The administration of President Rodrigo Duterte is proposing a P3.767-trillion national budget for 2018, Malacañang revealed on Tuesday.
During a press briefing in Malacañang, Presidential Spokesperson Ernesto Abella said the 2018 national budget was tackled during the Cabinet meeting on Monday night, as presented by Budget Secretary Benjamin Diokno.
“I’d like to go now to the report of the DBM. Very interesting, they said, it’s a budget that reforms and transforms. It covers medium-term macroeconomic assumptions and fiscal targets, key budget dimensions, expenditure priorities,” he said.
The 2018 budget amounts to 3.767 trillion or 12.4 percent more than the 2017 budget and 21.6 percent of the gross domestic product (GDP).
Abella enumerated the allocation by expense class—LGUs receives 16 percent; GOCCs receive 4.5 percent; infra and capital outlays receive 25.4 percent; personnel services receive 29.4 percent; maintenance receive 14.5 percent; debt burden, 9.8.
The biggest chunks will go to the following departments—first, the Department of Education, state universities and colleges and Commission on Higher Education; second, Department of Public Works and Highways; third, Department of the Interior and Local Government; fourth, Department of Health; fifth, Department of Social Wefare and Development; sixth, Department of Agriculture; seventh, Autonomous Region in Muslim Mindanao; and eighth Department of Environment and Natural Resources.
Abella said among the priorities of the framework are: to enhance the social fabric to make sure that the entire budget is spent to make and being people-centered, fair, just, and value-based; to reduce inequality; to increase growth potential; to maintain foundations for sustainable development.
“Secretary Ben Diokno round up his report by saying, ‘The budget aims for a safer, greener, wealthier, and more beautiful country, making space for the youth, the poor, disadvantaged, and handicapped’,” said Abella.
The proposed budget will be submitted by the executive to Congress for approval.