PRESIDENT Duterte recently created a policy-research body at the Department of Finance (DOF) to bolster the odds at achieving its socioeconomic agenda.

Under Executive Order (EO) 31, Duterte institutionalized the strategy, economics and results group (SERG) to serve under the DOF’s command. It will take instructions from the secretary of finance, with a designated undersecretary and assistant secretary to administer its operations.

The group is primarily tasked to “provide strategic advice to the secretary of finance…as regards fiscal policies and financial implications of the national government’s priority programs”. Aside from this, it is also responsible for the conduct of fiscal economics policy research that will support the identified priority programs.

Furthermore, the SERG is tasked to direct and harmonize transformative reforms designed to better the lives of Filipinos, especially the poor and the marginalized.

The SERG is divided into two new offices, each to be headed by a Director IV and to be assisted by a Director III: the strategy and results office (SRO) and the fiscal economics research office (Fero).

The SRO is in charge of the development of strategy maps and plans the government will use in transforming its socioeconomic agenda into executive and legislative action. It is tapped to provide fiscal-policy advice and inputs to finance officials and members of the economic-development cluster of the Cabinet, including quality assessment of policy decisions of the secretary of finance.

On top of this, the office is also mandated to supervise an up-to-date data bank of fiscal-economic insights, outlook, risks and accomplishments for the secretary of finance’s domestic and international engagements. It is instructed to prepare detailed implementation plans for the priority fiscal reforms in support of inclusive growth, monitor the progress of identified priority programs and mitigate any emerging risks.

Last of its tasks is to establish fiscal-reform coalitions with the public sector, private sector and civil-society organizations to fast-track the delivery of priority programs

On the other hand, the Fero is in charge of research and analysis of priority programs to ensure that fiscal policies and reforms translate to fiscal sustainability, inclusive growth, job creation and poverty reduction.

It is also tasked to forecast the economic impact of the comprehensive tax-reform program, along with other fiscal efforts of the government. On top of this, the office is also responsible for the monitoring of economic and fiscal risks and prospects for the country and provision of just-in-time technical notes to the finance chief.

The Fero, as a policy-research body, is mandated to analyze the equity and economic impact of various fiscal-related proposals of the legislature, industry associations, civil society and other stakeholders and to assess which of which is progressive and feasible. It is also authorized to coordinate with development partners, investors and rating agencies in a bid to enhance market confidence in the Philippine economy.

According to EO 31, the SERG as a policy-research body shall only be “co-terminus with the tenure of the secretary of finance of the current administration”.

The government under President Duterte looks to sustain the macroeconomic, fiscal, monetary and trade policies of the previous administration. It is, however, dead set on implementing a comprehensive tax-reform program and accelerating annual infrastructure spending to account for 5 percent of the GDP.