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Duterte OKs P3.8-T cash-based budget for 2019
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Duterte OKs P3.8-T cash-based budget for 2019
 
July 11 ------ The Department of Budget and Management (DBM) will submit the proposed P3.757-trillion cash-based national budget for 2019 to Congress on July 23 to coincide with President Duterte’s third State of the Nation Address. The proposed budget is slightly lower than this year’s record P3.767 trillion. Budget Secretary Benjamin Diokno told the Inquirer on Tuesday that the President approved the proposed budget during Monday’s Cabinet meeting, which lasted well past midnight.

At a press briefing in Indang, Cavite province, presidential spokesperson Harry Roque on Tuesday said P1.185 trillion (31.5 percent) would be spent for personal services, P752.7 billion (20 percent) for capital outlay, P640.6 billion (17.1 percent) for local governments and P562.9 billion (15 percent) for maintenance expenditures.
 He said P414.1 billion (11 percent) will be allocated for debt payments while support for government-owned and -controlled corporations and tax expenditures would get P181.7 billion (5 percent) and P14.5 billion (0.4 percent).

Source: newsinfo.inquirer.net