Department of Budget and Management (DBM) Secretary Amenah Pangandaman has called on government officials, the academe, and development organizations to adopt innovative and tailor-fit approaches to address the country’s needs and challenges, and ensure effective fiscal policies.

In a Monday news release, the DBM said Pangandaman made the call during her keynote speech at the 2024 Fiscal Policy Conference last Friday at the University of Asia and the Pacific in Pasig City.

During the event, Pangandaman underscored the macroeconomic gains from effective fiscal policies and highlighted that the country remains on track to achieve its economic targets.

However, she also called on citizens to remain vigilant as to challenges that may hinder socioeconomic transformation.

“We recognize that we must still constantly be on the lookout for innovative approaches tailor-fit to the country’s current needs —with the interest and welfare of the people as our top priority,” Pangandaman said.

The budget chief, who is also the Development Budget Coordination Committee (DBCC) chairperson, also highlighted the need for structural reforms to support the country’s sound fiscal management.

She cited the Public Financial Management (PFM) Reforms Roadmap 2024-2028, the New Government Procurement Act (NGPA), and the preparation of catch-up plans to address underspending and expedite the delivery of services to the Filipino people.

Organized by DBM, the 2024 Fiscal Policy Conference aims to gather economists and policy makers to discuss recent trends and innovations in fiscal policy and public financial management.

Breakout sessions on social impact and taxation, poverty and welfare, regional fiscal analyses, public reforms, public spending, debt management and public financing were also held after the plenary session. (PNA)