Dialogue with Monetary Board Member Benjamin Diokno highlights importance of fiscal discipline and transparency

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MANILA, Philippines — Members, officers and guests of the International Public Relations Association (IPRA) Philippine Chapter gathered for a dialogue with Monetary Board Member Benjamin Diokno, where discussions centered on the national budget and its critical role in shaping the country’s development trajectory.

The session underscored that the national budget is more than a compilation of figures. As Diokno emphasized, “The national budget is the most consequential task of Congress. It shapes the lives and aspiration of every citizen.”

This message resonated strongly with attendees, highlighting the need for careful stewardship of public resources.

Diokno presented an overview of the budget’s evolution from 1987 to 2026, noting the steady expansion of government expenditures and the continuing challenge of balancing revenues, spending and deficits.

For Fiscal Year 2026, expenditures are projected at P6.63 trillion against revenues of P4.98 trillion, underscoring the importance of prudent fiscal management.

A key portion of the discussion focused on 10 practical principles for strengthening fiscal responsibility and accountability.

These included respecting the budget formulation process, supporting the President’s proposed budget once finalized, honoring foreign-assisted projects, and ensuring transparency by making budget documents publicly accessible.

These reminders, presented constructively, reinforced the value of discipline and predictability in public financial management.

The dialogue also highlighted the importance of transparency in the legislative phase. Publishing both House and Senate versions of the General Appropriations Bill was cited as a meaningful step toward strengthening public trust.

Attendees likewise noted the positive example set during the 2026 budget bicameral conference committee proceedings, which were facilitated with openness and clarity.

The event concluded with a shared recognition that fiscal governance is a collective responsibility. The insights from the session encouraged continued collaboration among policymakers, communicators and stakeholders to ensure that the national budget remains a tool for sustainable and inclusive development.

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