 

Through this proposal, the DOF said the government would be able to ensure that incentives granted to businesses generate jobs, stimulate the economy in the countryside and promote research and development; contain sunset provisions so that tax perks do not last forever; and are reported so the government can determine the magnitude of their costs and benefits to the economy.  
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