|
Wednesday, July 30, 2008
Palace eyes P1.4-trillion budget for 2009
MANILA -- Malacañang is considering an 11 to 15 percent higher budget for 2009 or in the range of P1.4 trillion.
Secretary to the Cabinet Silvestre Bello III and Planning Secretary Ralph Recto said the first official discussion on the 2009 budget was made Tuesday after the National Economic and Development Authority (Neda) Cabinet Group meeting.
Arroyo Watch: Sun.Star blog on President Arroyo
The 2009 budget, said Bello, was drafted in a way that it would ensure that the commitments made by President Gloria Macapagal-Arroyo under her eighth State of the Nation Address (Sona) would be realized.
He said there would be increased budgets for the agriculture, public works, and education departments.
The top five agencies or programs that would get the budget's biggest share are the agriculture, public works, education, and social welfare departments, and the Philippine Health Insurance Corporation (Philhealth) under the health department.
Bello said the biggest appropriation would still go to education while the biggest "allocation in terms of the (Sona) commitment of the President would go to the Department of Public Works and Highways (DPWH)."
He added that there were initial allocations already eyed for the different departments, which were determined using the "new policy on performance budgeting."
He defined the performance budget policy as a means of determining how much a department or agency would receive based on their performance especially the implementation of previous projects and programs under their offices.
The Department of Budget and Management is doing the performance evaluation, said Bello.
Recto said under the performance budget policy, agencies that perform well in the implementation of projects and programs and have the absorptive capacity to spend would get bigger allocations.
He said given bigger resources, they expect these agencies to have "greater output as well."
Recto added that the government is still targeting to balance the budget by 2010 and is eyeing a half percent of the gross domestic product as deficit in 2009 or around P40 billion, which is "still manageable."
Asked for the other fiscal targets for 2009, Recto said they are still finalizing this "but more or less you have an indication of something higher than the inflation rate should be the adjustment for 2009 comparing it to 2008 budget."
He said the economic managers are still set to meet "on the final macroeconomic assumptions." (JMR/Sunnex)
For more Philippine news, visit Sun.Star Baguio. (July 30, 2008 issue)
Write letter to the editor. Click here. |
|
|
|
[return to top]
[home]
|
|
