The Public Financial Management Committee (PFMC), comprised of principals from the Department of Budget and Management (DBM), the Department of Finance (DOF), and the Commission on Audit (COA), has made significant strides toward achieving the Marcos Jr. administration’s socioeconomic goals of bureaucratic efficiency and sound fiscal management.

During the PFMC meeting held today, 19 December 2022, Budget Secretary Amenah F. Pangandaman reiterated the DBM’s continued thrust in using digital technology to pursue Public Financial Management Reform agenda, as well as the milestones reached by the Committee.

“I am happy to share that just yesterday, the Public Financial Management Committee comprised of the DBM, the DOF, and COA, approved the adoption of the IFMIS (Integrated Financial Management Information Systems), drafted an Executive Order in line with the implementation of the IFMIS, and adopted the Administration’s Draft of the proposed Progressive Budgeting for Better and Modernized (PBBM) Governance Act,” Secretary Pangandaman said.

The Budget Secretary noted that the x.

“With the transition to the full adoption of IFMIS, we hope to secure the digital transformation objectives in our 8-Point Socioeconomic Agenda and achieve not only transparency and accountability, but also bureaucratic efficiency, sustainability and, ultimately, economic growth through proper use of technology,” the Budget Secretary explained.

Lastly, the PFM Committee also adopted the Administration’s Draft of the proposed PBBM Governance Act. The initiative seeks to institutionalize PFM principles for best practices in cash budgeting.

“All these will move us closer to our socioeconomic goals of bureaucratic efficiency and sound fiscal management,” Secretary Pangandaman said.

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