The Department of Finance has reaffirmed its commitment to transparency and fiscal discipline as concerns rise over corruption and misuse of government funds, as Finance Undersecretary Charlito Martin Mendoza said that the DOF is working to ensure that all tax revenues are directed toward projects that yield the greatest economic and social impact.
He said the DOF is a vigilant guardian of public funds, stating that the government is on the brink of a major shift toward stronger governance and full transparency across all levels of administration.
He added that they aim to build a more robust, resilient, and equitable revenue system, with every policy decision and legislative proposal focused on improving efficiency and reducing economic distortions.
Finance Secretary Ralph Recto earlier admitted that an economic slowdown is likely due to subdued spending, which could have an impact on overall economic activity. On corruption issues, he previously mentioned that economic growth could have reached six percent, as economic losses from alleged corruption in infrastructure projects are estimated to be between P42.3 billion and P118.5 billion.
Mendoza said they are prioritizing efforts to build public trust, drive economic transformation, and uphold transparency. Together with the administration’s economic team, he also assured the private sector that the government recognizes and values its concerns. “Let me be clear, these reforms are done to uphold the sanctity of every taxpayer’s contribution to national development. We are one with you in calling for accountability and restitution for those who have plundered public trust,” he added.
Transparency and fiscal discipline are big words that are easy to promise, especially during these times when the public is particularly disgusted by the many ways that our government has failed to properly safeguard the taxes that an agency like the Department of Finance has been squeezing from us, only to see billions being lost to corruption and plunder.
Filipinos know by now that talk is not only cheap, but corruption is terribly wasteful and expensive. Only action, reforms, and justice can convince us that our government is truly looking after interests this time around.*
