Budget secretary Benjamin Diokno said this would lead to a “more innovative, effective and responsive government in the long term”.

Budget and treasury management systems are also set to be updated.

Diokno was speaking last week at an event on public sector productivity.

The government was “modernising” the procurement system by putting in place a central electronic portal that will serve as the primary source of information using cloud technology, he said.

The system, known as Philippine Government Electronic Procurement system (MPhilGEPS) will also include an e-bidding and e-reverse auction function to make procurement more transparent.

“To complement this, the new electronic procurement system would now be using a platform for online shopping for common-use supplies and equipment with an e-wallet and virtual store,” he added.

The budget secretary added that his department wanted to eliminate standalone systems that are used for different activities, including accounting and fiscal reporting, as well as to provide real-time online monitoring for budget information.

It will also standardise and automate processes, formats and reporting across national government for “real-time reporting of all revenues, expenditures and liabilities”.

“The budget modernisation bill is meant to strengthen the government’s accountability to the people for the use of public funds through greater transparency,” Diokno said.