Public Financial Management Program Implementation

The Philippines–Australia Public Financial Management Program (PFMP) will assist the Philippine Government to implement its Philippine Public Financial Management (PFM) Reform Roadmap to improve the efficiency, accountability and transparency of public fund use in the Philippines. The PFMP prioritises practical budgeting and expenditure management reforms that improve the basic building blocks for a modern PFM system. It will help decision-makers to do their jobs efficiently, effectively and economically so that Filipinos benefit from improved delivery of goods and services. The program's four strategic objectives are: increase the efficiency and effectiveness of the allocation, utilisation and reporting of budgeted funds by oversight agencies; improve PFM capability in select departments to enable more efficient utilisation and accountability of public funds for service delivery; generate more timely, reliable and accessible public expenditure management information; and strengthen external oversight of public expenditure management linked to physical performance information. The total value of this initiative is $36.0 million over 5 years, starting 2011-12.