試す 金 - 無料
Fix the budget process
Business World Philippines
|October 23, 2025
The flood control scandal has more to do with the flawed budget process, rather than corruption itself.
Simply put, the present process lends itself to corruption. Realistically, corruption can be minimized but not completely eliminated. And to minimize corruption, the budget process should be reformed.
If we wait for all ongoing investigations to end before modifying the budget process, then we are doomed. Worse, if we fixate only on going after crooks and jailing them rather than urgently revising the budget process in parallel, then expect corruption to persist.
The flood control scandal is the predictable result of a budget system that had tolerated opaque releases, midnight insertions, and cosmetic public participation. The sad part is that we have had an antidote in a suite of budget reform bills filed in 2010-2011 that lawmakers largely ignored.
Had Congress enacted these bills two administrations ago, many of today's losses in public money, and in trust in government, could have been avoided. We might also have had better infrastructure and improved services. Instead, we are now grappling with a bottomless pit of a scandal.
What has been revealed thus far: substandard or ghost flood projects, an over-concentrated contractor pool, and alleged kickbacks from contractors to lawmakers who facilitated the release of project funds. At the heart are hundreds of billions of pesos in flood control projects since 2022.
After the President "exposed" the problem, emergency brakes were applied. Investigations have been initiated. A number of people involved have been identified. Witnesses are being vetted. But the smarter course is to urgently design corruption opportunities out of the budget system.
このストーリーは、Business World Philippines の October 23, 2025 版からのものです。
Magzter GOLD を購読すると、厳選された何千ものプレミアム記事や、10,000 以上の雑誌や新聞にアクセスできます。
すでに購読者ですか? サインイン
Business World Philippines からのその他のストーリー
Business World Philippines
Modernizing frontlines of trade: Inside BoC’s digitalization drive
IN AN ERA increasingly defined by digital governance, the modernization of border control and customs administration has become a strategic imperative for national development.
4 mins
February 06, 2026
Business World Philippines
Targeted tax incentives and less borrowings may help Philippines avert 'growth recession' — CPBRD
THE PHILIPPINE government should boost industrial output through targeted tax incentives while cutting reliance on borrowing, allowing the private sector to drive economic activity and support a slowing economy that showed signs of a “growth recession” last year, a congressional think tank said.
4 mins
February 06, 2026
Business World Philippines
In defense of the Holy Fiscal Deficit: Accounting and economics
Part Il: The reality of how the government spends and taxes, and other misunderstandings
6 mins
February 06, 2026
Business World Philippines
Interest rate swap volumes surged in Philippines, Remolona says
INTEREST RATE SWAP (IRS) transactions in the Philippines have jumped more than 60-fold since the launch of a peso IRS facility in late 2024, the nation's central bank chief said, noting that a deepening market may improve the effectiveness of monetary policy.
1 min
February 06, 2026
Business World Philippines
NBA trades
There are trades that definitively shape futures and there are trades enveloped in uncertainty.
2 mins
February 06, 2026
Business World Philippines
Tightening the gates against smuggling
ANNUALLY, billions of pesos worth of goods and produce pass through the thousands of ports in the Philippines, making up the country's trade industry that fuels local markets and sustains livelihoods for millions of Filipinos.
4 mins
February 06, 2026
Business World Philippines
Inflation accelerates to 2% in Jan.
PHILIPPINE INFLATION accelerated to its fastest pace in nearly a year in January amid a faster rise in rents and electricity rates, the Philippine Statistics Authority (PSA) reported.
6 mins
February 06, 2026
Business World Philippines
How to cure demotivation
I’m the operations manager of a multinational.
3 mins
February 06, 2026
Business World Philippines
Trump, Xi discuss Taiwan and soybeans in call aimed at easing US-China relations
China is considering buying more US-farmed soybeans, President Donald J. Trump said after what he called \"very positive\" talks with President Xi Jinping on Wednesday, even as Beijing warned Washington about arms sales to Taiwan.
3 mins
February 06, 2026
Business World Philippines
Lufthansa Technik in talks to set up $400-M Clark facility
LUFTHANSA TECHNIK Philippines is currently in talks to establish a $400-million 15-hectare aircraft maintenance and repair operation at the Clark Aviation Capital that can service jets as large as the Airbus A380, the Bases Conversion and Development Authority (BCDA) said.
2 mins
February 06, 2026
Listen
Translate
Change font size
