Sunday, December 26, 2010

1st PNoy budget signed before the end of 2010

MANILA, Dec. 26 (PIA) -- Department of Budget and Management (DBM) Secretary Florencio “Butch” Abad said President Benigno S. Aquino III will sign the P1.645-trillion 2011 national budget into law December 27 or before the current year ends.

In an interview with a local radio station here, Abad said that this is the first General Appropriations Act that President Aquino will be signing under his administration.

The budget secretary pointed out that this is also the first time in 11 years that the general appropriations would be enacted in the same year that it was submitted for approval.

The 2011 national budget has one of the biggest appropriations ever for education amounting to more than P200 billion.

It has the P21 billion for the Conditional Cash Transfer (CCT) program to be spearheaded by the Department of Social Welfare and Development and P7.8 billion for health including public health centers.

Abad also stressed that the use of the first Aquino budget will be anchored on the Aquino government’s policy of transparency and accountability.

"Everything will be transparent as every usage of the national budget will be posted on the DBM website," added Abad.

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