QUEZON City, Philippines (Eagle News) — President Rodrigo Duterte has approved a national budget for 2018, Budget Secretary Benjamin Diokno confirmed on Monday, July 3.
Duterte will ask Congress for a Php 3.767 trillion national budget for 2018 in his second State of the Nation Address (SONA) to be held on July 24, he said.
Malacañang drafted the 2018 national budget with Presidential spokesperson Ernesto Abella saying that the budget was agreed upon in the latest Cabinet meeting.
“Very interesting, they said, it’s a budget that reforms and transforms. It covers medium-term macroeconomic assumptions and fiscal targets, key budget dimensions, expenditure priorities,” he said.
“I’m finalizing it now so he can submit the President’s budget on the day of his SONA, July 24th,” Abella added.
The proposed budget is 12.4% higher than the 2017 national budget.
Abella also said that the Department of Education (DepEd) will receive the highest allocation, followed by the Department of Public Works and Highways (DPWH)
The Palace spokesperson said that the proposed budget aims to enhance the social fabric, increase growth potentials as well as maintaining foundations for sustainable development.
“The priorities of framework [are] number one, to enhance the social fabric to make sure that the entire budget is spent to make and being people-centered, fair, just and value-based; to reduce inequality; to increase growth potential; to maintain foundations for sustainable development,” Abella said.
Quoting Diokno, Abella also said that the 2018 budget “aims for a safer, greener, wealthier, and more beautiful country, making space for the youth, the poor, disadvantaged, and handicapped.”