{"id":110628,"date":"2017-08-08T21:51:55","date_gmt":"2017-08-09T01:51:55","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=110628"},"modified":"2017-08-08T21:51:55","modified_gmt":"2017-08-09T01:51:55","slug":"diokno-vows-resolve-for-duterte-admin-to-institute-reforms","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/08\/08\/diokno-vows-resolve-for-duterte-admin-to-institute-reforms\/","title":{"rendered":"Diokno vows resolve for Duterte admin to institute reforms"},"content":{"rendered":"
\"FILE:<\/a>
FILE: Diokno said IMF\u201ds recognition of the importance of these reforms was greatly appreciated. (Photo<\/a>: Department of Budget and Management Philippines<\/a>\/facebook)<\/figcaption><\/figure>\n

MANILA, Aug. 8\u2014 Budget and Management Secretary Benjamin Diokno on Tuesday stressed the government\u2019s commitment to ensure sustained growth of the Philippine economy through the various reforms and new initiatives on infrastructure investments, among others.<\/p>\n

\u201cRest assured that the Department of Budget and Management remains steadfast in its commitment to promote rapid and equitable growth in line with the Duterte Administration\u2019s development objectives,\u201d he said in a statement.<\/p>\n

A team from the International Monetary Fund (IMF) is currently in the country for the Article IV Mission, scheduled from July 26 to Aug. 9, 2017.<\/p>\n

IMF Mission chief Luis E. Breuer, in a briefing Tuesday, said the multilateral agency remained optimistic on the medium term expansion of the domestic economy, with growth projected at 6.8 percent.<\/p>\n

The lender forecasts a 6.6 percent output for the Philippines this 2017, lower than the government\u2019s seven to eight percent target from 2018 to 2022.<\/p>\n

It cited the importance of the proposed tax reforms, saying this will ensure needed funds for the various infrastructure and social spending.<\/p>\n

\u201cPassage of the budget reform and rightsizing bill will also help further improve spending efficiency and quality, helping to achieve the inclusive growth agenda,\u201d the IMF said in a statement.<\/p>\n

Diokno said \u00a0IMF\u201ds recognition of the importance of these reforms was greatly appreciated.<\/p>\n

He said these programs \u201cwill improve the functioning of the public sector and boost the Philippine economy\u2019s growth trajectory.\u201d<\/p>\n

The Secretary of the Department of Budget and Management (DBM) said the proposed rightsizing bill \u201caims to enhance government\u2019s capacity and streamline the functions of the bureaucracy for more efficient public service delivery.\u201d<\/p>\n

On the other hand, proposed reforms on the budget \u201cwill institutionalize the reforms that have been made so far in the budget process while mandating the disciplined execution of the National Budget with the shift to a one-year cash budgeting.\u201d<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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