Public Financial Management Assessment in the Philippines
- Jul 2018
- Asian Development Bank (ADB)
- International
This document gives us an overview of public financial management in Philippines in the last decade. It outlines the country's achievements in context of macro-economic performance, global competitiveness, harmonizing of Philippine Public Sector Standards of Accounting and anti-corruption, among others. Under the Philippine Development Plan (PDP) 2017-22, the ongoing efforts shall be continued. One of the greatest challenges the country needs to address is that despite high economic growth rates, the reduction in poverty has been slow in the Philippines. Some PFM reforms that can improve the effectiveness of government efforts include strengthening the institutional framework in the country, improving planning, capacity in procurement, local government implementation capability etc.
