PRESIDENT Rodrigo Duterte has approved the proposed P4.506-trillion national budget for 2021, the Department of Budget and Management (DBM) said in a statement Sunday, August 2, 2020.
The President gave the approval during a special meeting with the Development Budget Coordination Committee (DBCC) held on July 30.
The proposed budget is higher than the 2020 budget by 9.9 percent and is equivalent to 21.8 percent of the gross domestic product (GDP).
DBM said the proposed FY 2021 budget aims to sustain government efforts towards effectively responding to the coronavirus diseases 2019 (Covid-19) pandemic by focusing government spending on improving healthcare systems, ensuring food security, increasing investments in public and digital infrastructure, and helping communities cope and prevail in these trying times.
The theme “Reset, Rebound and Recover: Investing for resiliency and sustainability” is consistent with the administration’s goal of saving lives and protecting communities while making different sectors of the economy stronger and more agile.
Every peso of the proposed P4.506-trillion budget went through numerous budget hearings and consultations with the agencies, and levels of scrutiny and approval.
With the approval, the DBM will be finalizing the FY 2021 National Expenditure Program (NEP) and other budget documents for submission to Congress before the 30-day Constitutional deadline. (SunStar Philippines from PR)