MANILA, Philippines — President Ferdinand Marcos Jr. on Tuesday reaffirmed his administration’s commitment to transparent and transformative leadership as he led the Ceremonial Endorsement of the Public Financial Management (PFM) Reforms Roadmap 2024-2028 in Malacañang.
In his speech, Marcos noted that the PFM roadmap gives”a clear mandate” of ensuring that public funds entrusted to the government “serves a purpose that truly matters, that will make a difference.”
It is also a reassertion of the government’s collective resolve to build a system that will serve the present and future generations.
“It is about swift, efficient disaster relief and response actions so that no community is left behind when disasters strike. It is about better public healthcare access, ensuring that medical costs do not become yet another burden for our citizens. It is about expanding social services, creating not just a safety net, but opportunities for every Filipino to succeed, no matter their circumstances may be,” the chief executive said.
The Roadmap outlines strategies for the implementation of interventions and activities regarding the improvement of the government’s ability to transparently and efficiently allocate resources, enabling agencies to deliver services effectively.
Under the initiative, robust resource management coordination, greater capacity building, wider technological integration, and stricter financial program implementation across sectors are expected.
Among the priorities of the new PFM is to synchronize planning and budgeting at local, regional, and national levels, as well as streamline institutional frameworks to reduce the time spent on bureaucratic processes, resulting in a faster delivery of service.
Digitalization and modernization of government frameworks are also given importance in the said roadmap.
Through collaborative efforts and support from partners, Marcos expressed confidence that the PFM Reforms Roadmap will greatly contribute to the country’s significant developments.
“With the strong support of our partners, especially with the ADB (Asian Development Bank), I am confident that the PFM Reforms Roadmap—anchored on the Philippine Development Plan 2023-2028—will lead the nation to a higher growth trajectory, and ultimately, to reducing poverty and achieving genuine prosperity. Consider yourselves as the forerunners of this new era, this Bagong Pilipinas that we are building,” he said.
Crafted through Executive Order 29 in June 2023, the PFM Reform Roadmap also created the PFM Committee tasked to strengthen the public financial management information systems of the government and streamline its processes.
This includes the revisiting of policies, revising outdated frameworks, and the creation of a strategic roadmap that reflects the changing needs of the people.
The PFM committee is comprised of the Department of Budget and Management (DBM), alongside key representatives of the Commission on Audit (COA), Bureau of the Treasury (BTr), Department of Finance (DOF), Department of Information and Communications Technology (DICT), and the National Economic and Development Authority (NEDA).
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