PH Scores High in IMF Fiscal Transparency Report

Manila—(PHStocks)—With the country getting a favorable score in the International Monetary Fund’s Fiscal Transparency Evaluation (FTE), the Aquino Administration’s goal of instituting sustainable public financial management (PFM) reforms for greater transparency and accountability is expected to gain more ground. While the IMF also emphasized the need to close the remaining gaps in the Aquino administration’s strategy […]
Continue reading…

 

Bulk of 2015 Budget Release in 1Q

More than 81 percent of the 2015 national budget or a total of PhP2.126 trillion has been released as of the end of the first quarter, the latest Department of Budget and Management (DBM) data showed. Total disbursements as of the end of March included continuing appropriations under the 2014 general appropriations and the supplemental […]
Continue reading…

 

Agrarian Beneficiaries to Get PhP2.32B in Support

Manila—(PHStocks)—The Department of Budget and Management (DBM) has released PhP2.32 billion to the Department of Agrarian Reform (DAR) to fund the implementation of the Aquino administration’s support services for the agrarian beneficiaries. The PhP2.32 billion is the partial release allotted for the Program Beneficiaries Development (PBD), DAR’s support service delivery component. The fund will benefit […]
Continue reading…

 

DBM to Release 100% of Agency Allotments for the First Time

The Department of Budget and Management (DBM) has established new budget execution rules that make available 100% of 2011 agency allotments. According to Budget and Management Secretary Florencio B. Abad, having a Reform Budget necessitates budget execution reforms. “We have issued unprecedented rules that support the timely implementation of programs and projects, while ensuring transparency […]
Continue reading…

 

Moody’s Raises PH Outlook to Positive

Budget and Management Secretary Florencio B. Abad has expressed elation over the recent change in outlook by Moody’s Investor Service on the Government of the Philippines’ Ba3 foreign and local-currency bond ratings from stable to positive. “Our country is now benefiting from the impact of our reforms towards good public expenditure management. And through our continued […]
Continue reading…