P2.265-T budget for 2014 signed

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Friday, December 20, 2013

PRESIDENT Benigno Aquino III on Friday signed the P2.265-trillion 2014 General Appropriations Act (GAA), which will finance the government's goal of achieving inclusive growth anchored on good governance.

In the signing ceremony in Malacanang of Republic Act No. 10633, the Chief Executive thanked Congress for the early passage of the budget for next year.

“Through proper spending—and through cooperation with partner institutions—we will equip the government with the wherewithal to respond to any situation confronting our country. This is still the basis of our goal to ensure that each peso in our national coffers redounds to equivalent benefits for our bosses—the Filipino people.”

To attain inclusive growth, the President said his administration continually increases the budget for social services at P841.8 billion—more than 20 percent higher than the 2013 budget.

The government has also expanded the scope of the Pantawid Pamilyang Pilipino Program, allocating P62.6 billion for 4.3 million poor families, and for 4.3 million students that the government will support until high school.

The 2014 national budget also allocated P44.6 billion for the construction and rehabilitation of more than 43,000 classrooms, the President said.

Also as a way to empower the people move out of poverty, the government allotted P35.3 billion for the healthcare needs of 14 million families under the National Health Insurance Program.

The administration also focuses on the economy to ensure continued growth and eventually create more opportunities for the people, he said. This is the reason why the government allocated P593.1 billion for the country’s economic services sector. The amount represents a 16.5 percent growth from the previous year, and is equivalent to 26.2 percent of the country’s entire budget.

Foremost in the government’s priority allocations is in the infrastructure sector, the President said noting that around 3.2 percent of the country’s gross domestic product will go to roads and bridges, ports and airports, farm-to-market roads and irrigation projects, and electrification for far-flung areas.

To develop the agriculture sector, the government allotted P10.7 billion for the increased productivity of 1.3 million farmers. This is in addition to the budget earmarked for agricultural infrastructure.

The government has also allocated P5.5 billion for promoting Philippine tourism, he said.

The crafting of the 2014 national budget embodies the promise the government made to the people: where there is no corruption, there will be no poverty.

“The reforms we are implementing in government do not end with our abolition of PDAF (priority development assistance fund). We crafted the National Budget for 2014 to strengthen the transformation of the management of our nation’s coffers,” he said.

Among those present during the signing ceremony were Senate President Franklin Drilon, Vice President Jejomar Binay and Speaker Feliciano Belmonte. (SDR/Sunnex)

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