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Thumbnail On June 14, DBM hosted a forum on the Budget Reform Program (BRP) for over fifteen International development agencies at Bayleaf Hotel, Intramuros. The forum aimed to inform GOP Development partners of the process and transition for the Budget Reform Program and to further highlight the impact of the annual cash based appropriations system. DBM Secretary Diokno gave the opening message emphasizing the importance of supporting and passing the bill, “We believe that this Bill is necessary in our pursuit of tangible and inclusive development, especially with the help of multilateral organizations that share the same goals.” The BRP introduces a shift from the 2-year obligation based to a 1-year cash based system, with the objective of streamlining the budgeting process, promoting greater transparency, accountability, and improving the country’s Public Financial Management (PFM) System. A major portion of the forum was dedicated to highlighting the implications of the Budget Reform Program towards Foreign Assisted Projects (FAPs). According to the DBM, development partners can help the government by “ [setting] turn-around-times for the processing of necessary issuances related to the...
Thumbnail DBM Secretary Benjamin Diokno talks with media during Kapihan sa Manila Hotel on June 11, 2018. Budget Secretary Benjamin Diokno assured the public today that TRAIN 2 or the second package of the government’s tax reform program will be revenue-neutral.   Under the tax reform package, corporate income tax will be reduced to 25% from the current 30% to make it competitive with the tax rates of other ASEAN countries.  Some fiscal incentives, however, under the present tax scheme will be reviewed. But Secretary Diokno reiterated at the Kapihan sa Manila Hotel media forum this morning that there is nothing to fear because the scheme is revenue-neutral.   “Walang makakabig na additional revenue as a result of the reform (the tax reform package is revenue neutral),” Secretary Diokno said.  Secretary Diokno stressed that some incentives need to be reviewed as they are redundant while others are not necessary.  “Fiscal incentives won’t be totally taken out,” Secretary Diokno emphasized. “We just want to make sure that they will be performance-based and necessary,” he added.  The budget secretary is also confident that investments will continue to come even if some incentives are dissolved.   “We...
Thumbnail We, the economic managers of the Duterte Administration, reiterate the government’s unwavering commitment to improve the lives of the Filipino people and bring lasting change to our country. The administration is steadfast in the conviction that we can build a prosperous, high-income economy with a predominantly middle-class society by 2040. Toward this objective, our economic program must generate the required resources so that we can continue to make investments in our people’s health and education, security and public order, and to build world-class infrastructure.   Staying the course will not always be easy, but we owe it to our people, our children, and future generations. We know that we are going through a challenging period. The government is closely monitoring and taking steps to address the difficulties experienced by Filipino families today arising from higher prices. According to the Philippine Statistics Authority, the inflation rate for May 2018 was 4.6 percent. This was driven primarily by higher rice, corn, fish, tobacco, and personal transport prices, the latter largely driven by rising world crude oil prices.   The increase in the international oil prices beyond...
Thumbnail Over 600,000 jobs were created as of April 2018 as a result of the government’s Build, Build, Build program, according to Undersecretary Rosemarie Edillon of NEDA.    Number of employed persons increased by 2 percentage points to 1.6% or 40.9 Million jobs from -1.27% or 40.27 Million jobs the previous year. According to the latest round of the labor force survey of the National Economic Development Authority (NEDA), 625,000 more Filipinos were employed as of April 2018.    Of this number, 605,000 came from industry, including manufacturing and construction. From industry, 468,000 jobs were generated from construction, as an effect of the government’s Build, Build, Build program.   Build, Build, Build was the biggest contributor to employment. Build, Build, Build is the government’s flagship program made possible through the Budget Department’s aggressive infrastructure spending policy using funds generated through various programs including the tax reform program TRAIN.    Government spending on infrastructure grew a staggering 96% or nearly double from P33.5 Billion in April 2017 to 65.6 Billion in 2018. This is in line with the present administration’s budget policy to increase spending...
Thumbnail Inflation rates slowed down in May 2018 to 0.2% dropping from 0.7% in March.   The National Economic & Development Authority (NEDA) announced this today at a joint forum with the Department of Budget & Management (DBM) and Department of Finance(DOF). 

 While overall inflation increased from May 2017 to 4.6%, the month-on-month inflation rate dropped from 0.7% in March to 0.3% in April, hitting a low of 0.2% in May.    “We expect this to further taper in the second half of the year,” Budget Sec. Benjamin Diokno said. 

 The decrease in the price of world crude oil and the increase in buffer stocks of NFA rice are factors that may contribute to further decreases in the inflation rate.      

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Thumbnail  DPWH Secretary Mark Villar and DBM Secretary Benjamin Diokno inspect CAVITEX with representatives from MPTC and DPWH.            In a meeting with Budget Secretary Benjamin Diokno and Public Works Secretary Mark Villaron June 1, 2018, the Metro Pacific Tollways Corporation (MPTC) provided updates on major infrastructure projects covering south of Luzon. The project summary includes the C-5 South Link Expressway Project, the Cavite Expressway (CAVITEX) Segment 1 Enhancement Projects, and the Cavite-Laguna Expressway Project.   The C-5 South Link Expressway Project, which costs PhP 13.6 Billion, is expected to be completed by the second quarter of 2019 for Segment 3A I. Other segments of the expressway will be completed within the year 2020.   The C-5 South Link will provide an expressway connection between R-1 Expressway to C-5 Road. This is seen to reduce travel time and induce a higher development impact to Southern Luzon.   The MPTC has also laid out enhancement projects amounting to PhP 807 Million for CAVITEX Segment 1. These enhancements include the Marina Left Turning Facility and R-1 Widening, which will be completed by third quarter of 2018, and the Pacific Drive Upgrading and R-1 Bridge...
Thumbnail Participatory Governance Cluster (PGC) members, led by the Cluster Co-Chair and DBM Secretary Benjamin Diokno turns over the PGC Roadmap to OCS Assistant Secretary and Chief-of-Staff Evelyn Cruzada.   The Participatory Governance Cluster Performance and Projects Roadmap (PGC-PPR) 2017-2022 was approved and adopted today during the 3rd Official Meeting of the PGC held at the Department of Budget and Management.   The six-year Roadmap outlines the priority initiatives of the Duterte Administration that are aimed at making sure that citizens are consulted and engaged in governmental processes across all levels of the bureaucracy. It is a product of a 7-month long rigorous crafting process through collaborative workshops attended by more than 2,000 stakeholders from a multitude of sectors -- business, civil society organizations, basic sectors -- in different areas across the country.   PGC Chairperson, DBM Secretary Benjamin E. Diokno led the meeting into a discussion of the 2017-2022 PGC Performance and Projects Roadmap, which was updated after the recently-concluded Philippines Open Government and Participatory Governance Regional Dialogues series held in the cities of Bacolod, General...

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