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To our esteemed host, Financial Executives Institute of the Philippines (FINEX), led by President EJ A. Qua Hiansen; 

Distinguished leaders and members of the business community;  

A pleasant day to everyone.  

Assalamu alaikum wa Raḥmatullahi wa Barakatuh.  

Thank you for inviting me to be your guest speaker for your 3rd General Membership Meeting. It is truly an honor to stand before such a distinguished group of financial leaders who play a crucial role not just in shaping the economic landscape but also in promoting transparency, integrity, nationalism, professional excellence, and social responsiveness.  

On Women Leadership  

Before I begin, I would like to take a moment to celebrate the women leaders present here today. Happy Women’s Month! I hope our presence in this space can serve as a reminder that women, too, are integral to driving change and influencing the future of our nation’s economy.  

As Budget and Management Secretary—proudly the second woman to hold this position and the only female member of the Philippine Economic Team—leadership, for me, is more than just representation; it’s about ensuring that the policies and reforms we craft empower EVERYONE—all genders and all communities, especially the marginalized. As I said when I received the “Outstanding Filipina in the Field of Public Service” at the Gawad Pilipino Awards, “In a world where women’s efforts are often overlooked, this award affirms our vital role in driving progress—whether in government, business, education, healthcare, or at home.” 

On this note, I would like to extend my heartfelt congratulations to the remarkable women leaders in the private sector. I am particularly proud to acknowledge FINEX Executive Vice President Mharicar "Cai" C. Reyes, honored as the “Best Woman CEO in Human Resources” at the Women’s Tabloid Awards 2024.¹ Congratulations! Her visionary leadership not only earned her this distinction but also propelled Asticom Group of Companies to be named “Company of the Year” and “Fastest Growing Economy of the Year” during the TITAN Women in Business Awards 2023.² 

And to all the women here today, let us together champion the cause for an even more gender-responsive Philippines. 

Now, allow me to provide you with updates on recent macroeconomic and fiscal developments in the Philippine economy, which have placed us as one of the fastest-growing countries in the Asia-Pacific region.  

Sustaining the Country’s  Strong Macroeconomic Fundamentals  

The Philippines stands out as a frontrunner among emerging markets in the region, thanks to our strong capital formation and accelerated government spending. Our economy demonstrated resilience, expanding by 5.6 percent in 2024, outpacing Malaysia China, Indonesia, Singapore, and Thailand.  

Inflation, which continues to be a pressing global issue, remains manageable in the Philippines. For February 2025, it settled at 2.1 percent, a significant improvement from last year’s 3.4 percent and well within our target range.  

Our employment rate has also risen to 95.7 percent, meaning 48.49 million Filipinos are now employed, benefiting from our demographic advantage: a young and highly skilled workforce—with a median age of 25—that will continue to fuel business growth in the coming years. 

Medium-Term Fiscal Program 

On the fiscal front, our commitment to growth-enhancing fiscal consolidation remains steadfast. In fact, our budget deficit for 2024 dropped to 5.7 percent of GDP—a marked improvement from the 6.2 percent recorded in 2023 and well within the fiscal outlook of the DBCC.  

This was mainly driven by the government’s better-than-expected spending and revenue performance in 2024, which reached Php 5.925 trillion and Php 4.419 trillion, respectively.  

We are also working very hard to achieve an “A” credit rating and I am proud to share that through fiscal discipline, we earned an upgrade from S&P Global,  revising the Philippines’ credit outlook from “stable” to “positive”—among a series of high credit rating affirmations last year. As you may know, this allows us to borrow at lower costs, creating room for more meaningful investments in key sectors. 

I am also proud to report, in case you haven’t heard, that the Philippines was recently removed from the grey list of the Financial Action Task Force (FATF)—an achievement that will further boost investor confidence and increase foreign direct investments.  

FY 2025 National Budget  

On the budget side, we are committed to maintaining our economic growth momentum by fully utilizing the FY 2025 National Budget as an essential tool for growth, guided by three essential principles: Fiscal Discipline or spending within our means; Allocative Efficiency or spending on the right priorities; and Operational Efficiency or spending with measurable results. 

Guided by these principles, the National Budget for FY 2025—amounting to Php 6.326 trillion and equivalent to 22.0 percent of GDP—will propel economic and social transformation by prioritizing programs and projects aligned with the Philippine Development Plan 2023 to 2028.  

By Sector  

The Social Services sector received the highest allocation, amounting to Php 2.030 trillion, or 32.1 percent of the National Budget, followed by the Economic Services sector, with Php 1.968 trillion, or 31.1 percent of the budget.³

As mandated by the Philippine Constitution, education⁴ remains the government’s top priority, covering 16.7 percent of the national budget, well within the 15 to 20 percent threshold set by the UNESCO Education 2030 Framework. 

On top of this, the budget of the Department of Health has consistently increased annually by 11.61 percent since the administration took office in 2022. PhilHealth also has some investible funds and some Php 80.0 billion from Continuing Appropriations, which can be used until the end of December. 

We are also strengthening social protection with a budget of Php 217.50 billion for the Department of Social Welfare and Development to ensure no one is left behind in our pursuit of prosperity. 

Further, we are determined to improve agricultural productivity with the Department of Agriculture and its attached agencies receiving a budget of Php 237.4 billion this year.   

Infrastructure Development  

Infrastructure development remains one of our top priorities, with 5.0 to 6.0 percent of GDP allotted annually for infrastructure spending. 

For this year,  Php 1.645 trillion or 5.7 percent of GDP shall continue to support the Build-Better-More Infrastructure Program.  

This will fund key infrastructure projects, driving the development of road networks, bridges, railways, and other critical transport systems that will facilitate connectivity and economic activity across the country. We will also build social infrastructure, such as school buildings, hospitals and health centers, water supply, and irrigation systems, to help boost inclusive economic growth. 

Over the medium term, we will build 186 infrastructure flagship projects or IFPs with estimated high investment returns and sizable socioeconomic impact, ranging from physical and digital connectivity to renewable energy and transport systems. 

Public-Private Partnerships 

To fund these critical infrastructure projects, we are leveraging innovative financing mechanisms, including strategic co-investments with the private sector through Public-Private Partnerships or PPPs.  

And I am happy to share that private sector participation is now made faster and easier with the new PPP Code. 

In fact, we have successfully awarded three (3) PPP airport projects in 2024, including the country’s main international airport—the Ninoy Aquino International Airport—and airports in Laguindingan and Bohol. We have also approved the privatization of two (2) airports, one in Dumaguete and another in Siargao. 

Moreover, we are developing the Luzon Economic Corridor—a transformative hub for commerce, industry, and logistics. This will help drive regional development and fuel economic growth. 

Finally, we have recently enacted the CREATE MORE Act or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy, which provides competitive and generous fiscal and non-fiscal incentive packages to our investors.  

Climate Change Expenditures 

While all these point to a promising and thriving economy, we also recognize the importance of taking the green path toward a future-proof and sustainable economy.  

Hence, our climate change expenditures for FY 2025 will more than double to Php 1.156 trillion from only Php 457.4 billion in 2024, the highest increase since we started tracking in 2015. Among our top priorities will be investing in sustainable energy and climate-smart industries and services, which will substantially increase by over 2,000 percent as we build the foundations of a sustainable economy.  

Digitalization  

We are also keen on building not just public infrastructure but also digital infrastructure. Hence, we have allocated Php 68.9 billion to support the government’s digital transformation. 

Implementation of the FY 2025 National Budget  

To effectively implement the National Budget and ensure prudent fiscal management, no less than President Ferdinand R. Marcos Jr. declared that “all increases in appropriations and new budgetary items shall be subject to cash programming; applicable budget execution rules; and vetting and approval of concerned offices.”  

This implies that all Congress-Introduced Changes and/or Adjustments in the 2025 General Appropriations Act (GAA)—worth roughly Php 757.0 billion—will require a special budget request and supporting documents before funds will be released. This serves as an added safeguard to prevent misuse of the budget, ensuring that increases or new budgetary items introduced by Congress secure approval from the President and the Department Heads and comply with budget rules and guidelines. 

Challenges  

However, we recognize that there are still other challenges that need to be addressed to ensure the effective implementation of government programs and projects. That’s why the DBM is implementing several game-changing digitalization and procurement reforms to further boost government spending. Allow me to share some of our initiatives with you.   

Program Convergence Budgeting 

First, Program Convergence Budgeting.  

To address the overlap and redundancy of government programs, we are strengthening our efforts on Program Convergence Budgeting (PCB).  

For the Proposed FY 2026 National Budget, we have identified 13 PCB programs, with several key programs already in motion. Among these are the PCB on Livelihood and Employment, the Water Resources Program, and the PCB on the Sustainable Development Goals. On top of this, we are adding a new project, led by the DBM—the PCB on Public Financial Management (PFM) Systems! As DBM Secretary, I am deeply committed to ensuring that this initiative lives up to its potential.  

Budget Reforms  

Meanwhile, to address delays in the submission of Financial Accountability Reports and discrepancies in online and manual submissions, we are determined to fully digitalize and harmonize our PFM systems and policies.  

As such, we launched the PFM Reforms Roadmap 2024 to 2028, our blueprint for the full digitalization of PFM processes through the adoption of the Integrated Financial Management Information System (IFMIS) across all government agencies.   

We are first developing the Budget and Treasury Management System or BTMS, which we launched last December. This will serve as a core central system that will link and facilitate data exchanges between existing separate systems, enabling real-time monitoring of government transactions.  

Procurement Reforms  

Another landmark reform that will capitalize on digitalization is the New Government Procurement Act (NGPA)—hailed as the biggest anti-corruption measure in the country’s recent history. 

Through the NGPA, we have established an electronic Marketplace or e-marketplace—an online platform where agencies may directly procure supplies and equipment from competent and reputable suppliers. I am happy to share that we have started using this platform for the procurement of motor vehicles, airline tickets, cloud computing services, and even software licenses. This project is similar to Lazada and Shopee!  

We are also championing sustainability through green public procurement, encouraging agencies to procure common-use supplies and equipment with green specifications.  

DBM also recently released Joint Budget Circular No. 2025-1, which provides guidelines on the government-wide adoption of the Government Purchase Card—an alternative payment solution for procuring goods and services. This aims to eliminate procurement lead time; shorten the time to liquidate government transactions; and develop a database of financial information. 

In the true spirit of open government, we have likewise introduced open contracting; hence, data and documents will be disclosed at all stages of procurement, from planning to contract implementation. Not only that, as we are committed to having an open government, especially as I am also the Chairperson of the Philippine Open Government Partnership (PH-OGP) or PH-OGP, we have made sure that we introduced a participatory procurement process where the public can serve as observers during procurement proceedings. 

Promoting Open Governance  

Speaking of OGP, we cannot emphasize enough that we do recognize that having an open and transparent government is also essential in building a thriving business climate. Hence, we have placed transparency and accountability at the forefront of our Agenda for Prosperity. 

I am proud to share that for the first time, under the PBBM Administration, we have institutionalized the Philippine Open Government Partnership through Executive Order No. 31, signed last 2023. 

The Philippines has also been recognized as the most fiscally transparent country not just in Southeast Asia but in the entire Asia, thanks to our timely and comprehensive publication of all key budget documents that are open for public review and scrutiny. We also maintained our lead in Southeast Asia for Public Participation in the latest Open Budget Survey.  

We also hosted, for the first time, the OGP Asia and the Pacific Regional Meeting last February, bringing together over a thousand open government champions and reformers from more than 40 countries to share best practices, exchange ideas, and commit to advancing an open government. We held three major plenaries, three high-level roundtables, 35 side events, and more than 20 breakout sessions on OGP policy areas, including fiscal openness.  

Through initiatives like the PH-OGP, we aim to create an environment where financial institutions can operate with certainty, knowing they are engaging with a government that is transparent, accountable, and truly open. Perhaps in the future, we can also collaborate with FINEX for our open government initiatives, and hopefully, you can join us again on the PH-OGP Steering Committee. 

Closing 

As you can see, the FY 2025 National Budget is not just a set of figures and allocations—it is a strategic investment in our Agenda for Prosperity. Every peso we invest in education, healthcare, infrastructure, agriculture, and social welfare is an investment towards fulfilling the needs and aspirations of the Filipino people.  

However, we recognize that we can only achieve this through a whole-of-society approach, with our partners in FINEX and all of you leading institutions in the business community playing a crucial role in this endeavor.  

So we look forward to our continued and strengthened partnership as we drive innovation, create jobs, and build a more resilient, sustainable, and prosperous Bagong Pilipinas. 

Thank you very much.  

Wabillahi Tawfiq Wal Hidaya, Wasalamu alaikum wa rahmatullahi wa Barakatuhuh.  

 

END 

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¹Reference: https://awards.womenstabloid.com/leadership-awards-2024/

²Reference: https://thewomenbusinessawards.com/winner-info.php?id=360

³FY 2025 GAA, by Sector

⁴FY 2025 GAA, Top 10 Departments

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To my fellow Philippine Open Government Partnership (PH-OGP) Steering Committee members, distinguished leaders and members of the government and civil society, esteemed panelists, and all the champions of open government and gender equality: Magandang umaga and Happy National Women’s Month sa ating lahat! 

Assalamu alaikum wa Raḥmatullahi wa Barakatuh. 

First, I would like to thank the remarkable women leaders, advocates, public servants, and changemakers who have shared their inspiring stories of continuously breaking barriers and building bridges towards a more open and gender-fair world. 

Today’s forum delivers a strong message that every woman has the power to drive change, lead communities, and make a difference, especially if they are empowered to do so. 

This National Women’s Month theme reminds us that women’s empowerment should be inclusive, leaving no one behind in our journey towards having access to equal opportunities. 

This vision calls for a multi-sectoral approach because it is only through collective resolve that we can address such a deeply rooted societal issue. And OGP is the ideal platform to facilitate this collaborative effort as open governance is not just a policy framework—it is a movement towards building a future that is truly open for everyone’s participation, especially women’s. 

We proved this commitment during the recently held OGP Asia and the Pacific Regional Meeting, where thousands of high-level government representatives, civil society leaders, and policymakers gathered to shape the future of open governance worldwide.  

While I was not able to attend all 60 plus sessions, I am proud to share that each one was dynamic, meaningful, and impactful—primarily because I know that women were present in every room, not just as passive participants but as progressive leaders contributing to every discussion and decision.  

Today, we have witnessed once again that our nation will truly prosper if we let women do what they do best: uplift not only themselves but everyone around them. They break barriers today so that the next generation of women and girls can live without limits and flourish without fear. They build bridges so that future leaders can access more opportunities to reach their fullest potential. And most importantly, they inspire us to do the same.  

Despite the progress we've made so far, we cannot deny that significant barriers still remain, particularly for women in marginalized communities. While they may not be present in forums like this, they also carry stories of struggle, resilience, and hope—stories that are equally deserving of our recognition. 

With that, I am honored to welcome you to the “Babae sa Lahat ng Sektor, Aangat ang Bukas sa Bagong Pilipinas” art exhibition. This is more than just a showcase of artistic talent—this is a tribute to the indomitable spirit of women across all sectors.  

Each artwork tells a story of women who have dared to make a difference, stood firm on their principles, and transformed communities with their courage and vision.  

And so may you find inspiration and continue our advocacy for gender equality through these powerful representations—not only this month, but every day. As women consistently play a vital role in making our world better, it is also incumbent upon us to champion the cause and protect the rights of every woman. 

So let us work together, with our renewed energy and purpose from today’s event, to ensure that every woman in every sector can thrive in a Bagong Pilipinas that is truly open, inclusive, and empowering. 

Thank you very much. 

 

END 

 

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To Office of the Presidential Adviser on Peace, Reconciliation and Unity (OPAPRU) Secretary Carlito G. Galvez Jr., 

The Women, Peace, and Security (WPS) Center of Excellence Executive Director Susana Guadalupe Marcaida, 

Colleagues in the government, members of the Diplomatic Corps, development partners, civil society leaders, 

Fellow champions and advocates of the WPS Agenda,  

A pleasant evening to everyone, and Happy National Women’s Month! 

Assalamu alaikum wa Raḥmatullahi wa Barakatuh 

Before anything else, I would like to extend my warmest congratulations to OPAPRU on the successful launch of the Center of Excellence (CoE) on WPS—the first in the Philippines and only second of its kind in Southeast Asia! More importantly, we thank you for working tirelessly to make this dream come true. 

This comes at a very opportune time not only because your launch coincides with National Women’s Month but also because this year marks the 25th anniversary of the United Nations Security Council Resolution 1325 and the 30th anniversary of the Beijing Declaration and Platform for Action (1995)—landmark documents for advancing gender equality and promoting the essential role of women in peace processes.  

As we commemorate the adoption of these documents, let us reflect on our journey to achieving a truly gender-fair and peaceful world.  

Recent studies show that we continue to confront the same challenges, with progress on gender equality and women's involvement in peacebuilding is still limited.  

In fact, conflict, instability, and violence are escalating globally, with women and girls bearing the brunt of the impact. They suffer from food insecurity, displacement, and lack of access to education and even healthcare. And even in the absence of armed conflict, women face security threats related to climate change, cybersecurity, digitalization, and geopolitical tensions. 

The 2023 Women, Peace, and Security Index—the only index combining inclusion, justice, and security indicators to assess women’s status—reveals significant disparities worldwide. It reports that countries ranking highest are primarily from the Developed Country group, while those considered Fragile States are at the bottom.  

Unfortunately, the Philippines ranked 121st out of the 177 countries, scoring 0.61 on a scale of one (1) being the highest. 

This is indeed a sad reality. But we must confront this nonetheless. This is why now, more than ever, we are intensifying our efforts to strengthen the WPS Agenda in the country.  

As the Budget and Management Secretary—and proudly only the second woman to hold this position and even prouder to be the first Muslim Budget Secretary—upholding “The Women’s Budget” or the Gender and Development (GAD) Budget has always been one of my priorities. Established in 1995, this policy mainstreams gender budget tagging and advocates for gender-responsive budgeting.  

We likewise ensure that government-funded programs continue to uplift the lives of all women. This includes supporting women-led small businesses, increasing women’s access to social protection programs, education, and health services, and protecting them through climate finance. 

Towards peacebuilding, OPAPRU-led initiatives such as the PAyapa at MAsaganang PamayaNAn (PAMANA) Program have notably improved the lives of the Filipino people through capacity-building, reconstruction, and development in conflict-affected areas. This year, we allocated Php 5.26 billion to support this flagship peace and development convergence program.  

And we don’t just stop there. We also create spaces where the WPS Agenda is discussed and prioritized. 

Just last year, as you may know, through the OPAPRU, Department of Budget and Management (DBM), Department of Foreign Affairs (DFA), and the Philippine Commission on Women (PCW), the Philippines hosted the first-ever ministerial-level International Conference on WPS, bringing together thousands of stakeholders to further the WPS Agenda on the global stage.   

At this conference, the Philippine Open Government Partnership (PH-OGP) also held a side event focusing on strengthening women’s participation in peace processes and economic development.  

Now, beyond these events, this Center of Excellence on WPS will ensure that our efforts are sustainable and impactful in the long term. And I am proud that we now have a regional hub where experts and stakeholders can share best practices, forge partnerships, and increase capacity to implement WPS Agenda initiatives at local, national, regional, and even international levels.  

As the Chairperson of its Advisory Council, I am actually humbled but I am also confident that the synergy of DBM, OPAPRU, and PCW will continue to push forward the position of our country as a global leader in advancing gender equality and empowering women in peace and security, and consequently, further improve our standing in the WPS Index. 

I am sure those who monitor this index will acknowledge that the Philippines is now one of the few countries with this kind of platform. Truly, this historic achievement is a victory for millions of women whose voices, leadership, and contributions to peace efforts will be further recognized, strengthened, and amplified. 

Remember, though, that a platform is just a meaningless space if people don’t bring it to life. 

So, I call on each one of you, especially our civil society stakeholders, to actively engage, share your expertise, and help transform this space into a true Center of Excellence.  

After all, excellence is not just a title—it is forged through shared experiences and the collective resolve to overcome persistent challenges and develop innovative solutions that make a meaningful and lasting impact. 

So this Women's Month, as we celebrate women, let us, through this new center, strengthen our resolve to be champions of WPS! 

Once again, congratulations! May the Center of Excellence on WPS serve as a true source of inspiration for achieving the Agenda for Women, Peace, and Security in our Bagong Pilipinas.   

Thank you very much. Mabuhay ang mga kababaihan! 

 

END 

 

To my dearest colleagues and fellow public servants here at the Department of Budget and Management (DBM), magandang umaga po sa ating lahat! 

Assalamu alaikum wa Rahmatullahi wa Barakatuh. 

First, allow me to congratulate our Legal Service, led by our Undersecretary for Legal and Legislative Group, Usec. Janet Abuel and Director Andrea Celene Magtalas, for spearheading this year’s Legal Service Forum on the Fiscal Year 2025 General Appropriations Act’s (GAA) General and Special Provisions.  

Now in its fourth year, this LS forum is instrumental in the proper implementation of our National Budget, ensuring the timely, responsive, and efficient use of authorized funds based on existing laws, rules, and regulations.  

And there are no better people to lead us in these discussions than our lawyers and legal officers na lagi po tayong ipinagtatanggol, who have dedicated their time and expertise to guiding our department into fulfilling its mandates within the bounds of the Philippine Constitution. So, thank you for your service to the DBM and our nation! Isang malakas na palakpakan! 

As you are all aware, our National Budget for FY 2025 has undergone a thorough review to reflect our shared goal of responding to the call of the Filipino people—that “every centavo must go to programs that truly uplift lives, strengthen communities, and secure the future development of the Philippines,” as stated by President Ferdinand R. Marcos Jr. in his Veto Message.    

So, as we align our understanding and interpretation of the Special and General Provisions of the FY 2025 GAA and the Veto Message of the President, let the voice of our people inspire us to improve our budget preparation and execution process, upholding the trust vested upon us by our citizens.  

Toward this end, we’ve been doing a lot of digitalization efforts here in DBM. First, of course, to enhance efficiency, reduce delays, and eliminate corruption, we have Project TINA, or the Technical Innovations for the National Expenditure Program (NEP) Application. This will automate and make our systems interoperable on budget and management processes. 

Last October, we launched the Public Financial Management (PFM) Reforms Roadmap 2024-2028 together with the Asian Development Bank—the country’s comprehensive blueprint for modernizing and harmonizing our PFM systems.  

We also launched last year our Budget and Treasury Management System (BTMS). This is an online system where you can see real-time budget obligations and disbursements per agency.  

Alongside this, we will soon launch our Project Bumblebee. This e-portal will allow the integration of all digital payments and disbursements among government agencies under one system, establishing a real-time payment and settlement system for government transactions. 

In line with this, we will also continue our Public Financial Management Competency Program (PFMCP) to equip our PFM practitioners with the necessary knowledge and skills to manage their authorized resources effectively and efficiently.  

Moreover, the passage into law of the New Government Procurement Act (NGPA) or Republic Act No. 12009 will also significantly enhance our budget utilization. As you may know, we have already approved its Implementing Rules and Regulations (IRR) last February.   

And so, again, I would like to take this opportunity to extend my deepest gratitude to the Legal Service team for their dedication in crafting both the NGPA and the IRR. They were able to finish it right on time. Napakahaba po ng NGPA, pero natapos po nila ‘yan.  

Thank you for being the legal brains behind this law which streamlines and modernizes the procurement process, ensuring greater efficiency and transparency, and ultimately improving the delivery of quality public services to the Filipino people. 

Our governance reforms, which aim to address the perennial challenge of underspending, are also our way of fulfilling our commitment to open governance.  

As you all know, just last month, we hosted the Open Government Partnership Asia and the Pacific Regional Meeting, attended by over a thousand participants from the entire region who actively exchanged best practices and developed innovative solutions to make governments more transparent, accountable, and participatory around the world. 

In that summit, almost every room conducting a side event, breakout session, or plenary discussion echoed a clear message. And let me reiterate that message in today’s session: raise ambitions for our people, forge genuine collaborations, and ensure that our commitments make a real difference in the lives of our citizens.  

Hence, let us work together towards a Bagong Pilipinas—a nation where government resources are utilized efficiently, effectively, and legally, within the bounds of the law, and where no Filipino is left behind, all in pursuit of our Agenda for Prosperity. 

With that, let us get to work and make this the most productive and impactful Legal Service Forum yet. 

Maraming salamat po! Mabuhay po tayong lahat! 

END