Philippines: Fiscal Transparency Evaluation

June 30, 2015

Preview Citation

Format: Chicago

Philippines: Fiscal Transparency Evaluation, (USA: International Monetary Fund, 2015) accessed September 20, 2024

Summary

This paper discusses the findings of Fiscal Transparency Evaluation on Philippines. Improving fiscal transparency has been a priority in the Philippines over recent years. The government’s public financial management reform strategy has helped initiate a wide variety of reforms, which are beginning to bear fruit. Fiscal reporting is relatively comprehensive, frequent, and timely, with many areas of good and advanced practices. Fiscal risk analysis and management is relatively strong in the Philippines compared with other countries. However, improvements are needed in a few areas, especially to capture of risks from guarantees and public–private partnership, assess the scope of tax expenditures, and introduce a longer-term perspective in the fiscal sustainability analysis.

Subject: Budget planning and preparation, Fiscal accounting and reporting, Fiscal policy, Fiscal risks, Fiscal transparency, Public financial management (PFM)

Keywords: Budget, Budget framework, Budget planning and preparation, Budgetary objective, CR, Expenditure, Fiscal accounting and reporting, Fiscal policy, Fiscal risks, Global, Government, ISCR, PFM reform program, Policy activity

Publication Details

Pages:

87
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/156
Stock No:

1PHLEA2015001
ISBN:

9781513501161
ISSN:

1934-7685

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