NextGen Day

The Department of Budget and Management (DBM) hosted a briefing session on the Progressive Budgeting for Better and Modernized (PBBM) Governance Bill on March 28, 2023, to improve its partnership with Congress in enacting the proposed legislation.

The purpose of the exercise was to debate and consider the Legislature’s questions and concerns regarding the DBM’s PBBM Governance Bill as it is being implemented.

One of the Marcos Jr. administration’s top legislative priorities is the Bill. This is consistent with the administration’s eight-point Socioeconomic Agenda, which names bureaucratic effectiveness as one of its primary components.

DBM Secretary Amenah F. Pangandaman emphasized in a message that the country’s budgeting process needed to be modernized and that it had been overdue ever since the last comprehensive public financial management (PFM) policy was adopted in 1987. The PFM will be modernized using the PBBM Governance Bill as the skeleton.

According to Pangandaman, “The Progressive Budgeting for Better and Modernized Governance Act is a landmark legislative measure that seeks to improve the government’s capacity to provide direct, immediate, and substantial services to the people, thereby strengthening public accountability and transparency.”

Once passed into law, it will bring about significant changes that affect the Budget Cycle. The budgeting system will be modernized, the PFM legal framework will be fixed, the institutionalization of important PFM reforms like the Treasury Single Account, Accounting and Auditing Reforms, and the Integrated Financial Management Information System will be ensured, and the Cash Budgeting System will be strengthened in its application.

Additionally, it must foster, encourage, and institutionalize public involvement in the budgetary process while sustaining principles of fiscal discipline throughout the bureaucracy.

All levels of government will be guided in the creation and implementation of the budget by Bill’s strong fundamental legal framework on PFM. To the extent specified, it will apply to the management of the finances, assets, and obligations of local and national government entities as well as corporations that are owned or controlled by the government.

According to Pangandaman, this will ultimately lead to the best possible use of the nation’s economic resources, improve the level of governance we offer, and ultimately guarantee a higher standard of living for all Filipinos.

The briefing featured presentations from DBM Chief Budget Management Specialist Mark James Evangelista, DBM Director for Fiscal Planning & Reforms Mary Joy de Leon, and DBM Undersecretary Wilford Will Wong. Joselito Basilio, DBM Undersecretary and Functional Group Head of the Budget Policy & Strategy Group, and Mary Joy de Leon also attended.

Let me emphasize the significance of this bill from Secretary Mina Pangandaman’s perspective. The purpose of this bill is to protect and strengthen the public financial management system, making it more resilient and adaptable to withstand changes in the environment and support the ongoing recovery and revitalization of our economy, according to Wong.

DBM Undersecretary Janet Abuel, DBM Undersecretary Maria Francesca del Rosario, and Acting Undersecretary Cristina Clasara were also present for the session.

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