DBM Secretary Urges Swift Passage of Budget Modernization Bill to Enhance Fiscal Management

Manila-Department of Budget and Management (DBM) Secretary Amenah Pangandaman is advocating for the expedited passage of the Progressive Budgeting for Better and Modernized (PBBM) Governance Bill, emphasizing its crucial role in modernizing fiscal practices in the Philippines. The bill, currently pending in Congress, is designed to introduce significant reforms that could reshape budgetary processes and enhance governance.

According to Philippines News agency, ongoing coordination with the legislature aims to fast-track the bill, which as of August 8, 2024, includes 12 House bills and two Senate bills—Senate Bill 2045 and 1020—both under review by the Committee on Finance. The PBBM Governance Bill seeks to institutionalize the Cash Budgeting System to promote fiscal discipline and includes measures to implement key Public Financial Management (PFM) reforms such as the Treasury Single Account and the Integrated Financial Management Information System. Pangandaman highlighted that the bill also aims to set limits on unprogrammed appropriations and enhance citizen involvement in the budget process. This push comes amidst calls from Senate Minority Leader Aquilino Pimentel III for heightened fiscal discipline among lawmakers during budget deliberations for the proposed PHP6.352-trillion 2025 budget. Pangandaman remains optimistic about Congress’s prudence in assessing the National Expenditure Program, which will underpin the Genera
l Appropriations Bill for 2025.