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.
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.
In line with the Aquino Administration’s drive to complete all road infrastructure by 2016, the budget department has released P1.6 billion to jumpstart the implementation of the Cavite-Laguna (CALA) Expressway Project. The fund release will partially cover the acquisition of Right-of-Way (ROW) and contract services for the project.
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.
The datasets in open format of the proposed 2015 budget—including the 2013 and 2014 General Appropriations Acts (GAA)—may be downloaded via the DBM website (www.dbm.gov.ph/?page_id=10006) and via the Open Data Philippines portal (http://data.gov.ph/catalogue/dataset/national-expenditure-program-fy-2015-proposed).
The Department of Budget and Management (DBM) released P5.46 billion to the National Housing Authority (NHA) for the construction of 20,000 house-and-lot packages for the military, police, and other uniformed personnel in various regions of the country.
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.
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.
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.
As part of the Aquino Administration’s rural electrification program, the Department of Budget and Management (DBM) released P7.68 billion to the National Electrification Administration (NEA) to energize off-grid communities in various remote areas in the country.