Naimes, Ruth O.

BPA 2A

Reaction on Recent Fiscal Decisions of the Philippines

One of the highlights that I found is the plan of the Department of Finance (DOF) to
launch better online reporting of government-owned and -controlled corporations (GOCC)
debts and liabilities. According to Philippines News Agency, the DOF’s Corporate Affairs Group
(CAG) said the use of the GOCCs’ Liabilities Reporting and Processing Tool (GLRPT) will help the
department in its analysis of the debts of state-run firms, and enable it to better manage and
formulate strategies on the financial exposure of the government in relation to their liabilities.
This is necessary to avoid uneven results when it comes to evaluation. It will help avoid errors
and confusion among them. Although, it would be better if this report will also be released to
the public. It is high time that the DOF should level up for the sake of transparency. The public
has the right to know everything that the government is doing, especially on cases about money.
But all in all, the convenience of using digital tools will certainly be a great help in our
government’s finance updates.