The Department of Budget and Management (DBM) launched the Midterm Update of the Philippines’ Public Financial Management (PFM) Roadmap 2024–2028, sharpening the government’s fiscal reform agenda under President Ferdinand Marcos Jr. by prioritizing high-impact measures that strengthen transparency, accountability, and the efficient use of public funds.

The updated roadmap was unveiled during the Philippine Public Financial Management Forum at the Asian Development Bank headquarters in Mandaluyong City on June 25.

Acting Budget Secretary Kim Robert De Leon, chairperson of the Public Financial Management Committee, said the updated roadmap is designed to strengthen discipline, integrity, and performance in managing public resources.

“PFM is not about managing money. PFM is about improving lives. Every reform must translate into faster services, better outcomes, and greater opportunities for every Filipino. Because every peso in government carries a human story behind it,” De Leon said.

Executive Secretary Ralph Recto, through Senior Deputy Executive Secretary Maria Luwalhati Dorotan-Tiuseco, said the roadmap is more than a technical reform—it is a governance commitment that ensures government policies translate into timely services for the Filipino people.

Asian Development Bank President Masato Kanda underscored that sound public financial management is essential to good governance and preventing corruption.

“PFM is the foundation for effective governance. It is also a frontline defense against corruption. The ADB maintains a zero-tolerance approach to corruption.”

Kanda said ADB is proud to support the Philippines’ reform agenda through technical assistance and knowledge support.

World Bank Global Director for Governance Arturo Herrera Gutiérrez said the reforms reinforce the social contract between government and citizens by ensuring that taxes translate into quality public services.

“The taxes Filipinos are willing to pay and the services they expect to receive from government reflect the social contract of a country… Ultimately, it is about the wellbeing of citizens.”

He reaffirmed the World Bank’s commitment to support the Philippines throughout its reform journey. Department of Budget and Management