PH: Aquino submits 2015 national budget to Congress
President Benigno S. Aquino III has on Wednesday submitted the government’s proposed P2.606-trillion 2015 National Budget to Congress.
The Administration’s proposed expenditure program for 2015 is 15.1 percent higher from the current year’s P2.265-trillion budget, representing 18.4 percent of the country’s Gross Domestic Product and reflecting the jump in the Administration’s growth assumption of 7.0-8.0 percent for 2015, according to the President Office.
Of the proposed P2.606-trillion budget, social services continue to take the biggest share. Social protection and welfare services—which include the provision of basic education and universal health care—account for 37.1 percent of the proposed expenditure program, with P967.9 billion now devoted to the sector.
This amount is 15 percent higher than the P841.8 billion that currently supports social services under the 2014 National Budget, and will allow the Administration to strengthen its K-12 program, as well as the Universal Health and Conditional Cash Transfer programs.
Economic services, meanwhile, accounts for 27 percent of the expenditure program. P700.2 billion is proposed to be allocated to this sector, of which P339.4 billion in funds will go towards various infrastructure programs, including the construction of national roads and integrated transport systems nationwide.
The Aquino administration is“working harder at bringing inclusive growth to the country through transparent, accountable, and participatory budgeting,” said Budget and Management Secretary Florencio “Butch” Abad.
The official said that the government is putting efforts on ensuring the efficiency of public spending to take care of the needs of disadvantaged communities.
“No one should be left behind; this principle is the driving force of our 2015 expenditure program,” Abad said.