The 2015 proposed national budget of P2.606 trillion was already approved by the Philippine Congress on Wednesday, December 10, 2014. According to Senate Finance Committee Chairman Sen. Francis “Chiz” Escudero stated that the ceiling was not reduced but was realigned amounting to P72.542 billion, majority of which came from the unprogrammed fund within agencies.
Meanwhile, the Senate version of the definition of “savings” was adopted, in accordance to the Supreme Court ruling on some provisions of the Priority Development Assistance Fund (PDAF) and Disbursement Acceleration Program (DAP).
The bicameral committee which is composed of members from the Philippine Senate and the House of Representative agreed not to restore the P52.9-billion buyout of the Metro Rail Transit (MRT). Majority of the funds intended for MRT, will be realligned for the rehabilitation of calamity hit-areas.
The additional P8 billion fund for Bangsamoro entity was already removed, Sen. Escudero noted that “If the Bangsamoro Basic Law will be approved, there will be Bangsamoro transition commission which will handle the ARMM fund amounting to P24 billion” which is already enough according to Sen. Escudero.
The Bicameral panel also approved the proposed P2 billion contingency fund for the Office of the President and P14 billion for National Disaster Risk Reduction and Management.
On the other hand, the bicameral panel approved the proposed P2 billion contingency fund for the Office of the President and P14 billion for National Disaster Risk Reduction and Management. P1 billion fund will be given to the Quick Response Fund of the DSWD, DPWH and DOST.
The bicameral committee report will be forwarded to the House and the Senate for further ratification before being submitted to President Benigno Simeon Aquino III for approval.