President Rodrigo R. Duterte has approved the proposed PHP4.506 trillion national budget for 2021 during a special meeting with the Development Budget Coordination Committee (DBCC) held on July 30, the Department of Budget and Management said Sunday.
Higher than this year’s budget by 9.9 percent and equivalent to 21.8 percent of Gross Domestic Product (GDP), DBM said the proposed 2021 budget aims to sustain government efforts towards effectively responding to the coronavirus disease 2019 (Covid-19) pandemic.
The budget will focus government spending on improving the country’s healthcare systems, ensuring food security, increasing investments in public and digital infrastructure, and helping communities cope and prevail in these trying times.
It carried the theme “Reset, Rebound and Recover: Investing for resiliency and sustainability”.
The theme, DBM said, is consistent with the administration’s goal of saving lives and protecting communities while making different sectors of the economy stronger and more agile.
Every peso of the proposed PHP4.506 trillion 2021 budget, DBM said, went through numerous budget hearings and consultations with the agencies, and levels of scrutiny and approval.
In view of the President’s approval of the PHP4.506 trillion proposed budget, the DBM will be finalizing the 2021 National Expenditure Program (NEP) and other budget documents for submission to Congress before the 30-day constitutional deadline.
Source: Philippines News Agency