LATEST PUBLICATIONS
PB2020-06
Legislating Fiscal Responsibility
CN2020-01
NAVIGATING THE HEADWINDS TO SUSTAIN ECONOMIC GROWTH 2019 ECONOMIC PERFORMANCE AND 2020 ECONOMIC PROSPECTS
PB2020-05
A RISK ASSESSMENT ON THE COVID-19 SITUATION IN THE PHILIPPINES: IMPLICATIONS ON THE ECQ POLICY
PB2020-04
FIGHTING COVID-19: CONCEPTUAL CONSIDERATIONS FOR SHORT-RUN POLICY RESPONSE
Featured Publication

Legislating Fiscal Responsibility

Estrada, Miguel Antonio, G. Villaluz, Coleen Abigail, VLamberte, Mario B.


House Bill No. 2807 or the “Budget Reform Bill” (BRB), filed in the 18th Congress, aims to institutionalize fiscal responsibility by enshrining principles and requiring a set of reports from the Executive Branch to regularly inform Congress about the goals, targets, and conduct of fiscal policy. The principles go beyond deficit and debt targets as ultimate measures of fiscal responsibility, and make macroeconomic stability as just one of several fiscal policy objectives. By identifying inclusive economic development as a principle, the BRB ensures that the quality of expenditures, and not just its level, is given emphasis. In addition, the reportorial requirement is an accountability mechanism to strengthen the power of Congress to hold the President to account for the conduct of fiscal policy. The sections regarding the Statement of Fiscal Policy, Medium-term Fiscal Strategy, Mid-year and Annual Fiscal Reports, and the report explaining deviations from the target provide clear guidance on the information that the President needs to disclose to Congress. Worth noting is that the bill mandates the President to report to Congress any deviation from the target and the means to address fiscal issues. In effect, the President is directly subjected to Congressional scrutiny for actions that result in deviations from the target.


CN2020-01  NAVIGATING THE HEADWINDS TO SUSTAIN ECONOMIC GROWTH 2019 ECONOMIC PERFORMANCE AND 2020 ECONOMIC PROSPECTS
PB2020-05  A RISK ASSESSMENT ON THE COVID-19 SITUATION IN THE PHILIPPINES: IMPLICATIONS ON THE ECQ POLICY
PB2020-04  FIGHTING COVID-19: CONCEPTUAL CONSIDERATIONS FOR SHORT-RUN POLICY RESPONSE
PB2020-03  HOW TO MANAGE A NATIONAL DISASTER TRUST FUND IN THE PHILIPPINES
PB2020-02  LOOKING INTO THE IMPLEMENTATION OF PUBLIC UTILITY VEHICLE MODERNIZATION PROGRAM
PB2020-01  STRENGTHENING THE RIGHT-OF-WAY LAW TO ACCELERATE INFRASTRUCTURE GROWTH
PB2019-02  WHO IS IN CHARGE? ENVISIONED DEPARTMENT OF DISASTER RESILIENCE HOPES TO PROVIDE ANSWERS MOVING FORWARD
DP 2020-17  Agricultural Employment and the Rural Household: A Characterization for Selected Provinces in the Philippines
DP 2020-16  PIDS-BSP Annual Macroeconometric Model for the Philippines: Preliminary Estimates and Ways Forward
DP 2020-15  Projected Disease Transmission, Health System Requirements, and Macroeconomic Impacts of the Coronavirus Disease 2019 (COVID-19) in the Philippines
DP 2020-14  Barriers to Application of Weather and Climate Information in Smallholder Vegetable Farming in Benguet
DP 2020-13  Analysis of the 2020 President's Budget