Abbey M.

Malacañang has agreed with the Bangko Sentral ng Pilipinas (BSP) position that the country's economy can withstand the continued weakening of the peso against the dollar, provided it remains orderly and controlled.

Palace Press Office Undersecretary Claire Castro said the statement of BSP Governor Eli Remolona Jr. on the possible decline of the peso to PHP 63.50 per dollar is based on data.

The Palace also said the peso is affected by various global factors, including US interest rates, tensions in the Middle East, and rising oil prices in the world market.

The administration of President Ferdinand Marcos Jr. assured the public that it will continue to work with the BSP to maintain economic stability and protect the purchasing power of Filipinos.

The President, economic managers, and BSP officials have also met at Malacañang to discuss measures to cushion the impact of the peso's depreciation on the public.

"Ang economic team po kasi at ang BSP ay nagtatrabaho in sync, in maintaining micro economic stability and safeguarding the purchasing power of the Filipinos. So lahat ay dapat gawin para mapigilan ang pagbaba ng value ng peso dahil naniniwala pa rin ang pamahalaan sa ginagawa ng BSP."

(The economic team and the BSP work in sync in maintaining macroeconomic stability and safeguarding the purchasing power of Filipinos. So everything must be done to prevent the decline in the value of the peso because the government still believes in what the BSP is doing.)

The Manila Electric Company (Meralco) warned of a possible increase in electricity rates this June following the consecutive red alerts on the Luzon grid in May.

According to the Independent Electricity Market Operator of the Philippines (IEMOP), spot market electricity prices reached as high as PHP 32 per kilowatt-hour at the peak of the red alert period from May 13 to 15.

Meralco said the demand for electricity also surged due to the intense heat, surpassing the peak demand recorded last year.

The company added that higher consumption from cooling devices and the lack of electricity supply are driving up prices in the electricity market.

Consumers are expected to feel the possible additional charges in their next billing cycle in June.

Executive Secretary Ralph G. Recto has slammed a newly filed complaint against him as a "nuisance and a harassment case," citing Supreme Court opinions that cleared him of any criminal liability for transferring PhilHealth funds in accordance with the 2024 budget law.

In a statement issued on May 25, 2026, Recto said the case "should not be tossed aside gently" but "should be thrown out with great force."

He stressed that the transfer was mandated by law under the General Appropriations Act of 2024, saying "Inutusan ng Kongreso ang Department of Finance Secretary." (Congress ordered the Department of Finance Secretary.)

Recto cited several Supreme Court justices who, in their separate opinions, found that he could not be held criminally liable for implementing the law.

Associate Justice Raul B. Villanueva said, "To hold Secretary Recto liable in any way whatsoever is like punishing him for simply doing his job. If he did not comply with the valid dictates of Special Provision 1 (d), then he may possibly become culpable of violating the law, which would have made his situation even worse."

Associate Justice Ricardo R. Rosario opined that "no liability for technical malversation may attach," noting that officials "carried out the statutory commands in good faith, pursuant to a law then presumed valid, and without any intention to divert funds contrary to legislative will."

Associate Justice Rodil V. Zalameda added that the DOF Secretary's actions were "strictly ministerial" and were executed pursuant to the "explicit and mandatory language" of the provision of the 2024 GAA, characterized by "institutional good faith and due diligence."

Associate Justice Samuel H. Gaerlan said that "Secretary Recto was only fulfilling his legal duty in issuing DOF Circular No. 003 2024."

Associate Justice Jhosep Y. Lopez, for his part, opined that petitioners "failed to substantiate their claim that the acts of the Secretary of Finance constitute plunder and/or technical malversation," adding that "there was no allegation, much less proof, that the funds were personally amassed or acquired by the Secretary of Finance or any of the public respondents."

The Supreme Court, in its press release dated December 5, 2025, also noted that "no criminal liability can attach to the Finance Secretary, who they found to have acted in good faith in implementing Special Provision 1(d)."

Recto further reported that PHP 60 billion has already been returned to PhilHealth's coffers.

The Executive Secretary described the complaint as a harassment case filed by "a person masquerading as a health reformer, a perennial applicant for Health offices across several presidencies, but always rejected despite his aggressive self-promotion." He alleged that the complainant is "auditioning for a post in the next administration, using a platform of lies."

Recto called the claim that he financially benefited from the PhilHealth funds "an outright falsehood" and "libelous." He maintained that he "was not and never in a position to have been able to touch a single centavo" of the funds, and rejected the accusation of self-enrichment as having "no iota of truth."

He ended his statement by raising the question of "who is financing this case, in a bid to divert the public attention to the scam that that mastermind had perpetrated."

Pag-IBIG Fund reported year-on-year growth in its net income for the first quarter of 2026, further strengthening its capacity to protect members’ savings, provide affordable home financing, and support more Filipino workers in their journey toward homeownership, top officials announced on May 19, 2026.

From January to March, Pag-IBIG Fund’s net income grew by 11% or ₱1.700 billion to reach ₱16.772 billion, compared to the same period last year. Officials attributed the growth to strong collections and steady earnings from Pag-IBIG Fund’s housing loan, short-term loan, and investment portfolios. Higher investment returns also contributed to the income growth, with Pag-IBIG Fund’s income from investments reaching ₱3.033 billion, increasing by 51% year-on-year from ₱2.013 billion in the same period last year.

Department of Human Settlements and Urban Development Secretary Jose Ramon P. Aliling, who also chairs the 11-member Pag-IBIG Fund Board of Trustees, said Pag-IBIG Fund’s strong fiscal position enables it to serve as the primary source of financing for the Expanded Pambansang Pabahay para sa Pilipino, or Expanded 4PH Program of President Ferdinand R. Marcos Jr., heeding the President’s call to make decent and affordable housing more accessible to Filipino workers.

“This performance shows that Pag-IBIG Fund remains strong, stable, and ready to support President Marcos’ directive to open more opportunities for Filipino families to own decent and affordable homes. As the key financing arm of the Expanded 4PH Program, Pag-IBIG Fund plays a vital role in turning the national housing agenda into real homes for our workers. We shall continue to manage our members’ funds prudently, so that more Filipino families may benefit from housing finance that is affordable, accessible, and sustainable,” Aliling said.

Pag-IBIG Fund’s total assets also stood at ₱1.276 trillion as of March 2026, reflecting a 3% or ₱41.735 billion increase from ₱1.234 trillion recorded at year-end 2025. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta said the agency’s strong asset base and fiscal standing allow it to continue providing members with competitive savings returns and affordable home financing.

Acosta further stated that Pag-IBIG Fund’s performance directly benefits its members. Under its charter, Pag-IBIG Fund returns at least 70% of its annual net income to members in the form of dividends, which are credited to their savings every year.

“Pag-IBIG Fund is owned by its members, the Filipino workers. That is why we remain committed to growing and protecting their savings while ensuring that they have access to affordable home financing,” Acosta said. 

“Our strong fiscal standing allows us to sustain our subsidized housing loan rates under the Expanded 4PH Program, including the 3% rate for qualified socialized housing borrowers. This is how we help make homeownership more affordable for more Filipino workers, while keeping Pag-IBIG Fund financially sound and sustainable for the long term,” she added.

The Bureau of Immigration (BI) has clarified that there is no record yet showing that Senator Ronald "Bato" Dela Rosa has left the Philippines, following reports that the senator is in New York.

An Immigration Lookout Bulletin was earlier issued against Senator Dela Rosa; however, he has not been prohibited from leaving the country.

On May 21, the Department of Justice ordered the arrest of Senator Dela Rosa after the Supreme Court did not issue a Temporary Restraining Order (TRO) on the International Criminal Court (ICC) warrant against the lawmaker.

The Supreme Court's opinion on its dismissal of the TRO request filed by the camp of Senator Dela Rosa against the service of the ICC warrant of arrest is expected to be released today, May 25.

In a statement, Supreme Court spokesperson Atty. Camille Ting emphasized that, as of present, the court has yet to issue a decision on the senator's main petition, as previously mentioned last week.

The court also clarified the statement of Senior Associate Justice Marvic Leonen, saying his remarks were "taken out of context."

The said statement was made by Justice Leonen during a meeting with the Integrated Bar of the Philippines and Mindanao State University in Marawi on May 23, 2026.

Meanwhile, PNP Chief PGen. Jose Melencio C. Nartatez, Jr. called on Senator Dela Rosa to respect the badge, uniform, and institution he previously served, to ensure a peaceful resolution amid the ongoing operation to locate the senator.

According to the chief of the national police, the PNP remains focused on calm and professional steps in efforts to find the senator.

In an official statement, Gen. Nartatez emphasized that the police continue to hold deep respect for Dela Rosa due to his years of service as a former chief of the PNP.

Some officials had earlier said the senator should be treated as "maaaring armado at mapanganib" (possibly armed and dangerous) due to his experience in law enforcement and his access to firearms.

However, the PNP insisted that all actions in the operation must remain within the set operational protocols and human rights standards.

Gen. Nartatez also directed regional and local police units to exercise the highest level of restraint and to avoid unnecessary tension should officers encounter the senator.

The chief of the PNP reiterated that authorities continue to hope that the matter will be resolved peacefully.