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“It is welcome news for us that the IMF has favorably affirmed the performance and growth outlook of the Philippine economy,” said DBM Secretary Benjamin Diokno. “Rest assured that the Department of Budget and Management remains steadfast in its commitment to promote rapid and equitable growth in line with the Duterte Administration’s development objectives,” the Budget Secretary added. “I note that the IMF has recognized the structural reforms that we have introduced such as the Tax Reform Program, the National Government Rightsizing Program and the Budget Reform Bill. They will improve the functioning of the public sector and boost the Philippine economy’s growth trajectory,” said Secretary Diokno. The National Government Rightsizing Program aims to enhance government’s capacity and streamline the functions of the bureaucracy for more efficient public service delivery. Meanwhile, the Budget Reform Bill will institutionalize the reforms that have been made so far in the budget process while mandating the disciplined execution of the National Budget with the shift to a 1-year cash budgeting. For the end-of-mission press release of the International Monetary Fund on the Philippine economy, visit: http://www.imf.org/en/News/Articles/2017/08/08/pr17321-philippines-imf-staff-completes-2017-article-iv-mission For more information on the Department of Budget and Management, click: www.dbm.gov.ph.
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