Statement: The Secretary of Budget on the 6.4% 2014 Q2 GDP growth

Sec. Abad: We’re very pleased with the news of our 6.4-percent GDP growth for the second quarter of 2014. Although challenges over the previous year have affected the country’s economic momentum, our growth for the last quarter sends a clear and encouraging message: the country’s economy is set to pick up further as the year progresses.

Cebu Bus Rapid Transit gets go signal

As part of the country’s continuing investments in transport infrastructure to further expand economic development, the Department of Budget and Management (DBM) approved the funding strategy and likewise issued a Forward Obligational Authority (FOA) to the Department of Transportation and Communications (DOTC) for the Cebu Bus Rapid Transit (BRT) project in the total amount of P9.48 billion.

June infra spending spiked by 62.7% year-on-year

Consistent with the Aquino administration’s goal of pouring more investments into economy-driving sectors, the Department of Budget and Management (DBM) today reported that year-on-year infrastructure spending soared by 62.7 percent to P24.4 billion in June alone, bringing total government disbursements to P987.7 billion in the first six months of 2014.

No “backtracking” in 2015 Budget lump-sum data

The Department of Budget and Management Public Information Unit (DBM PIU) today corrected a Philippine Daily Inquirer story that claimed Secretary Florencio “Butch” Abad had “backtracked” on a claim that lump-sum funds amounted to only “P48.1 million” in the proposed P2.606-trillion 2015 National Budget. Instead, lump-sums under the Special Purpose Funds (SPFs) totaled P48.1 billion in next year’s spending program.

Reform-backed 2015 Budget to spur inclusive growth

Buoyed by the successful introduction of major spending reforms over the last four years, the Aquino administration’s proposed P2.606-trillion 2015 budget was designed specifically to fuel economic growth and bring direct and sustainable benefits to all Filipinos, Department of Budget and Management (DBM) Secretary Florencio “Butch” Abad said today.

Presentation of the 2015 Budget to the House Committee on Appropriations on August 6, 2014

On August 6, 2014, Secretary of Budget and Management Florencio “Butch” Abad presented to the Committee on Appropriations the 2015 Budget in the House of Representatives, Quezon City. This entry includes the opening statement of Secretary Abad and his visual presentation of the 2015 Budget.