PRESIDENT Rodrigo Duterte has approved the proposed P3.757-trillion cash-based national budget for 2019, Malacañang announced Tuesday, July 10.
The amount is slightly lower than the 2018 budget of P3.767 trillion, which was obligations-based.
Presidential Spokesperson Harry Roque Jr. said Duterte approved the 2019 budget proposal during the 27th Cabinet meeting held at Malacañan Palace on Monday, July 9.
"Ang na-approvan pong budget ng [Presidente at ng] Gabinete for the year 2019 is P3.757 trillion," Roque told a press conference in Indang, Cavite.
(The budget approved [by the President and] the Cabinet for the year 2019 is P3.757 trllion.)
Roque said personal services would take up P1.185 trillion; maintenance expenditures, P562.9 billion; capital outlays, P752.7 billion; allotment to local government units, P640.6 billion; support to goverment-owned and controlled corporations, P187.1 billion; tax expenditure, P14.5 billion; and debt burden, P414.1 billion.
Budget Secretary Benjamin Diokno earlier said the government would shift to an annual cash-based budget in 2019 from the multi-year obligations-based at present, in a bid to eliminate underspending.
The underspending rate was as high as 13.3 percent in 2014 and 12.8 percent in 2015 during the past administration. But when Duterte assumed office in June 2016, the underspending significantly decreased to 3.6 percent.
The current administration bragged that a notable decrease in underspending, as it urges government agencies to accelerate budget utilization.
Under the cash-based budgeting, government agencies are compelled to spend their respective appropriations within the fiscal year. (SunStar Philippines)