P1.816-trillion budget for 2012 approved | The Manila Bulletin Newspaper Online
P1.816-trillion budget for 2012 approved
MANILA, Philippines — The proposed P1.816-trillion national budget for 2012 was approved on second reading by the House of Representatives late Friday night.
After month-long committee deliberations and nine days of marathon plenary sessions, which were sometimes affected by lack of quorum, the Lower Chamber passed the measure at 11:29 p.m. Friday.
Next year’s proposed budget, described as “realistic” national spending bill, is higher by P171 billion or 10.4 percent than the P1.645-trillion national appropriations in 2011. It also represents 16.5 percent of the country’s projected Gross Domestic Product (GDP).
“We conclude our work tonight (Friday night), confident that the budget we will transmit to the Senate is a budget that is not only realistic but more importantly, sub-serves our objectives – drastic reduction in poverty and the empowerment of the disadvantaged; economic growth; and the fight against corruption, to name a few,” said Speaker Feliciano Belmonte Jr., who described the proposed budget as “assembled with great pragmatism and with as much foresight as is humanly possible.”
“For the second year, we fulfill the duty vested upon us by the Constitution and approve in record time our national budget for next year,” he pointed out.
A committee was formed to gather all the proposed amendments in HB 5023 for its approval on third and final reading on October 12. It is composed of Cavite Rep. Joseph Emilio Abaya, chairman of the House Committee on Appropriations who sponsored the budget bill; Deputy Majority Leader and Ilocos Norte Rep. Rodolfo Fariñas, and Negros Oriental Rep. Jocelyn Limkaichong.
Malacañang’s P39.5 billion for the Pantawid Pamilyang Pilipino Program (4Ps) remains intact in the 2012 national budget as well as the P23.4 billion special purpose fund, branded as the Miscellaneous Personnel Benefits Fund (MPBF) for unfilled government position, which have been questioned by the members of the minority bloc before the approval on second reading of the national appropriations for next year.
Under the spending bill, the Department of Education gets the lion’s share of P238.8 billion or 15.2 percent higher than the current budget of P207.3 billion. Placing second is the Department of Public Works and Highways (DPWH) at P125.5 billion, followed by the Department of National Defense, P107.9 billion; the Department of the Interior and Local Government (DILG), P101.4 billion; and the Department of Agriculture (DA), P54.1 billion.
“To support our quest for more robust economic growth, we supported the fiscal consolidation initiatives embedded in the national budget by narrowing the fiscal deficit, reducing the debt burden and increasing revenues by raising collection efficiency,” Belmonte said, citing the Lower Chamber’s all-out support to the proposed conversion of the Tax Credit Certificates into tax refunds to increase the liquidity of our business enterprises.
By sector, Social Services get the bulk of the spending pie with P575.8 billion or 31.7 percent of the entire General Appropriations Act (GAA). Economic Services is at second with P438.9 billion, followed by Debt Service, P356.1 billion; General Public Service, P332.1 billion; and Defense, P113.1 billion.
“To fortify the fight against corruption, we have taken pains to ensure that public funds will not be diverted for unauthorized uses. As a first step, we approved the break-down of lump-sum funds totaling more than P150 billion and their allocation to regional and sub-regional offices. This will ensure accountability in their use,” Belmonte said.
Of the proposed new general appropriations of P1.254 trillion, P1.092 trillion is the so-called programmed appropriations and P162 billion is unprogrammed or standby appropriations should additional or new revenues and project loans come in, while the total automatic appropriations amounts to P723.6 billion.
“This Chamber has devoted incalculable time and resources to craft a budget that will finance the operations of government and strengthen our people’s chances for a better life. Its members — regardless of party affiliation — toiled early in the morning and late into the night to ensure prudence and efficiency in government spending,” Belmonte said.
He praised his colleagues “principled engagement,” “dedication and hard work” in ensuring the passage of the HB 5023 on second reading.
P1.816-trillion budget for 2012 approved
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