The national government intends to abolish agencies that are not ready for the “modern world” in order to meet the goals set in the Medium Term Fiscal Framework (MTFF). Know more:
THE national government intends to abolish agencies that are not ready for the “modern world” in order to meet the goals set in the Medium Term Fiscal Framework , particularly bringing down the deficit to 3 percent of GDP by 2028, according to the Department of Budget and Management .
“Well, first it’s right-sizing. These are governance and efficiency reforms that we are going to introduce in the national government. We will abolish agencies that are no longer relevant in the area of digitalization and our modern world,” Pangandaman said. The Budget secretary also echoed recent World Bank findings that efforts to improve efficiency, particularly in procurement, could lead to 20 to 30 percent worth of savings for the national government.
Diokno said efforts to attain the goals set under the MTFF will also mean higher revenues. He said the current tax system, which was already reformed by the previous administration, is a key component of increasing government revenues.
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