October 26, 2025 | 12:00am
MANILA, Philippines — The Department of Finance (DOF) reaffirmed its commitment to transparency and fiscal discipline amid rising public concerns over alleged corruption and misuse of government funds, vowing to ensure that every peso collected is spent responsibly.
Acknowledging the growing unease over corruption concerns, Finance Undersecretary Charlito Martin Mendoza stated that the DOF is working to ensure that all tax revenues are directed toward projects that yield the greatest economic and social impact.
“We take full responsibility for ensuring that the hard-earned tax revenues collected are not kept idle, but are translated directly and efficiently into concrete government programs and services with zero tolerance for leakage or misuse,” he said at the 4th SGV Tax Symposium at Makati.
Mendoza said that the DOF is a vigilant guardian of public funds, stating that the government is on the brink of a major shift toward stronger governance and full transparency across all levels of administration.
He added that they aim to build a more robust, resilient and equitable revenue system, with every policy decision and legislative proposal focused on improving efficiency and reducing economic distortions.
“This commitment to fiscal prudence and heightened accountability is the foundation of trust. When the government manages its finances responsibly and predictably, it gives the investors and innovators the confidence to plan, expand and create jobs,” Mendoza said.
Finance Secretary Ralph Recto earlier admitted that an economic slowdown is likely due to subdued spending, which could have an impact on overall economic activity.
In attaining the full-year gross domestic product target, the Finance chief said the country is likely to achieve the lower end of the goal at 5.5 percent, or possibly 5.4 percent.
On corruption issues, Recto previously mentioned that economic growth could have reached six percent, as economic losses from alleged corruption in infrastructure projects are estimated to be between P42.3 billion and P118.5 billion.
Mendoza said that they are prioritizing efforts to build public trust, drive economic transformation and uphold transparency. Together with the administration’s economic team, he also assured the private sector that the government recognizes and values its concerns.
“Let me be clear, these reforms are done to uphold the sanctity of every taxpayer’s contribution to national development. We are one with you in calling for accountability and restitution for those who have plundered public trust,” he added.
