Home > Philippines
Gov’t Proposes P3.7-T 2018 Budget For ‘Safer, Greener, Wealthier’ PH
July 5th, 2017 | 09:43 AM | 2491 views
MANILA, PHILIPPINES
The Duterte administration has proposed a P3.767-trillion national budget for next year that aims to attain a “safer, greener, and wealthier” country.
The budget proposal, endorsed by President Duterte during a Cabinet meeting last Monday, is expected to be submitted to Congress when he delivers his State of the Nation Address (SONA) on July 24.
President Rodrigo Roa Duterte presides over the 16th Cabinet Meeting at the Aguinaldo State Dining Room in Malacañan Palace on July 3, 2017. (ROLANDO MAILO/PRESIDENTIAL PHOTO / MANILA BULLETIN)
President Rodrigo Roa Duterte presides over the 16th Cabinet Meeting at the Aguinaldo State Dining Room in Malacañan Palace on July 3, 2017. (ROLANDO MAILO/PRESIDENTIAL PHOTO / MANILA BULLETIN)
“It’s a budget that reforms and transforms,” Presidential spokesman Ernesto Abella said during a Palace press conference.
“(Budget) Secretary Ben Diokno rounded up his report by saying, ‘The budget aims for a safer, greener, wealthier, and more beautiful country, making space for the youth, the poor, disadvantaged, and handicapped,’” Abella said.
According to Abella, the proposed 2018 national budget will be 12.4 percent more than this year’s P3.35 trillion budget and 21.6 percent of the gross domestic product.
He said the Department of Education and Commission on Higher Education will get the biggest budget share among all departments.
Next on the list are Department of Public Works and Highways, Department of Interior and Local Government, Department of Health, Department of Social Welfare and Development, Department of Agriculture, Autonomous Region in Muslim Mindanao, and the Department of Environment and Natural Resources.
In terms of budget allocation by expense class, Abella said 29.4 percent will go to personnel services, 25.4 percent for infrastructure and capital outlays, 16 percent for local government units, 14.5 percent for maintenance, 9.8 percent for debt burden, and 4.5 percent for government owned and controlled corporations.
He said the budget proposal seeks “to enhance the social fabric to make sure that the entire budget is people-centered, fair, just, and value-based.”
The government also aims to reduce inequality, increase growth potential, and to maintain foundations for sustainable development, Abella said.
Source:
courtesy of MANILA BULLETIN
by Genalyn Kabiling
If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]