Politics · Philippines Bureau
Marcos formalizes budget transparency platform for public spending oversight
President Ferdinand Marcos Jr. has institutionalized the Centralized Open Monitoring Platform for Accountability and Spending, strengthening the government's commitment to transparent budgeting. The Department of Budget and Management may leverage blockchain technology to enhance the system's capabilities.
LSN Philippines ·
MANILA — President Ferdinand Marcos Jr. has formalized the Centralized Open Monitoring Platform for Accountability and Spending (COMPASS), a government initiative designed to improve transparency in public expenditure tracking and oversight.
The Department of Budget and Management said it is exploring the application of blockchain and other advanced technologies to strengthen the online system's monitoring capabilities. The move aims to provide citizens with more comprehensive access to real-time data on how government funds are allocated and spent.
The institutionalization of COMPASS comes as lawmakers continue deliberating on a separate legislative proposal that would expand public access to detailed government spending information. Congressional action on the measure remains pending, leaving the executive branch to advance transparency efforts through administrative channels.
Official figures underscore the administration's push to combat corruption and inefficiency in budget execution. The enhanced platform is expected to enable more effective citizen participation in fiscal accountability, a cornerstone of the government's anti-corruption agenda.