Budget Secretary Benjamin Diokno said in simple ceremonies at the House of Representatives, after submitting the budget proposal – dubbed Budget for Real Change – to Speaker Pantaleon Alvarez.
“I would describe this budget as putting our money where our mouth is,”
“Everybody will be happy,”
“we will now consider unsolicited proposals subject to Swiss challenge.”Among the government agencies that received increased budget are:
Department of Education (DepEd) – P570.4 billion from P411.9 billion this year.
Philippine National Police (PNP) – P110.4 billion from P88 billion this year.
Department of Public Works and Highways (DPWH) – P458 billion from P384.2 this year.
Department of Local and Interior Government (DILG) – P150 billion from P124.2 this year.
Department of National Defense (DND) – P134 billion from P117.5 billion this year.
Department of Social Welfare and Development (DSWD) – P129 billion from P110 billion this year.
The proposed budget is 11.6 percent higher than the 2016 budget and represents 21 percent of the projected 2017 gross domestic product (GDP).
The Office of the President budget has a substantial increase from this year’s budget. From P2.8 billion this year to P20 billion for 2017.
Vice President Leni Robredo’s office got a lower allocation, however, from this year’s P503 million – half of which was shared with her predecessor Jejomar Binay who stepped down last June 30 – to P433 million next year.
The total of lump sum items under the Special Purpose Funds (SPF) increased from 1.28 trillion in 2016 to 1.3 trillion for 2017.
Under the SPF are:
The Budgetary Support to Government Corporations (P148 billion);
Allocation to Local Government Units (P554 billion);
National Disaster Risk Reduction and Management Fund (P37 billion);
Contingent Fund (P5.5 billion from P2.5 billion in 2016);
Miscellaneous Personnel and Benefits Fund (P96 billion);
Pension and Gratuity Fund (P142 billion);
Customs duties and taxes, including tax expenditure (P19 billion)
Debt Interest Payments (P334 billion).
In his budget message, President Duterte said his administration has set a higher fiscal deficit for next year on account of higher public spending from a budget that he called “for the people and by the people.”
Duterte said the government can collect enough taxes because the economy is expected to continue growing.
Although a higher fiscal deficit will only put pressure on the government to have more debts, Duterte said:
“These added debts will not endanger our stable financial position. With strong growth, we will continue to outgrow our debt burden,”
The Budgetary Support to Government Corporations (P148 billion);
Allocation to Local Government Units (P554 billion);
National Disaster Risk Reduction and Management Fund (P37 billion);
Contingent Fund (P5.5 billion from P2.5 billion in 2016);
Miscellaneous Personnel and Benefits Fund (P96 billion);
Pension and Gratuity Fund (P142 billion);
Customs duties and taxes, including tax expenditure (P19 billion)
Debt Interest Payments (P334 billion).
In his budget message, President Duterte said his administration has set a higher fiscal deficit for next year on account of higher public spending from a budget that he called “for the people and by the people.”
“As the needs of our people increase, public spending must likewise expand to meet such demands,”
“Governance and development will be for naught if we do not take a human approach. I add: the budget is useless if the Filipino is not at its center,”
“The new deficit target for next year to 2022 allows us to increase spending on infrastructure, rural development and social services,”
Duterte said the government can collect enough taxes because the economy is expected to continue growing.
Although a higher fiscal deficit will only put pressure on the government to have more debts, Duterte said:
“These added debts will not endanger our stable financial position. With strong growth, we will continue to outgrow our debt burden,”
source: philstar
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