DBM, World Bank hold FAPs orientation for NGAs
The two-day activity consisted of knowledge-sharing sessions among FAPs oversight agencies, including the DBM, Office of the President (OP), Department of Finance (DOF), National Economic and Development Authority (NEDA), Bangko Sentral ng Pilipinas (BSP), and Commission on Audit (COA).
The program aimed to foster alignment and serve as leverage for the future streamlining of policies and processes among the concerned agencies.
In her keynote message, DBM Secretary Amenah F. Pangandaman highlighted the World Bank’s forecast that the Philippines will reach above middle-income status within two years. The Philippines' projected real Gross Domestic Product for 2023 also ranks highest in the ASEAN region, according to the latest World Economic Outlook of the International Monetary Fund.
The budget secretary also noted that the S&P Global Market Intelligence has projected the country is on track to become a one trillion-dollar economy by 2033.
“It is incumbent upon us to ensure that these projections are realized, even exceeded,” Secretary Pangandaman said.
She stressed the importance of deepening the agencies’ understanding of partnerships regarding FAPs.
“Given that it is an important component of our country’s development, it is our responsibility to ensure we are well-informed of its intricacies, that we are familiar with the steps involved in project implementation and monitoring, that we are able to craft a report regarding the project,” Pangandaman said.
The activity also provided a learning platform, particularly for new personnel, on the process of approval and implementation of FAPs in the Philippine government.
The orientation program was likewise an avenue for implementing agencies to share their experiences and clarify issues or concerns in the implementation of their respective FAPs.
“On our end at DBM, rest assured we are always ready and committed to ensuring a stronger and smoother implementation of FAPs in the government,” the secretary said. (DBM/PIA Caraga)
