DURING a session held with the International Monetary Fund (IMF) Gender Strategy Team in Washington D.C., Department of Budget and Management (DBM) Secretary Mina F. Pangandaman heightened her commitment to promoting gender equality and inclusivity within the national budget.
Sec. Mina along with the other members of the Philippine Economic Team are in the United States to attend the 2024 Spring Meetings of the IMF and World Bank Group (WBG).
The Budget Secretary, accompanied by DBM Principal Economist Dr. Joselito Basilio, engaged in fruitful discussions with the Deputy Director and Senior Advisor on Gender of the IMF’s Strategy Policy and Review Department, Dr. Rishi Goyal, and his team on 18 April 2024.
The dialogue provided an opportunity to exchange insights on best practices and innovative approaches to advancing gender equality within economic policies and frameworks.
Sec. Pangandaman conveyed the state of the Philippines in terms of gender equality as well as the efforts of the national government to integrate gender equality into mainstream practices to reduce disparities and foster women’s empowerment and involvement in nation-building.
Expanding on these initiatives, Sec. Pangandaman underscored the significance of gender tagging as a strategy to stimulate sustainable and inclusive economic growth.
“It can be emphasized that the integration of gender tagging into budget allocation is not just a matter of equality, it’s a fundamental step toward building a more resilient and prosperous Philippines. By ensuring that resources are directed toward initiatives that address gender disparities and empower women, we can unlock the full potential of our economy and society,” Secretary Pangandaman recently concluded.
Gender budget tagging aims, among others, to ensure that government resources are effectively and efficiently utilized to support gender-responsive policies and programs, ultimately leading to more equitable and inclusive socio-economic development.
Included as a general provision in the yearly General Appropriations Act (GAA) is the Gender and Development (GAD) budget policy, a key provision of the gender mainstreaming strategy outlined in the Magna Carta of Women (MCW) and its Implementing Rules and Regulations (IRR), otherwise known as Republic Act (RA) No. 9710. The budget policy mandates that every government agency allocate a minimum of five (5) percent of their total annual budgets for GAD programs, activities, and projects (PAPs).
“A realization I had during the UN-CSW68 in New York is that a lot of interventions are going on. We [DBM] are focusing on what we can do on the expenditure side,” added Secretary Pangandaman.
The DBM Secretary likewise highlighted the Philippine Government’s commitment to working closely with international partners, such as the IMF, to enhance gender mainstreaming efforts and achieve sustainable development goals.
IMF engagements on various areas of economic policy and governance are set to continue in May, June, and October.
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