MANILA, Philippines– For his last year in the administration, President Aquino approved the P3 trillion national budgets for 2016.
Presidential Communication Secretary Herminio Coloma Jr. said in a statement that the P3.002-trillion 2016 budget was finalized during the President and the Cabinet’s meeting last Monday. The said figure is 15.2 percent higher compared to this year’s national expenditure and will justify the 19.5 percent of the economy as measured by the gross domestic product (GDP).
The secretary also said that spending will be limited within the country’s means; investments will be made in “right priorities”; results will be measurable; and fiscal transparency, accountability, and citizen participation will be ensured. These principles will be secured on the national budget.
The top five precedence’s in the budget includes:
- Good governance and anticorruption
- inclusive growth
- sustaining growth
- managing disaster risks
- forging just and lasting peace
The biggest allocations in the budget are for:
- The Department of Education: P436.5 billion
- Department of Public Works and Highways: P401.14 billion
- Department of National Defense: P172 billion
- Department of the Interior and Local Government: P156 billion
- Department of Health: P128.5 billion
- Department of Social Welfare and Development: P107.6 billion
Secretary Coloma added that Aquino would like to make sure that all of the programs under his term will be completed by next year, specifically public infrastructure and the restoration of calamity areas, particularly those affected by Supertyphoon “Yolanda.”
(Photo credit to INQUIRER/RAFFY LERMA)