Duterte Approves P4.5 Trillion 2021 National Budget
2021 NATIONAL BUDGET – The Department of Budget and Management (DBM) said President Rodrigo Roa Duterte approved the proposed P4.5 trillion 2021 national budget.
Philippine President Rodrigo Roa Duterte did not submit the national budget proposal for the year 2021 during his recent State of the Nation Address (SONA). He usually discusses the country’s achievements, future plans, and next year’s budget.
The 75-year-old chief executive did not talk about the 2021 budget because the DBM is not done finalizing it. The Department said they will focus on addressing unemployment due to the 2019 novel coronavirus (COVID-19) pandemic.
On Sunday, DMB said President Duterte has approved the proposed P4.506 trillion national budget for the year 2021. Based on a report from Inquirer, the president approved the budget during his meeting with the Development Budget Coordination Committee last July 30. DBM said the proposed budget aimed to assist the government’s efforts in responding to the pandemic.
“The proposed fiscal year (FY) 2021 budget aims to sustain government efforts towards effectively responding to the COVID-19 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, hence, the theme ‘Reset, Rebound and Recover: Investing for resiliency and sustainability,’” DBM said.
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According to the report, next year’s budget is 9.9% higher compared to 2020’s P4.1 trillion budget. It is equivalent to 21.8% of the Gross Domestic Product.
“Every peso of the proposed P 4.506 trillion FY 2021 Budget went through numerous budget hearings and consultations with the agencies, and levels of scrutiny and approval,” the DBM said.
Based on the report, the Department of Budget Management, however, has yet to submit the 2021 National Expenditure Program (NEP) to Congress. The department has until August 27 to submit the NEP.
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