PHL enjoys ‘growing reputation’ for financial transparency – survey
The PHILIPPINES has emerged as the leading player in Southeast Asia in fiscal transparency, according to a study conducted by the International Budget Partnership (IBP), said the Department of Finance and Management (DBM).
In a statement on Thursday, the DBM said the Philippines scored 76 out of 100 on financial transparency in the 2025 Open Budget Survey (OBS) “reaffirming the country’s growing reputation as a regional leader in open governance and public finance accountability.”
The survey, using data from 2024, measures three pillars – transparency, public participation, and oversight.
“For transparency, what was measured was public access to information on how the central government raises and spends public resources,” said IBP Independent Researcher Zy-za Nadine N. Suzara at the OBS 2025 Results Forum.
The Philippines’ score of 76 indicates that the country “publishes enough information about the budget,” according to the survey. This was slightly higher than the 75 points recorded in 2023.
In East Asia and the Pacific, the Philippines posted the highest score on financial transparency, ahead of Indonesia (71), Mongolia (64), Cambodia (54), Vietnam (51), Malaysia (51), Papua New Guinea (46), and China (19).
To further improve budget transparency, the IBP recommended the inclusion of comprehensive multi-year projections and disclosure of fiscal risks.
It also urged the government to provide comprehensive information on credit, policy and performance information, and improve disclosure of income categories and individual income sources.
However, the Philippines continued to post low scores on public participation, which measures the extent to which governments provide formal and meaningful opportunities for public participation in the budget process.
The Philippines scored 37 out of 100 on public participation in 2025, higher than the 33 it recorded in 2023.
“That’s an increase of four points … but according to the OBS study and the way of working, that number even if you see an improvement is not enough,” said Ms. Suzara.
The Philippines outperformed its regional peers Indonesia (33), Thailand (28), Malaysia (20), Vietnam (17), and Cambodia (2) in the category.
In order to improve public participation, the IBP recommended that the government actively involve underrepresented communities, publish clear documents of public opinion received during budget formulation and implementation, and provide more information on public consultation processes.
The group also urged Congress to allow members of the public to testify during budget deliberations and audit report hearings, as well as to establish a public participation task force.
Meanwhile, the Philippines scored 68 out of 100 on governance, below the 83 it recorded in 2023. The index measures the role of legislatures and higher audit institutions in overseeing the budget process.
“The supervision figures have been fluctuating over the years. There have been years where the supervision scores have been very good, other years they have gone down,” Ms Suzara said.
Legal oversight posted a score of 58 out of 100, while research oversight scored 89.
To strengthen oversight, IBP said the legislature should discuss budget policy before the presentation of the Executive Budget Proposal and form a committee to review the implementation of the annual budget and audit report.
Meanwhile, he said the audit procedures should be reviewed by an independent agency every year to strengthen the independence and improve the audit oversight of the Audit Commission. – Justine Irish D. Tabile
