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Recent Philippine budget reforms:separating the chaff from the grain, the whimsical from the real

Author

Listed:
  • Benjamin E. Diokno

    (UP School of Economics)

Abstract

The budget rules enshrined in the Philippine Constitution areÊfiscally sound. When adhered to they make budget deficitsÊeasier to manage. Many policymakers, however, have chosen toÊignore these rules. On the long list of budget reforms proposedÊin the past quarter-century, two emerge as real game changers:Êthe Fiscal Responsibility Act and the Results-Based MultiyearÊBudget Framework, both of which require legislation. AnÊimportant reform not on the list, however, is the proposal to limitÊthe presidentÕs power to defer, rescind, or reserve expenditure ofÊappropriations authorized by Congress. This is a major challengeÊin a country where the president is strong while Congress is weak.Ê

Suggested Citation

  • Benjamin E. Diokno, 2014. "Recent Philippine budget reforms:separating the chaff from the grain, the whimsical from the real," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 51(1), pages 60-85, June.
    • Handle: RePEc:phs:prejrn:v:51:y:2014:i:1:p:60-85
    as

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    File URL: http://pre.econ.upd.edu.ph/index.php/pre/article/view/903/803
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    References listed on IDEAS

    as
    1. Benjamin E. Diokno, 2005. "Reforming the Philippine Tax System: Lessons from Two Tax Reform Programs," UP School of Economics Discussion Papers 200502, University of the Philippines School of Economics.
    2. J. Edgardo Campos & Jose Luis Syquia, 2006. "Managing the Politics of Reform : Overhauling the Legal Infrastructure of Public Procurement in the Philippines," World Bank Publications - Books, The World Bank Group, number 7285.
    3. Cristina Corduneanu-Huci & Alexander Hamilton & Issel Masses Ferrer, . "Understanding Policy Change : How to Apply Political Economy Concepts in Practice," World Bank Publications, The World Bank, number 11879, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    budget process; budget reforms;

    JEL classification:

    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems

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