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Wednesday, July 09, 2003
DBM to issue guidelines for 2004 budget proposals
By Rubelyn Yap
THE regional office of the Department of Budget and Management-Region 10 (DBM) 10 ordered all the government agencies and groups to follow its guidelines and procedures in the preparation of its budget proposals for year 2004.
Regional Director Arlyn Nierre said their memorandum is important for all concerned agencies in order to provide the overall macro-economic and fiscal policy framework and priority thrusts for fiscal years 2004-2006.
Nierre said the policy framework would prescribe the guidelines and procedures in preparing the agency budget which should be done within the context of the medium-term fiscal plan.
"This would mean providing guidelines aligning the expenditures and income accounts under the New Government Accounting System (NGAS) with a simplified budgetary classification," she said.
Nierre said the 2004 budget is reflective of the government's medium-term fiscal consolidation and debt reduction strategies towards sustainable socio-economic development.
"The budget shall be formulated to support the attainment of a strong republic through empowered institutions," she said.
In planning the budget, Nierre said limited resources shall be strategically allocated in keeping with priority programs identified in the Medium Term Philippine Development Plan.
The regional DBM chief said the agencies should be guided by the Arroyo Government's thrusts, which includes continuing adoption of a debt reduction strategy.
She said the national government would also focus its resources on the realization of the State of the Nation (SONA) commitments and the eight point program of the government.
She also pointed out that budget reform/measures must be pursued. "The government shall continue to pursue, through the Presidential Committee on Effective Governance, any administrative and legislative measures to improve government service delivery," Nierre said.
The DBM memorandum stated that the budget for 2004 must be consistent with the macroeconomic projections for FYs 2003-2006.
According to projections Gross National Product Real Growth
will rise from 4.5 percent to 5.4 percent with the Gross National Product (GNP)growth to grow from 4.2 percent to 5.2 percent.
Inflation rate for this year is expected to grow from 4.5 to 5.5 percent while the foreign exchange rate would be from P52 to P54 to one US $1.
(July 8, 2003 issue)
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