The Public Financial Management (PFM) Committee, composed of different government agencies, on Tuesday presented a four-year roadmap to President Ferdinand Marcos Jr. to modernize the government’s financial management.
The PFM Reforms Roadmap 2024-2028 promises to transform how public funds are managed, ensuring greater accountability, efficiency and transparency in the allocation and use of resources across government agencies.
The committee is comprised the Department of Budget and Management (DBM), alongside key representatives of the Commission on Audit, Bureau of Treasury, Department of Finance, Department of Information and Communications Technology and the National Economic and Development Authority.
With the theme “Propelling Transformation: Achieving Prosperity,” the roadmap serves as a blueprint for modernizing fiscal governance to meet the evolving needs of the nation. Developed under Executive Order No. 29, issued on June 1, 2023, the roadmap brings together initiatives designed to foster coordinated collaboration across all levels of government.
“This reflects the unified vision of the administration of President Ferdinand R. Marcos Jr. to transform and elevate public financial management to better serve the Filipino people,” Budget Secretary Amenah Pangandaman said.
“We are not just improving processes, but driving a profound transformation in how we manage public resources to ensure better service delivery and national development,” she said.
The PFM Reforms Roadmap 2024-2028 addresses 11 strategic focus areas that cover all aspects of public financial management such as planning and budgeting linkage, cash management, public asset management, accounting and auditing, PFM capacity development, digital PFM, PFM policy and legal framework, public procurement, disaster risk reduction and management (DRRM), PFM for local government units (LGUs) and monitoring and evaluation for public expenditure.
