florencio “butch” b. abad secretary department of budget and management opening government...

FLORENCIO “BUTCH” B. ABADS e c r e t a r y

D e p a r t m e n t o f B u d g e t a n d M a n a g e m e n t

Opening GovernmentTowards Greater Progress

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THE PHILIPPINES: Hailed for—

1. Budget and forecasting principles2. Precision and timeliness of fiscal

objectives3. “Impressive framework” for citizen

participation4. Macroeconomic forecasts and fiscal

legislation

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The Philippines: “Sick Man of Asia”

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Change is afoot! 

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7Source: Philippine Daily Inquirer

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Good Governance = Good Performance

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“The Philippines is Southeast Asia’s strong man.”

- Bloomberg12

Robust Economic GrowthPHL GDP GROWTH FASTEST IN ASEAN

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Robust Economic Growth(GROSS DOMEST IC PRODUCT)

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Poverty Reduction ( INC IDENCE BY % OF POPUL AT ION , 1 s t SEMESTER)

Source: National Statistical Coordination Board (as of 6 March 2015)

Note: New methodology for 2013

2009 2012 2013 201423

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25

26

27

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29 28.427.9

24.9

25.8

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Unemployment and Underemployment

Down to i ts lowest rates in ten years (s ince 2005)

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BBB- in March 2014

BBBin May 2014

BBin May 2009

BB-in July 2009

BBB-in Sep 2014

INVESTMENT GRADE CREDIT RATINGS

BB+in Mar 2011

Baa3in October 2013

Ba3in July 2009

Revived Investor Confidence

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PPP Projectsper administrationSource: Public Private Partnership Center

Solicited PPPs awarded under AQUINO ADMIN106

Total Solicited PPPs under the RAMOS, ESTRADA & ARROYOADMINISTRATIONS

+ 13 More PPPsCurrently under bidding+ 2 More PPPsNegotiated & awarded

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Foreign Direct Investment

2010 2011 2012 2013 20140

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2

3

4

5

6

7

1.07

2.01

3.223.74

6.20

Chart Title

source: bsp.gov.ph

66%increase

In US$ billion

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Deficit maintained at 2.0 % of GDP

Reduced Debt Burden

Renewed Trust in Public Institutions

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Third Party Report 2010 Latest Change

Transparency International 2014 Corruption Perceptions Index

134 / 178 85/175(2013: 94/177)

+49(2013: +40)

World Bank 2015 Ease of Doing Business 144 / 183 95/189

(2014: 108/189)+49

(2014 +36)

World Economic Forum Global Competitiveness Index 2014-2015 Basic Requirements Sub-Index Pillar 1: Institutions Pillar 2: Infrastructure

85 / 139

125 / 139104 / 139

52 / 144

67 / 14491 / 144

+33+ 58+13

Heritage Foundation 2015 Economic Freedom Index 109 / 179 76/178

(2014: 89/178)+33

(2014: +20)

Improved State of Governance

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Collaboration betweengovernment and citizens

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The vastness of our future potential

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What next?Who next?

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Openness towards empowerment

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Source: ABS-CBN News

FLORENCIO “BUTCH” B. ABADS e c r e t a r y

D e p a r t m e n t o f B u d g e t a n d M a n a g e m e n t

Opening GovernmentTowards Greater Progress