2013 National Budget of the Philippines
By Cielito M. Reganit
Budget Secretary Florencio Abad on Wednesday stressed that the proposed 2013 national budget will hasten implementation of priority programs under President Benigno S. Aquino III’s “social contract” with the Filipino people.
Abad made the statement at the start of the public hearing being conducted by the House Committee on Appropriations chaired by Cavite Rep. Joseph Emilio Abaya on the proposed P2.006-trillion national budget for 2013.
He led officials of the Development Budget Coordinating Committee (DBCC) – composed of the Department of Budget and Management (DBM), Department of Finance (DOF), Bangko Sentral ng Pilipinas (BSP) and the National Economic Development Authority (Neda) – in explaining and defending the 10.5 percent increase in the proposed budget for next year to lawmakers.
“The greater focus on the Social Contract means, among other goals, good governance to attain peace and rule of law, integrity of the environment, inclusive growth and elimination or reduction of poverty,” Abad told members of the Appropriations Committee.
He said in order to continue the Administration’s focused campaign on poverty alleviation, the bulk of the budget is once again devoted to the Social Services sector – which will receive 34.8 percent or P698.8 billion of the national budget.
Economic Services received the second highest sectoral allocation with 25.5 percent or P511.1 billion devoted to it for 2013 while General Services gets P346.1 billion or 17.3 percent.
Meanwhile, next year’s allocation for debt service is P333.9 billion compared to P333.1 billion in 2012.
However, the 2013 debt service allocation comprises only 16.6 percent of the entire budget compared to 17.3 percent of the total budget in 2012.
Rounding up, Defense will get P89.7 billion (4.5 percent) and Net Lending is allocated P26.5 billion or 1.3 percent of the national budget.
For their part, Finance Secretary Cesar Purisima and BSP Governor Amando Tetangco, Jr. explained to lawmakers the government’s financial status, monetary policy reforms and the status of the banking sector among other vital concerns, related to the administration’s proposed spending law.
Tetangco and Purisima noted that the Philippines enjoy good macro fundamentals following two decades of structural reforms.
They said the economy is projected to grow by 6 – 7 percent by 2013, compared to the projected 5 – 6 percent growth this year, which will be largely driven by investments, industry, exports, personal consumption and services.
Incoming search terms:
- national budget of the philippines 2013
- 2013 national budget of the philippines
- 2013 national budget philippines
- 2013 budget philippines
- national budget 2013 philippines
- national budget for 2013 philippines
- philippines national budget 2013
- gaa of 2012
- philippines 2013 national budget
- philippine national budget 2013
- national budget philippines 2013
- national budget of the philippines for 2013
- 2013 philippine national budget
- 2013 philippines national budget
- national budget of the philippines in 2013
- GENERAL APPROPRIATIONS ACT 2013 BUDGET-PHILIPPINES
- national electrification administration philippines-2013 budget
- NATIONALL BUDGET OF PHILIPPNES 2013
- debt OF the philippines 2013
- philippine national budget for 2013
- philippines national budget for 2012-2013
- philippines national budget for 2013
- budget allocation of the philippines 2013
- budget allocation of philippines 2013
- PHILIPPINE GENERAL APPROPRIATIONS ACT OF 2013
- Pres aquino salary increase for the government employees 2013
- dbcc dbm phil
- 2013 General Appropriations Act of the Philippines
- government appropriation act of the philippines
- teachers salary and benefits propose for 2013 national budget philippines
- 2012-2013 national budget of the philippines
- 2013 annual national budget allocation of the philippines
- national budget allocation of the philippines for 2013
- 2013 national budget in the philippines
- 2013 National Budget Phil
- 2013 national budget theme of the philippines
- 2013 philippine budget allocation
- original proposed budget philippines 2013
- national budget of 2013 of the philippines
- national budget in the philippines 2013
- philippine national budget 2013 with illustration
- national budget breakdown of the philippines 2012-2013
- national budget of the philippines in the year of 2013
- national education budget in the philippines 2013
- percentage of education budget 2013 in the philippines
- Philippine National budget for 2012 2013
- national budget of 2013 philippines
- philippine budget allocation chart 2013
- philippine budget allocation 2012-2013
- news about food allocation in the philippines