News Release

Budget chief backs Marcos’ bid for prudent fiscal management

CALOOCAN CITY, (PIA) — Department of Budget and Management (DBM) Secretary Amenah Pangandaman on Monday expressed support on the campaign of President Ferdinand R. Marcos Jr. towards achieving prudent fiscal management and bureaucratic efficiency, as outlined in his first State of the Nation Address (SONA).

“We, at the Department of Budget and Management, are one with the President and vow to contribute to the pursuit of economic prosperity where no one is left behind,” the Budget chief said.

According to Pangandaman, the DBM will facilitate the implementation of reforms to reverse the pandemic’s adverse effects, sustain current economic gains, and restore the country’s development trajectory.

“We shall maximize our limited fiscal space and commit to prioritizing food sufficiency, infrastructure, and climate change goals. And we will do so with complete integrity, competence, and diligence,” Pangandaman said.

During the SONA, the Chief Executive underscored the need to institute government programs to achieve sound fiscal management, in order to swiftly address the effects of the pandemic to the economy.

“In terms of the economy we will implement a sound fiscal management. Tax administration reforms will be in place to increase revenue collection. Expenditure priorities will be realigned and spending efficiency will be improved to immediately address the economic scarring arising from the effects of the COVID-19 and also to prepare for future shocks,” President Ferdinand R. Marcos Jr. said.

“The Medium-Term Fiscal Strategy of this Administration seeks to attain short-term macro-fiscal stability while remaining supportive of the country’s economic recovery and aims to promote medium-term fiscal sustainability. Furthermore and more importantly, fiscal policy aims to bring together the national government’s resources so that these are mobilized and utilized in order to gain the maximum benefit and the higher multiplier effect on our economy,” Marcos added.

For her part, Pangandaman expressed confidence on the leadership of Marcos to steer a course of stability and progress for the economy.

“The economy is in good hands with our President,” Pangandaman said.

“The MTFF (medium-term fiscal framework) is our response to the socio-economic needs of our people today for competitiveness, inclusivity and sustainability so we are grateful that President Marcos is 100% attuned to this economic transformation agenda of the economic managers,” the Secretary added.

Pangandaman likewise expressed her gratitude to Congress for the support the bicameral legislature has given to the 2022-2028 MTFF.

“With Congress’s support for the MTFF, efforts will be harmonized which will facilitate prompt formulation and adoption of policies and reforms that will help the country back on the path to rapid economic growth,” the Budget chief said. (PIA-NCR)