Department of Agriculture (DA) Senior Undersecretary Domingo Panganiban said the World Bank’s Philippines Economic Update (PEU) December 2022 edition is extra special for the agriculture sector as it focuses on public expenditure review for agriculture
On 7 December, during the PEU launch and forum, Panganiban who served as keynote speaker said, “We welcome its recommendations in ramping up efficiency and effectiveness of government spending in the sector.”
He pointed out that the report aligned well with the directions set out to improve fiscal management for the agriculture sector as one of many strategies in the development agenda. “It is hoped that this will contribute to our efforts on rebuilding and restructuring the food value chains to address the root cause of the issues that have long hampered our sector’s growth,” he said.
The PEU stated that efficiently using public funds for investments would help address the structural constraints of the sector, and deliver better extension services, stronger value chain systems, and improved business climate for agri-food systems. Its policy recommendations include focusing on diversification, investing in extension services, scaling up climate smart agriculture policies and programmes, and improving budget priority and process, among others.
He discussed the DA’s National Agriculture and Fisheries Modernisation Plan (NAFMIP), which serves as the directional plan to transform the country’s food systems. Its policy directions consider the shift from a single-commodity to multi-commodity planning approach, promotion of clustering and consolidation for economies of scale, enhancing the value chain, and climate resiliency.
“The DA will continue to embark in transforming and modernising its ways and means in order to better serve the agriculture and fishery sector and contribute to the grand goal of a food-secured nation by empowering farmers and fishers to increase their productivity and profitability,” Undersecretary Panganiban committed.
