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DoF assures Phl’s financial sustainability amid the pandemic

Joshua Lao

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The Department of Finance (DoF) reiterated its commitment to sustain the country’s fiscal resources despite the ongoing health crisis.

Finance Secretary Carlos Dominguez III highlighted this as he lauded the agency’s workforce in ensuring the sustainability of the state’s financial resources through reforms and other measures to support such.

 

“Despite the unprecedented challenge, the DoF did not waver in its commitment to ensure that our macroeconomic fundamentals remain strong and that we will not run out of resources in this protracted battle against the pandemic,” Dominguez said during the agency’s virtual anniversary celebration on Monday.

“We demonstrated our firm resolve to maintain fiscal prudence while we try to stimulate the economy. It is through your hard work and dedication that made our success in passing the tax reform packages possible,” he added.

According to him, the prudent fiscal discipline along with the reform measures allowed the country to enter the pandemic in a strong position, with reliable revenue flow and manageable debt profile.

“We had won the highest credit ratings ever. Our record of fiscal discipline eased access to urgent financing as we battled the pandemic,” he explained.

While at it, the Finance chief recognized the need to put into place necessary measures to help the nation recover and ensure the implementation of the legislated reform measures.

“We have bigger tasks ahead of us. I expect continuous innovation and excellence from this agency that has proven time and again its ability to bring about positive change,” the Cabinet official explained.

“I am confident that together, we will accomplish the goals we set out for ourselves. We started strong. We will end stronger than ever,” he added.

 

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