The DBCC is an inter-agency body chaired by the DBM, with the Department of Finance (DOF), the National Economic and Development Authority (NEDA), and the Office of the President as members. It is responsible for reviewing and approving the national government’s macroeconomic assumptions and fiscal program. The Bangko Sentral ng Pilipinas (BSP) also serves as the committee's resource institution.

 

Titled “50 Years in Harmony: A Historical Review of the Development Budget Coordination Committee,” the legacy book is a compilation of articles containing a historical analysis of five decades of policies, programs, and reforms introduced by the DBCC as it performed its essential role of harmonizing budgetary goals and objectives toward achieving the nation's vision of prosperity.

 

President Ferdinand R. Marcos Jr., in his foreword to the book, lauded the DBCC: “The great efforts exerted by the DBCC, led by our economic luminaries who have been appointed to serve the nation at different points in our history, have no doubt been invaluable in pursuing growth, steering the economy out of many crises, and securing fiscal stability under various administrations.”

 

In her welcome message, Secretary Pangandaman shared how the launch of the book “has brought together the country’s brightest minds and greatest economic managers” throughout the years, including the very first Budget Minister, Dr. Jaime Laya.

 

“We also have representatives from the three branches of the government—the Executive, Legislature, and Judiciary, with no less than the Chief Justice of the Supreme Court, Chief Justice Alexander Gesmundo—with us this evening, depicting how managing the economy is truly a whole-of-government affair,” the Budget Chief and DBCC Chair said.

 

Authors of the articles in the legacy book include DBCC Chair and DBM Secretary Pangandaman; NEDA Secretary Arsenio M. Balisacan; BSP Governor Eli M. Remolona Jr.; BSP Monetary Board Member (MBM) and former DOF and former DBM Secretary Benjamin E. Diokno; BSP MBM and former National Treasurer Rosalia V. De Leon; BSP Managing Director and former DOF Undersecretary Zeno Ronald R. Abenoja; DBM Undersecretary Margaux V. Salcedo who is also the lead editor of the book; and DBM Principal Economist Joselito R. Basilio. It also includes articles from Chief Justice Gesmundo; the first Minister of the Budget, Dr. Laya; and former Senator Alberto G. Romulo, who was also former Minister of Budget and Management.

 

In addition to the authors, also present at the launch were DOF Secretary Ralph G. Recto; Special Assistant to the President for Investment and Economic Affairs Secretary Frederick D. Go; BSP Deputy Governor Francisco G. Dakila Jr.; Undersecretary Leonardo Cervantes on behalf of Executive Secretary Lucas P. Bersamin; House Committee on Appropriations Vice Chairperson Hon. Stella Luz A. Quimbo; Civil Service Commission Chairperson Karlo Nograles; and Tourism Promotions Board Chief Operating Officer Marga Nograles.

 

Also present were members of the diplomatic corps, including Malaysian Ambassador to the Philippines, His Excellency Dato' Abdul Malik Melvin Castelino and Deputy Chief Khalid Al Harthi representing His Excellency Abdullah Al Hassan; development partners including JICA Philippines Chief Representative Mr. Sakamoto Takema and USAID Deputy Director for Economic Development and Governance Mr. Eric Florimon-Reed; and other DBM, DOF, NEDA, and BSP officials and support staff, as well as members of the academe and the media.