GMA News
Marcos says financial management roadmap to push digitalization of services
President Ferdinand Marcos Jr. has endorsed the Public Financial Management (PFM) Reforms Roadmap 2024-2028, which aims to improve efficiency in government services through digitalization.
The roadmap, crafted under Executive Order No. 29 in June 2023, seeks to create an integrated financial management system across all government offices.
Marcos Jr. emphasized that digitalization is a necessity for making informed decisions and that the roadmap embraces innovation to deliver more efficient and streamlined public services.
Key objectives include improving cash management, accounting, auditing, public procurement, and delivering efficient disaster relief, better public healthcare access, and expanded social services.
The PFM reforms will involve implementing and mapping data systems for the Budget and Treasury Management System, revisiting the Unified Accounts Code Structure, and creating a policy framework for PFM data sharing.
Additionally, the government will standardize internal audit guidance, create a PFM Institute for capacity development, and modernize payment systems for public expenditures.
The roadmap ensures public funds are used effectively for purposes that truly matter and make a difference.
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