Secretary Pangandaman: Innovate for a stronger fiscal future

Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman encouraged members of the government, the academe, and development organizations to adopt innovative and tailor-fit approaches to address the country’s needs and challenges during her keynote speech at the 2024 Fiscal Policy Conference, held on November 22 at the University of Asia and the Pacific (UA&P) in Pasig City.  

The Budget Chief, who is also the Development Budget Coordination Committee (DBCC) Chairperson, discussed the m acroeconomic gains from effective fiscal policies and highlighted that the country remains on track to achieve its economic targets. However, she also called on citizens to remain vigilant as to challenges that may hinder socioeconomic transformation.  

“We recognize that we must still constantly be on the lookout for innovative approaches tailor-fit to the country’s current needs—with the interest and welfare of the people as our top priority,” Secretary Pangandaman said.   

Structural Reforms  

The Budget Chief and DBCC Chairperson also highlighted the need for structural reforms to support the country’s sound fiscal management, including the Public Financial Management (PFM) Reforms Roadmap 2024-2028, the New Government Procurement Act (NGPA), and the preparation of catch-up plans to address underspending and expedite the delivery of services to the Filipino people. 

During the plenary session, Ateneo de Manila University (AdMU) Professor Dr. Cielito F. Habito likewise called for reforms, particularly in the education sector, to be complemented with enhancements in universal health care to address malnutrition in children. This, according to him, will be key to maximizing the “demographic sweet spot” in economic development that the Philippines is supposedly in.   

Whole-of-Society Approach  

Meanwhile, UA&P President Dr. Winston Conrad B. Padojinog emphasized that the government needs to build the trust of the Filipinos to encourage their participation towards an inclusive and equitable governance.  

Bangko Sentral ng Pilipinas (BSP) Monetary Board Member Dr. Benjamin E. Diokno likewise highlighted the need for a whole-of-government