(Eagle News)–President Rodrigo Duterte has signed a joint resolution extending the validity of key components of the 2018 national budget until Dec. 31, 2019.
Executive Secretary Salvador Medialdea made the announcement in a message to reporters on Thursday, Jan. 3.
According to Medialdea, in particular, the President signed Joint Resolution No. 3 that extends the validity of the “MOOE and CO components of the 2018 GAA (General Appropriations Act) Joint Resolution Extending the Availability of the 2018 Appropriations for Maintenance and Other Operating Expenses and Capital Outlay.”
The MOOE refers to the maintenance and other operating expenses and CO refers to capital outlays.
The resolution provides for the availability of the CO and the MOOE in 2018 a fiscal year after these were appropriated, and their reversion to the General Fund to fund “priority projects.”
