DRR-PFM: Creating a resilient Bagong Pilipinas

The DRR-PFM Assessment Report sheds light on the strengths, challenges, and opportunities of incorporating resilience into government finance.

- DBM SECRETARY AMENAH F. PANGANDAMAN

Assalamualaikum wa Rahmatullahi wa Barakatuh. I hope you had a safe and dry weekend despite the heavy downpour caused by Severe Tropical Storm "Crising" and the southwest monsoon, or habagat.

Our country's geographical location, as an archipelago along the Pacific Ring of Fire and the Pacific typhoon belt, predisposes us to various geological hazards and weather conditions, such as earthquakes, volcanic eruptions, and about 20 tropical cyclones annually. In fact, from 2022 to 2024, the Philippines topped the World Risk Index among 193 countries, making us the country most vulnerable to experiencing disasters. As we have seen many times, these hazards and conditions impact people's lives and our economy.

Hence, I believe that our ability to manage public funds is crucial not only to address the pressing needs of our kababayans today but to become resilient to these shocks and prevent disruptions in our pursuit of progress. As President Ferdinand R. Marcos Jr. (PBBM) emphasized in his speech at the 2024 Asia-Pacific Ministerial Conference on Disaster Risk Reduction, "Resilience and sustainability must underpin the national agenda of our economy."

DRR-PFM assessment

I am glad to note that, on June 10, we launched the Disaster Resilient and Responsive Public Financial Management (DRR-PFM) Assessment Report, along with four other Reports: the Basic Public Expenditure and Financial Accountability (PEFA), Gender-Responsive PFM, Climate-Responsive PFM, and the Child-Responsive PFM.