DBM Press Release
The Department of Budget and Management (DBM), through its Budget Policy and Strategy Group, successfully conducted the 2025 Fiscal Policy Conference on October 27, 2025, at the University of the Philippines (UP) College of Law in Diliman Quezon City.
Esteemed members of the academia, the government, and development sector discussed and explored strategies that can help shape sound fiscal management to strengthen public trust in the government.
Transparency and good governance against corruption
Professor Solita Monsod, Professor Emeritus from the UP School of Economics, lectured on how corruption impedes the country’s economic growth and downgrades the supposed gains from capital investments.
During the panel discussion moderated by DBM Undersecretary Margaux Salcedo, Professor Monsod recommended that clear and strict rules on the use of public funds be complemented with an improved monitoring and evaluation (M&E) system for enhanced accountability. Undersecretary Salcedo, in response, highlighted that the DBM has launched Project DIME (Digital Imaging for Monitoring and Evaluation) which will be used to monitor all projects listed in the General Appropriations Act, and will continue to study how to strengthen government M&E systems.
Dr. Jesus Estanislao, Professor Emeritus of the University of Asia and the Pacific (UA&P), also cited that the national budget can be a tool for transformative change if guided by a vision that prioritizes long-term development.
The panelists likewise mentioned leadership as a determining factor in ensuring fiscal integrity. According to Dr. Estanislao, the Philippines needs visionary leadership to enforce discipline in our fiscal management and deliver long-term results that will benefit all Filipinos.
Tools for transformative change
From the development sector’s perspective, Atty. Jose Luis Syquia, Principal Public Sector Specialist of the Asian Development Bank (ADB), noted that ensuring a holistic approach to improving one’s public financial management (PFM) system is more effective, ensuring that no areas of governance are left behind. He also noted the value of digital transformation as another tool that can be maximized to enhance transparency.
Atty. Syquia highlighted the benefits of evaluating the country’s PFM system, similar to the recently conducted Philippine Public Expenditure and Financial Accountability (PEFA) Assessment Reports, led by the DBM as the PFM Chairperson in partnership with the ADB, as helpful and holistic approaches to ensuring sound fiscal management.
Meanwhile, emphasizing the role of good governance in fiscal management, Dr. Alex Brillantes, Professor Emeritus of UP National College of Public Administration and Governance, noted that corruption, fueled by a lack of accountability, is a key constraint that prevents the country from advancing globally. For Dr. Brillantes, "for reforms to be successful and meaningful, there have to be changes in structures and institutions, and change in mindsets. This should be enabled by good leadership and citizen engagement."
Holistic reforms for sound fiscal management
DBM Secretary and the Development Budget Coordination Committee (DBCC) Chairperson Amenah F. Pangandaman concluded the Conference with a pre-recorded keynote message where she shared various fiscal reforms being implemented to ensure transparency, strengthen fiscal management, and maintain the country’s competitiveness.
“Despite economic headwinds and sociopolitical volatility, the Philippine economy remains resilient, with manageable inflation and robust employment. And I am positive that we will maintain our status as one of the Asia Pacific’s fastest-growing economies with the continued implementation of various fiscal reforms and policies aimed at ensuring transparency, accountability, and citizens’ participation in governance—the very theme of this conference,” the Budget Chief said.
With the theme “Strengthening Fiscal Integrity through Transparent Governance,” this year’s Fiscal Policy Conference also featured breakout sessions featuring presentations and panel discussions from researchers whose abstracts broadened the discussion on the following areas: social welfare and human capital, fiscal reforms, digitalization and process innovations, disaster risk management, sustainable development and finance, and fiscal stability and sustainability.
END
