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.
The Aquino administration has ample emergency funds on the ready for 2014 and 2015 as Tropical Storm Ruby (international code name: Hagupit) continues to move across the country, Department of Budget and Management (DBM) Secretary Florencio “Butch” Abad said today.
The various departments of the National Government are prepared to respond to the possible entry of Typhoon Hagupit into the Philippines as they have appropriate budgetary support worth P4.69 billion, according to the Department of Budget and Management
Upon consultation with lawmakers, the Department of Budget and Management (DBM) has resubmitted to the House of Representatives the updated proposed supplemental appropriation amounting to P22.47 billion, less P870 million from the original P23.34 billion proposed last November 19.
This has been the Aquino administration’s goal from the start: to serve the public better through a transparent and citizen-centric National Budget, all in the spirit of reform, better governance and Daang Matuwid.
The Department of Budget and Management (DBM) released P1.38 billion to the Philippine Coconut Agency (PCA) to support their operations and various programs that can help strengthen the country’s coconut industry.