The Department of Budget and Management (DBM) on Thursday vowed to ensure a stronger and smoother implementation of foreign-assisted projects (FAPs) in the government.

Budget Secretary Amenah Pangandaman made the commitment as the DBM held a two-day orientation program on the implementation of FAPs for national government agencies from April 26 to April 27.

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,” she said.

Pangandaman said the government should strive to meet, or even exceed, the economic growth forecasts.

She cited the World Bank’s forecast that the Philippines will reach above middle-income status within two years.

She also highlighted that the Philippines’ projected real gross domestic product (GDP) for 2023 which also ranks highest in the ASEAN region, according to the latest World Economic Outlook of the International Monetary Fund.

The S&P Global Market Intelligence, she said, has projected that the country is on track to become a 1 trillion-dollar economy by 2033.

“It is incumbent upon us to ensure that these projections are realized, even exceeded,” Pangandaman said.

The two-day program consisted of knowledge-sharing sessions among FAPs oversight agencies, including the DBM, Office of the President, Department of Finance, National Economic and Development Authority, Bangko Sentral ng Pilipinas and Commission on Audit. (PNA)