The Trade Department is working on a P5.8-billion budget for 2018, up 23 percent from 2017’s P4.7 billion.
Trade Secretary Ramon Lopez said the supporting budget for the micro, small and medium enterprises comprised the bulk of the allocation for next year.
“We’re still checking the details of where the increase specifically went. I believe that there was a big increase allocated to SSFs (shared services facility),” he said.
Trade Undersecretary Nora Terrado said the national government earlier agreed to give the department only P200 million for the SSF program. “It was only during the latter part of the budgetary hearing that we were allowed a P1-billion budget for SSFs,” she said.
Lopez stressed the importance of having enough financing support for the shared facilities. The former Go Negosyo executive director cited that even cooperatives could not afford a P3-million to P5-million processing facility.