Aquino gives nod on P2.3T proposed budget for 2014

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Thursday, July 11, 2013

PRESIDENT Benigno Aquino III has approved the P2.268-trillion proposed budget for next year with minor adjustments, a Palace official said Thursday.

The Chief Executive said that he and the members of the Cabinet stayed up to almost midnight on Wednesday to finish the deliberation of the proposed budget for 2014.

"Budget approved subject to some minor adjustments," said Presidential Communications Development and Strategic Planning Office Secretary Ramon Carandang in a text message to reporters.

He said the thrust of the Aquino administration remains inclusive growth.

"We are enhancing social protections and creating opportunities for employment by focusing on job generating sectors like manufacturing, tourism, infrastructure, and agriculture, among others," Carandang said.

He noted that Aquino takes time and effort to go over the details of the budget because he wanted to make sure that taxpayers' money is being spent properly and efficiently.

"This kind of scrutiny and attention is what has allowed us to increase spending without raising taxes and even enhance or fiscal space and earn us those credit rating upgrades," the official explained.

Aquino in a speech during the courtesy call of the 8th Ambassadors, Consul General, and Tourism Directors’ Tour delegates in Malacañang on Thursday acknowledged that he was busy the past days in finalizing the national budget, where his administration was laying out the priorities for next year, and even beyond.

"Every line must be thoroughly scrutinized before the entire document is submitted to Congress, and so finalizing the budget, as you can imagine, is a somewhat stressful task," he said.

Budget Secretary Florencio Abad will submit the proposed budget to Congress a day after the President's State of the Nation Address on July 22. The budget to be proposed for next year is 13.1 percent higher than this year's P2.006-trillion budget. (SDR/Sunnex)

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