Duterte OKs proposed P4.5-T budget for next year
President Rodrigo Duterte has approved the proposed P4.506-trillion budget for 2021, the Department of Budget and Management said on Sunday.
In a statement, DBM said Duterte gave his nod on the proposed measure, with the theme “Reset, Rebound and Recover: Investing for resiliency and sustainability," during a special meeting with the Development Budget Coordination Committee held on July 30.
"Higher than this year’s budget by 9.9 percent and equivalent to 21.8 percent of gross domestic product, the proposed FY (fiscal year) 2021 budget aims to sustain government efforts towards effectively responding to the COVID-19 (coronavirus disease) pandemic by focusing government spending on improving our healthcare systems, ensuring food security, increasing investments in public and digital infrastructure, and helping communities cope and prevail in these trying times," DBM said.
It said next year's budget theme is consistent with the administration’s goal of saving lives and protecting communities while making different sectors of the economy stronger and more agile.
The Philippines, like other countries, is facing the new coronavirus pandemic. The government is enforcing quarantine protocols in the whole country to contain the spread of COVID-19.
"Every peso of the proposed P4.506 trillion FY 2021 Budget went through numerous budget hearings and consultations with the agencies, and levels of scrutiny and approval," DBM said.
With Duterte's approval of the proposed budget, DBM said it will finalize the FY 2021 National Expenditure Program and other budget documents for submission to Congress before the 30-day constitutional deadline or until August 26. Celerina Monte/DMS