Mandaluyong city: The Department of Budget and Management (DBM) on Thursday launched the updated roadmap aimed at refining the government's fiscal reform agenda to promote transparency, accountability, and prudent use of public funds. The Public Financial Management (PFM) Roadmap 2024-2028 Midterm Update and its detailed reform action plan were launched during the Philippine PFM Forum at the Asian Development Bank (ADB) headquarters in Mandaluyong City.
According to Philippines News Agency, DBM Acting Secretary Kim Robert de Leon said the updated roadmap is designed to strengthen discipline, integrity, and performance in managing public resources. 'PFM is not about managing money. PFM is about improving lives. Every reform must translate into faster services, better outcomes, and greater opportunities for every Filipino. Because every peso in government carries a human story behind it,' De Leon, also acting as chairperson of the PFM Committee, said.
De Leon said the updated PFM blueprint aims to ensure that reforms are measured not by technical indicators but by improved public services and greater public trust. He also emphasized the importance of sustained collaboration among government agencies, oversight institutions, development partners, and civil society to deliver faster and more responsive services. 'DBM is not a place for slowpokes. And that mindset applies equally to our reform agenda. The Filipino people cannot afford slow reforms, delayed services, and wasted opportunities. The time to act is now,' he said.
The Midterm Update streamlines the original 41 reform interventions into 18 priority measures, accelerating implementation and maximizing system-wide impact. The DBM described 14 of the priority measures as 'mission-critical reforms' and the remaining four as 'quick wins.' It noted that the 23 other previous interventions will still be pursued based on institutional readiness, available resources, and support from development partners.
The updated roadmap is anchored on the 2025 PEFA++ Assessment, the country's most comprehensive review of public financial management systems. The assessment cited improvements in budget reliability, transparency, cash forecasting, internal controls, and audit coverage, while identifying persistent challenges. Several challenges that have been identified include fragmented information systems; continued reliance on manual processes; weak planning, budgeting, execution, and reporting; procurement complaints mechanisms; legislative scrutiny of audit findings; data integration; and mainstreaming of climate-, gender-, and disaster-responsive budgeting. These findings informed the recalibration and prioritization of the reform agenda.
Under Executive Order (EO) 29 issued in 2023, the PFM Committee, composed of the DBM, Department of Finance, Bureau of Treasury, and Commission on Audit, is tasked with developing a PFM Reforms Roadmap to streamline financial management systems to improve the overall delivery of public services. During the event, ADB President Masato Kanda emphasized the importance of sound public financial management in promoting good governance and preventing corruption. 'PFM is the foundation for effective governance. It is also a frontline defense against corruption. The ADB maintains a zero-tolerance approach to corruption,' he said, expressing ADB's support for the Philippines' reform agenda through technical assistance and knowledge support.
World Bank Global Director for Governance Arturo Herrera Guti©rrez said the reforms reinforce the social contract between government and citizens by ensuring that taxes translate into quality public services. He also reaffirmed the World Bank's commitment to support the Philippines throughout its reform journey. 'The taxes Filipinos are willing to pay, and the services they expect to receive from government reflect the social contract of a country. Ultimately, it is about the well-being of citizens,' Guti©rrez said.
Executive Secretary Ralph Recto said the effective implementation of the priority measures is key to the success of the updated roadmap. 'A slow disbursement system becomes a second preventable emergency, making an already difficult situation worse than it should be. This is the real weight that this roadmap carries into this room,' Recto said in a statement delivered by Senior Deputy Executive Secretary, lawyer Maria Luwalhati Dorotan-Tiuseco.
