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Monday, November 28, 2005
Arroyo aide calls on lawmakers to focus on budget
MANILA -- Press Secretary Ignacio Bunye called on senators and congressmen Sunday to start acting like a statesman and focus on the passage of the 2006 budget instead of engaging in continuous politicking.
Bunye said the proposed P1.05-trillion budget for 2006 is needed to hasten the country's economic takeoff.
"It is important to the national interest that members of both the Senate and the House of Representatives, regardless of their political affiliation, focus their effort on the passage of the 2006 budget. This document will play a crucial role in the life of every Filipino," he said.
Bunye said the 2006 budget is needed to build the necessary infrastructure that would help attract more investments, commercial expansion and create more jobs.
"The 2006 budget is the backbone of our economic reform agenda, the anchor of indispensable pro-poor programs and an instrument of empowered governance down to the grassroots level. The momentum of the economy will be redoubled by the passage of the budget," he said.
Senate President Franklin Drilon warned that the delay in the transmittal of the proposed 2006 budget by the House to the Senate might end up in a reenacted budget next year.
Drilon said while the Senate has already tackled the budget proposals of at least 10 departments, it has yet to deliberate on the 2006 budget which is still pending at the House committee level.
The press secretary said while the quest for gold officially started with the opening of the Southeast Asian Games Sunday afternoon, the appreciating peso could already be considered as a "gold medal earned in our unceasing quest to implement fundamental reforms."
He said the strong peso helps in bringing down import costs and in substantially cutting down the country's debt payments. He said the saved amount may then be used to "pre-terminate some of our foreign obligations or use it for more pro-poor services."
The Bangko Sentral ng Pilipinas (BSP) had said the peso could improve to 53 to 56 against the dollar by next year instead of its earlier forecast of about 56 to 57 by 2006. This stemmed from the peso's appreciation by 0.44 percent Friday due to continued remittances from Overseas Filipino Workers (OFWs) and the improved fiscal outlook due to the implementation of the expanded value-added tax (VAT).
The peso closed at 54.15 to the dollar Friday, the highest since May 9, 2005. (JMR/Sunnex)
(November 28, 2005 issue)
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Malaysia, RP duel for gold medal lead