Dominguez boasts policy continuity in DOF (Sabong News)

With his term ending in two months, Finance Secretary Carlos G. Dominguez III boasted one “proud tradition” in the Department of Finance (DOF): policy continuity despite changes in political leadership. At the dinner hosted by Dominguez for former DOF secretaries, he said that under his watch he built on his predecessors’ successes and ensured that any changes were still attuned to policy continuity as has been done in the past. The Duterte administration did not alter the major policies of its predecessors in the DOF, Dominguez said “Filipinos, they say, honor their ancestors. At the Department of Finance, we pay tribute to our predecessors. This Department boasts of policy continuity. From one administration to the next, we improve rather than change standing policy,” Dominguez said. According to Dominguez, policy continuity helped the Duterte administration succeeds in passing and implementing the its comprehensive tax reform program (CTRP) and other game-changing reform measures. He added that his predecessors also helped in preparing the Philippine economy for inclusive and sustainable high growth. “Our team, which you trained and recruited, did their utmost to prepare our economy for this new world. We maximized their training and learnings to be able to pass and effectively implement the Comprehensive Tax Reform Program (CTRP),” Dominguez said. “I thank my predecessors for sharing their wisdom and valuable advice,” he added during the the dinner last Friday, April 29, which was part of the DOF’s activities marking its 125th anniversary. He cited the former DOF secretaries and other “dependable partners” for bringing “foresight, policy acumen, and high public esteem” to the department, ensuring policy continuity. Among those who were present at the dinner were former Finance Secretaries Cesar Purisima, Margarito Teves, Roberto de Ocampo, Jose Pardo, Jose Isidro Camacho, and Cesar Virata. Also at the dinner were Ndiame Diop, the country director for the Philippines of the World Bank; Kelly Bird, the country director for the Philippines of the Asian Development Bank; Paul Dominguez, alternate executive director of the ADB; and officials of the DOF. Dominguez said that at the end of the Duterte administration, he is proud to say that the DOF had worked hard to maintain the Philippines’ strong fiscal position as well as prepare the economy for inclusive and sustainable high growth. “This is merely a continuation of the great work you have done in the preceding years,” Dominguez told his predecessors.