The Department of Budget and Management (DBM) today said that Social Services now corner 36.6 percent or P952.7 billion—the largest of all sectoral allocations—of the 2015 P2.606-trillion National Budget.
Secretary of Budget and Management Florencio “Butch” Abad welcomed the signing of the Joint Circular on Confidential and Intelligence Funds by various government agencies, as the Aquino administration continues to improve transparency and accountability in the use of funds while ensuring just and lasting peace and the rule of law in the country.
An infographic from the Department of Budget and Management on the 2015 National Budget.
Statement of Budget Secretary Florencio B. Abad on the national government’s sale of 25-year global bonds [Released on January 7, 2015] “The reception of the international capital market to the National Government’s offering of its 25-year Global Bonds this morning is very heartening. It is an affirmation of the international market’s increasing trust in strength […]
Secretary of Budget and Management Florencio “Butch” Abad clarified today that the additional P300-million budget allocation to the National Housing Authority (NHA) made by Senator Nancy Binay in 2014 had already been released to the agency.
President Benigno S. Aquino III today signed the P2.606-trillion 2015 General Appropriations Act (GAA), marking the fifth consecutive year of the National Budget’s timely enactment and cementing the Administration’s spending program for rapid, long-term, and inclusive development.
The Department of Budget and Management (DBM) has released P76 million to the DA-BFAR for the creation of four fish ports across the country in order to boost the livelihood and food security of fishing communities.
In line with rewarding civil servants for their hard work and motivating them towards higher productivity, Department of Budget and Management (DBM) Secretary Florencio “Butch” Abad reported that government employees will be receiving a one-time P5,000 bonus for the year starting on Monday, December 15.
The Moody’s report—which upgraded the Philippines’ credit rating one notch higher, to Baa2 from Baa3—cited the country’s improvements in fiscal management as one of the drivers for the ratings upgrade. The report said, “Administrative reforms in the key revenue-collecting agencies, most recently in the Bureau of Customs, have led to revenue growth in excess of nominal GDP growth for a fourth consecutive year.”
The Department of Budget and Management (DBM) presented to the House of Representatives on Tuesday the proposed P22.47-billion supplemental budget that would address urgent funding requirements for priority infrastructure, socioeconomic, and rehabilitation and reconstruction projects.