Digitalization seen to sustain PH brisk growth | Inquirer Business

Digitalization seen to sustain PH brisk growth

/ 08:07 AM November 24, 2022

Despite forecasts from analysts that the rate of growth of the Philippine economy will slow down after the 7.6 percent reported for the third quarter of 2022, the government is pushing for the same pace or even higher gear, according to Budget Secretary Amenah Pangandaman.

“We hope to sustain this growth, if not surpass it, and we believe that enhancing our digital governance will play a crucial role in achieving this,” Pangandaman said in a statement.

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She added that the institutionalization of budget reforms and digitalization of public financial management or PFM have been her top priorities since assuming office at the Department of Budget and Management.

Pangandaman said that by investing in digital infrastructure, the government could improve its revenue collection as digitalization promotes efficiency, transparency, and accountability in the use of public funds.

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Speaking at the Pilipinas Conference 2022 organized by the Stratbase Albert del Rosario Institute on Monday, Pangandaman emphasized the need to leverage digital interventions as part of the Marcos administration’s sustainable development programs.

“Our country needs to fully embrace and transition to digitalization, especially on government processes and business models,” she said.

“By investing in digitalization, we connect Filipinos to more opportunities,” she said. “That is why in our proposed fiscal year 2023 budget, P12.47 billion will be provided for ICT [information and communication technology] and digitalization programs and projects of the government.”

Related to this, the Philippine Statistics Authority more than 2 million Filipinos now have the printed version of their electronic or digital national IDs.

This was achieved amid efforts to enable citizens to immediately enjoy the benefits of the PhilSys ID while they address the backlog on the issuance of plastic IDs.

Such benefits include faster and seamless transactions in accessing financial and social protection services that require proof of identity, subject to authentication.

According to the PSA, the printed digital ID is designed to have the same functionality and validity as the physical card.

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PSA Undersecretary Dennis Mapa, National Statistician and Civil Registrar General, said, “We would like to underscore that every registered person will receive their physical card even if they have already claimed their printed ePhilID.”

Mapa reiterated that, just like with the physical card, claiming a printed ePhilID is free of charge.

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TAGS: DBM, digitalization, economic growth
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