DBM PRESS RELEASE
20 March 2023
The Department of Budget and Management (DBM) welcomes the sponsorship by the Senate Committee on Banks, Financial Institutions, and Currencies chaired by Senator Mark Villar of Senate Bill No. 2020 establishing the Maharlika Investment Fund (MIF) Act.
“We commend Senator Villar on his sponsorship of Senate Bill No. 2020. This is a testament to his clear vision for economic growth for the country,” DBM Secretary Amenah F. Pangandaman said.
As a tried and tested investment vehicle across the globe, the DBM maintains its strong support for the passage of the MIF Act as it will greatly aid the country in increasing its fiscal space, catalyzing economic growth, and ultimately, achieving the goals outlined in the Medium-Term Fiscal Framework, the 8-Point Socioeconomic Agenda, and the Philippine Development Plan 2023 to 2028. More importantly, present and future generations will reap these benefits afforded by the MIF Act.
With this development, the DBM, through the able leadership of Secretary Pangandaman, committed to continue to offer technical assistance to legislators to ensure the integrity of the Fund, while upholding the rule of law and respecting the process of legislation.
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