Manila, March 6 -- The Department of Budget and Management (DBM) and the National Economic and Development Authority (NEDA) signed on Thursday a joint memorandum circular strengthening the Program Convergence Budgeting (PCB) approach, as part of the efforts to promote the efficient and effective allocation and management of fiscal resources.

DBM Secretary Amenah Pangandaman and Socio-Economic Planning Secretary and NEDA Director General Arsenio Balisacan signed the joint memorandum circular in a ceremony at the DBM's central office in San Miguel, Manila.

"Consistent with the commitment of institutionalizing the PCB strategy in the budget process, this Joint Memorandum Circular (JMC) is being issued to further strengthen the planning-pro...