Public fiscal administration is

about the finances of the

public sector, how these
are administered and how
these affect or promote the
general well being of citizens.
What is the importance of Public Fiscal Administration in the Philippines?
Public fiscal administration in the Philippines is important in planning the
government's goals and objectives which includes tax collection and revenue-
raising, and revenue allocation to meet the needs and demands of the people. It is
significant because it looks at how a specific budget was handled or spend, how
much of the public funds was used appropriately, and how these factors affect or
improve the welfare of the citizens as a whole.

In your own research or study, what are some key challenges faced by the
Philippines in managing public finances? What strategies can be implemented to
address them?

Financial resources provide challenges in addition to opportunities. Lack of spending

priorities is one of the difficulties in managing public budgets. As indicated in the
"Briefer on the 2024 Budget Priorities Framework," public spending should be
coordinated with the Philippine Development Plan 2023–2028 and the government's 8-
Point Socioeconomic Agenda, which prioritizes spending items that will put the
economy back on a high growth path.
Establishing financial priorities and cutting back on or giving low importance to all
unnecessary expenses are necessary to overcome this. Consider the short- and long-
term effects of placing a particular project at the bottom of the list as you prioritize the
tasks that are lined up. You might also carry out a survey to find out what the general
population needs and finds truly vital. Additionally, having a contingency plan helps
prevent overspending and non-priority spending.
It is both a responsibility and a challenge to use these resources to deliver public
services of higher quality, particularly if subnational government human resources are
not strengthened to support such efforts.